Arabtec subsidiary wins 200m riyal contract from Saudi Aramco – The National

Arabtec subsidiary wins 200m riyal contract from Saudi Aramco – The National

Target Engineering to replace storage tanks at the oil company's Ras Tanura refinery





























A unit of Arabtec Holding won a 200m riyal contract from Saudi Aramco. Silvia Razgova / The National





















July 21, 2020



July 21, 2020













A unit of Arabtec Holding, the Dubai-listed construction company, won a 200 million Saudi riyal (Dh196m) contract from Saudi Aramco for the replacement of storage tanks at Ras Tanura refinery in Saudi Arabia.



Target Engineering Construction Company, a wholly owned subsidiary of Arabtec, won the contract, the company said in a statement to the Dubai Financial Market, where its shares trade.



"We are delighted to be continuing to build our relationship with Saudi Aramco in the kingdom of Saudi Arabia. In line with our strategy, this important award further builds the group's presence in the oil and gas sector,“ Wail Farsakh, Arabtec's group chief executive, said.



As part of the contract, Target Engineering will replace three naphtha storage tanks and two slop oil storage tanks at the refinery located in the eastern province of the kingdom, the