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