الرئيسية
By Arab News
JEDDAH: Dubai-based Arabtec Holding said it received a letter
of award to proceed with works for a SR670 million ($179 million)
construction project in Jeddah.
“The award of this project
demonstrates further the strategic importance of the Saudi market for
Arabtec. This is the third major project awarded to Arabtec Saudi
Arabia,” said Arabtec Holding Chief Executive Officer Riad Kamal in a
statement posted on the Dubai Financial Market website.
Arabtec
said it expected the award to increase in value to around SR1.5 billion,
adding that negotiations were ongoing to finalize this increase.
JEDDAH: Dubai-based Arabtec Holding said it received a letter
of award to proceed with works for a SR670 million ($179 million)
construction project in Jeddah.
“The award of this project
demonstrates further the strategic importance of the Saudi market for
Arabtec. This is the third major project awarded to Arabtec Saudi
Arabia,” said Arabtec Holding Chief Executive Officer Riad Kamal in a
statement posted on the Dubai Financial Market website.
Arabtec
said it expected the award to increase in value to around SR1.5 billion,
adding that negotiations were ongoing to finalize this increase.