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Al Hassan wins $5.2mn Abu Dhabi deal

Contractor wins deal to expand Al Ghurair iron & steel plant at ICAD

Business centre at ICAD in Abu Dhabi
Business centre at ICAD in Abu Dhabi

Al Hassan Engineering's Abu Dhabi arm has announced that it has received a letter of intention by Al Ghurair Iron & Steel which will see it build a new facility for the company in Mussafah.

The contract, worth $5.2mn (AED19.3mn) will see it carry out the main construction works on phase II of an expansion at Al Ghurair's plant at the ICAD 1 industrial area.

The work is expected to take around 12 months to complete and Al Hassan said it expected "reasonable income" from the contract.

Al Hassan Engineering is an Omani contractor whose shares are listed on the Muscat Securities Exchange.

Last month, the company announced that its CEO, Dr Mohamed Fahd Al Haj Bakour, was resigning after just three months in the post. He joined in January, replacing former CEO Peter Hall who had been in the post for five years and who has remained as a consultant.

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May 04, 2020