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Arabtec wins contract from Saudi Aramco worth SAR200 million

July 22, 2020

DUBAI, 21st July, 2020 (WAM) -- Arabtec Holding, a contractor for social and economic infrastructure, on Tuesday announced that its wholly-owned subsidiary, Target Engineering Construction Company, has been awarded around SAR200 million contract by Saudi Aramco for the replacement of five storage tanks at Ras Tanura Refinery in Eastern Province, Saudi Arabia.

In a statement by the company on the Dubai Financial Market website, Arabtec said that the project scope of works includes the replacement of three naphtha storage tanks and two slop oil storage tanks.

Commenting on the announcement, Arabtec’s Group Chief Executive Officer, Wail Farsakh, said, 'We are delighted to be continuing to build our relationship with Saudi Aramco in the Kingdom of Saudi Arabia. In line with our strategy, this important award further builds the group’s presence in the oil and gas sector.'

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