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Arabtec unit wins $137m contract

Dubai, April 23, 2012

An Arabtec Holdings  unit has won three contracts in Qatar and the United Arab Emirates worth $137.22 million, the Dubai builder said on Monday

The largest of the contracts, worth a combined Dh504 million, is from Qatar Petroleum for the construction of a workers facility to be built over three years, according to a statement.

The unit, Target Engineering Construction, also won a contract for civil construction work in the UAE's Das Island.

Abu Dhabi sovereign fund Aabar Investments is a key shareholder in Arabtec with a 10.45 per cent stake. – Reuters




Tags: abu dhabi | Arabtec | contract | Target Engineering |

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