Arabtec unit wins $56m contract

The contract includes construction of 12 substation buildings and equipment shelters (FILE)

A unit of Dubai-based Arabtec Holding has won a Dh206m ($56.08m) 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 $10b Shah gas project, after US energy major ConocoPhillips pulled out of the project last year.

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