Dubai’s ALEC acquires TARGET Engineering Construction Company

Dubai’s ALEC acquires TARGET Engineering Construction Company

ALEC Engineering and Contracting (ALEC), a part of the Investment Corporation of Dubai (ICD), has signed a share purchase agreement to acquire TARGET Engineering Construction Company. With this agreement, the companies will have a joint turnover of close to $2 billion.

Founded in 1975, TARGET Engineering operates through four specialized divisions, Mechanical Oil & Gas, Electrical, Civil, and Marine. The company’s customer base is comprised of leading Oil & Gas companies, major Engineering, procurement, and construction (EPC) contractors, government entities and property developers.

Noteworthy projects that it has completed include work at ENEC’s Barakah Nuclear Power Plant, ADNOC Gas Processing’s Ruwais LNG Terminal, Saudi Aramco’s Abqiq plant, and ENOC’s Jebal Ali Refinery expansion. Included are also TARGET Engineering’s current active projects including Borouge 4 and Delma B in a joint venture for ADNOC, and IGDC for ADGAS.

Kez Taylor

CEO – ALEC “ALEC has an established track record of continuously enhancing the skills and capabilities within the organization, and leveraging this expertise to enter into, and become a market leader in new market segments. Bringing TARGET Engineering within our fold is a move that plays to both these objectives as their specialist skillsets in Oil & Gas, Energy, including renewables, marine, and industrial construction,