This marks the fifth consecutive quarter of real estate price slowdownNovember 29, 2015 2:41
Abu Dhabi’s ACC, POSCO unit win $316 mln contract
POSCO Engineering & Construction Co and ACC will take about 30 months for completion.
September 22, 2010 12:46 by Reuters
A joint venture between the construction unit of South Korea’s POSCO and Arabian Construction Co (ACC) won a 1.16 billion dirhams ($315.8 million) contract to build a water storage and recovery system in Abu Dhabi.
The engineering, procurement and construction contract was awarded by the Abu Dhabi Water and Electricity Authority (ADWEA) in conjunction with the Environmental Agency of Abu Dhabi.
POSCO Engineering & Construction Co and ACC will take about 30 months for completion, ACC said in a statement on Wednesday.
The project will consist of an underground aquifer storage facility in Liwa with a capacity of 27 million tons of water for use in the event of a “water emergency,” the statement said.
(Reporting by Praveen Menon, Editing by Dinesh Nair)