Contract win covers works related to offshore oil facility and real estate sector
Arabtec Holding has announced that Target Engineering, its wholly owned subsidiary, has won two contracts worth $57 million for works related to an offshore oil facility and the construction of a new commercial building in Abu Dhabi.
Target Engineering has been awarded a $23 million contract by Adnoc Offshore, for the replacement works for slug catchers (static pieces of equipment used in upstream oil production to minimise irregular flow from oil and gas pipelines) on Zirku Island, Abu Dhabi.
According to a statement from Arabtec, it said: “The contract works will commence immediately for a duration of 22 months. This award is line with the group’s strategic priority to diversify its backlog into different sectors, including the industrial sector.”
The second contract for the company is worth about $34 million and was awarded for the construction of a 19-storey commercial tower in Abu Dhabi. The project – Sunset Square – will have a total built up area of about 27,000 sqm. Work is expected to commence shortly and will take 30 months to complete, the company added.