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

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

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





























Arabtec's group chief executive Wail Farsakh said the contract won by its subsidiary 'further builds the group's presence in the oil and gas sector'. Silvia Razgova / The National





















July 21, 2020



July 21, 2020













Target Engineering Construction Company, a wholly owned subsidiary of Arabtec Holding, won a 200 million Saudi riyal (Dh196m) contract for the replacement of storage tanks at Saudi Aramco's Ras Tanura refinery in Saudi Arabia.



"We are delighted to be continuing to build our relationship with Saudi Aramco in the kingdom of Saudi Arabia," Wail Farsakh, Arabtec's group chief executive, said in a statement to the Dubai Financial Market, where the company's shares trade.



"In line with our strategy, this important award further builds the group's presence in the oil and gas sector.“



Target Engineering will replace three naphtha storage tanks and two slop oil storage tanks at the refinery that is in the eastern province of the kingdom, its parent company said.





Arabtec