Al Hassan wins $26.6m Abu Dhabi deal
Firm to provide package of works to GS Engineering at the $1.44bn Rumaitha / Shanayel upgrade site for ADCO
Muscat-based contractor Al Hassan Engineering has announced that its Abu Dhabi-based affiliate, in which it has a 49% stake, has received notification that it has won a $26.6m contract for civil works at the huge Rumaitha / Shanayel Phase III contract in Abu Dhabi from Korean main contractor GS Engineering.
The company said its Part A works contract will run for 17 months and will provide it with a "reasonable" profit.
GS Engineering was appointed by the Abu Dhabi Company for Onshore Operations (ADCO) to build a massive crude oil processing plant at the site last June. Its work will take processing capacity at the plant from 46,000 to 85,000 barrels of oil per day .
GS Engineering and Dodsal are due to complete their EPC contract by the end of 206, with commercial operation beginning in early 2017.
Al Hassan Engineering employs 5,900 staff. Last year, its revenues climbed 22% to $199m but it declared a $3.6m loss as a result of delays to project completions.