Arabtec wins $283m Aramco contract

Dubai’s Arabtec has been awarded a Dh1.04 billion ($283.16 million) contract from Saudi Aramco to build 380 villas in Saudi Arabia, the contractor said today.

Arabtec, which this week put four of its five Saudi subsidiaries up for sale, said it would complete the project in Al Dhahran within 28 months.

The company said it had also recently won other contracts from Saudi Aramco worth 930 million dirhams via unit Target Engineering.

Saudi Aramco is Saudi Arabia’s state-run oil company.

Source:  Trade Arabia

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