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DUBAI - Arabtec Holding ( ARTC ), listed on the Dubai market, rose on Wednesday, boosted by the companys announcement that it has won a new project in the UAE.
At 10:52 am, Arabtec rose 1.05% to AED 1.92, with a liquidity of AED 7.85 million, trading 4.05 million shares through 95 transactions.
Arabtec was the best performer for the day, with the DFM gaining 0.27% to close at 2,761.38 points, with a total volume of 36.67 million shares, at a total value of AED 37.758 million.
Arabtec today announced that it has won a contract worth AED 3.2 billion with Tadekas Reunidas, the
second phase of the ADNOC LNG Expansion Project. October 2018 for 54 months.
The scope of Hadafs business through this partnership will include the construction of a gas processing chain, off-site support facilities and facilities.
This will allow it to transfer an additional 245 million standard cubic feet per day of low pressure gas from Das Island to Habshan in the UAE.
She explained that the preparation of the engineering design of the basic stages of the project was made by the company "Fluor" with the appointment of "death McDonnad" consultant to manage this project.
Arabtec revealed in mid-October that Arabtec Engineering Services, one of the Groups subsidiaries, had won the change order for DS189 for the sewage and rainwater system for AED 155 million from Dubai Municipality .
The company revealed in mid-June for Emirates Falcon Electromechanical "Iveco win " one of its subsidiaries hold a mechanical, electrical and plumbing works for the plot of land 19 in the Creek Horizon project Emaar Properties developmental Dubai Creek from the main contractor AFC.
The towers will include 550 apartments, and the project is scheduled to start in June 2018 for 20 months .
In April, the company announced that its Arabtec Engineering Services Company had won the AED 433 million Dubai Municipality project for the sewage and rainwater system for Jebel Ali Industrial Area .
The project includes a network of 65 km of sewage and 91 km of rainwater; the project aims to provide drainage and rainwater services for the 599 area in Jebel Ali Industrial Park .
Arabtec at the beginning of last March also revealed Arabtec Construction Company won a subsidiary that full ownership of the group back a contract worth 424 million dirhams from DAMAC Properties to create 916 villas in the project "Akoya oxygen " the main developmental .
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