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Target Engineering, a unit of UAE's Arabtec Holding has secured a contract from Saudi Aramco worth around 200 million Saudi riyals ($53.33 million).
The contract is for the replacement of three naphtha storage tanks and two slop oil storage tanks at Ras Tanura refinery by Aramco.
Last year, Target Engineering won a $74.6mn engineering, procurement, and construction (EPC) contract from Saudi Aramco to upgrade a produced water disposal facility at the Qatif gas oil separation plant in the kingdom's Eastern Province.
Arabtec is UAE’s largest-listed contractor. The company appointed Mubadala Investment Company’s deputy group chief executive Waleed Al Muhairi to lead the firm as chairman, as it continues to business amid difficult market conditions.
(Writing by Seban Scaria; editing by Daniel Luiz)
#UAE #ARAMCO #ARABTEC
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