International lenders did not disclose specificities, but said it was part of global cost-cutting plansNovember 26, 2015 11:32
UAE’s Arabtec unit wins $56 mln contract for Shah ga
The contract awarded by Italy's Saipem SPA includes construction of 12 substation buildings and equipment shelters with a total area of 20,000 square metres.
February 20, 2011 2:52 by Reuters
A unit of Dubai-based Arabtec Holding has won a 206 million UAE dirham ($56.08 million) construction contract for the Shah Gas development project in Abu Dhabi, the company said on Sunday.
Target Engineering Construction Co would start work on the project from March 1 and construction was expected to last 33 months, Arabtec said in a statement released on the Dubai bourse.
The contract awarded by Italy’s Saipem SPA includes construction of 12 substation buildings and equipment shelters with a total area of 20,000 square metres.
Abu Dhabi National Oil Company (ADNOC) has awarded Occidental Petroleum its giant $10 billion Shah gas project, after U.S. energy major ConocoPhillips pulled out of the project last year.
(Reporting by Shaheen Pasha and Praveen Menon; Editing by Humeyra Pamuk and Nick Macfie))