Target awarded contracts worth $215m
01 April 2008
Target Engineering Construction Company, a subsidiary of Arabtec Holding, has won three contracts in Abu Dhabi totalling Dh792 million ($215.65 million).
The first Dh600 million contract is for the construction of a commercial centre at Khalidiya area, Abu Dhabi, comprising of two 34-storey towers – one office block and one residential block, each with three basements, ground floor and mezzanine.
The project has a completion period of 26 months.
The second contract is from Abu Dhabi National Oil Company (Adnoc) to construct a new quality control laboratory building at Ruwais, Abu Dhabi.
The Dh96 million is expected to be completed in 20 months.
The third contract is also from Adnoc for the construction of a police complex at Das Island, Abu Dhabi. The Dh96.4 million contract has an 18-month completion period.
Riad Kamal, CEO of Arabtec Holding, said these projects extended Arabtec’s share in the booming Abu Dhabi market.
Arabtec Holding acquired 60 per cent of Target Engineering Construction Company (Target) last November.
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