Arabtec Holding’s Target lands contracts worth $78.7m in UAE
Target Engineering Construction Company, a wholly owned subsidiary of UAE-based Arabtec Holding, has secured four contracts worth a combined $78.7m in the UAE
Target Engineering Construction Company, a wholly owned subsidiary of Arabtec Holding, has won four contracts worth a combined $78.7m (AED289m) in the UAE.
Three of the projects are located in the Emirate of Abu Dhabi, and one is situated in Dubai’s Business Bay area.
Target’s Abu Dhabi contract awards include a cofferdam removal and revetment construction project in the Western Region; the fabrication and installation of duplex stainless steel process tanks in Taweelah; and engineering, procurement, and construction (EPC) works for the upgradation and replacement of a substation on Das Island.
The Business Bay deal relates to an “award-winning high-rise development”, according to a missive issued by Arabtec Holding to Dubai Financial Market (DFM).
Commenting on the contract awards, Chaouci Yassine, chief executive officer of Target, said: “Target Engineering, over the years, has developed a strong experienced workforce, solid financial standing, and evolved into a key player within the region, with core capabilities of delivering complex projects in the industrial oil and gas, social infrastructure, marine, and high-rise tower [markets] over the past four decades.
“We continue to strive to uphold our market share in EPC and specialist contracts,” he added.
Hamish Tyrwhitt, group CEO of Arabtec Holding, said: “We are pleased to announce the continuous success and efforts within the group. Target, together with the group’s other operating entities, demonstrates our integrated capabilities, but also our core strength, giving us the ability to pursue a broad range of projects.
“We continue to focus on the UAE as our core market, and are optimistic on the outlook of the sector,” Tyrwhitt concluded.
Two other Arabtec Holding subsidiaries have also been awarded large-scale contracts this week. The group’s mechanical, electrical, and plumbing (MEP) arm, Emirates Falcon Environmental Co (EFECO), struck a $31m (AED113m) deal with Al Naboodah Co to conduct MEP works for Creekside 18 Towers in Dubai Creek Harbour; and Arabtec Construction secured a $96m (AED353m) contract from Abu Dhabi National Media Council (Abu Dhabi NMC) to build the UAE Pavilion for Expo 2020 Dubai.
Tyrwhitt, who was appointed as Arabtec Holding’s group CEO in November 2016, was recently included in fifth place on Construction Week’s 2017 Power 100, our annual ranking of the Middle East’s most influential construction professionals.