Subsidiary of the UAE’s biggest contractor awarded three contracts to work on civil, engineering and construction projects
Dubai contractor Arabtec has said that one of its divisions has won three contracts worth a total of £126m (AED747m).
Target Engineering Construction Company has scooped projects for civil, engineering, construction and commissioning works, according to Arabian Business.com.
GS E&C Korea has awarded it one contract worth AED170m as part of the refinery expansion project in Ruwais, a town about 250km west of Abu Dhabi city.
A second project AED251m, also from GS E&C Korea, involves “steel structure, equipment installation and piping work” for the Ruwais project. Work should be complete within two years.
Petrofac-GS E&C joint venture awarded the third job, for structure, mechanical and piping works connected to the GASCO Ruwais NGL Train Project, which is worth AED326m.
This brings the total that Target has won in contracts in the first six months of 2010 to a total of AED1.6bn.
Earlier this year Arabtec, which worked on the Burj Khalifa – the world’s tallest building - was struggling with cashflow problems and looked set to be taken over by an investment fund linked to the Abu Dhabi state. However, the deal was called off in April.