Dubai – Mubasher: Arabtec Holding on Wednesday announced that a consortium of its wholly-owned subsidiary, Target Engineering Construction Company, and Spain’s Tecnicas Reunidas has been awarded an AED 3.2 billion ($861 million) gas development project in the UAE.
The two-firm alliance has won the Gas Development Expansion Phase II project from the Abu Dhabi Gas Liquefaction Company Ltd (ADNOC LNG).
The project works are set to begin in October 2018 and end by mid-2022, Arabtec said in a statement to the Dubai Financial Market (DFM).
Target Engineering’s work scope comprises the construction of the gas processing trains, supporting utilities and offsite facilities.
This will enable the transfer of 245 million standard cubic feet per day (mmscfd) of additional low-pressure gas to Habshan from Das Island in the UAE, Arabtec added.
The Dubai-listed firm further noted that Fluor Corporation has implemented the front-end engineering design (FEED) of the gas project, while Mott MacDonald was appointed as project management consultant.
This contract “strengthens our long-standing relationship with Adnoc Group and further builds on out reputation and portfolio of projects in the oil and gas sector,” Arabtec Group’s CEO Hamish Tyrwhitt commented.
In August, Arabtec said that its subsidiary, Arabtec Engineering Services, was awarded an AED 155 million contract by Dubai Municipality for its DS189 work on sewerage and drainage infrastructure in Al Khawaneej area.
During the first half of 2018, Arabtec Holding reported a 96.9% year-on-year profit surge, logging AED 113 million in profits, compared to AED 57 million.
