Arabtec's Target wins $235m Saudi Aramco deals

Target oil & gas subsidiary picks up seven projects for Saudi energy giant

The work includes refinery upgrades and new buildings
The work includes refinery upgrades and new buildings

Contractor Arabtec has announced that its oil and gas subsidiary Target has won a number of deals from Saudi Aramco worth a combined $235m (AED930m).

In total, Target will deliver seven projects for Saudi Aramco - the biggest of which is a project to improve a liquefied petroleum drain in the Abqiq refinery worth $74m (AED272m). It also landed a project to reduce water content in a liquefied gas station at Aramco's Shadqam and Al Othmania plants worth $64m (AED235m).

A third major deal involved expanding liquefied gas facilities at Aramco's giant Yanbu refinery, which is valued at $37.3m (AED137m), while a fourth will see two new buildings constructed at its Ras Tanura terminal at a cost of $32m (AED117m).

In a statement to the Dubai Financial Market, Arabtec stressed the importance of expanding its activites in the Saudi market, "which offers many opportunities in the oil & gas fields in particular, and in the construction sector in general".

It added that its recent restructuring had "enhanced Arabtec's capabilities to win new projects in all its construction activities".

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