Arabtec’s unit wins SAR 145m sub-contract for project in Saudi Arabia

Arabtec’s unit wins SAR 145m sub-contract for project in Saudi Arabia

Dubai – Mubasher: TARGET Engineering Construction Company, a wholly-owned subsidiary of Arabtec Holding, has been awarded a 14-month subcontract worth SAR 145 million from Shandong Tiejun Electric Power Engineering Company.

Under the subcontract, the company will handle the construction of offshore marine works in Jubail 3A Independent Water Project located at Jubail city in Saudi Arabia, according to Arabtec's disclosure to the Dubai Financial Market (DFM) on Sunday.

It is noteworthy to mention that in the first half (H1) of 2020, in early October, the company's shareholders have voted for the company's non-continuity and dissolution due to its unstable financial conditions.