Target Engineering News Today

Deal creates an entity with combined turnover of around $2b

In a major move, ALEC Engineering and Contracting, a part of Dubai wealth fund ICD (Investment Corporation of Dubai), has signed a share purchase agreement to acquire Target Engineering, a leading EPC contractor for marine and industrial construction.

By acquiring 100 per cent of the company, Alec will now enhance its resources with the significant assets held by Target Engineering.

Acquiring Target Engineering further strengthens Alec’s established capabilities in marine and industrial construction while enabling the construction company to mar...

RIYADH: The UAE’s First Abu Dhabi Bank has launched a new sustainability-linked current account for corporate clients in an effort to help companies achieve environmental, social, and corporate governance objectives. As with traditional current accounts, FAB corporate clients will be able to use their sustainable accounts to retain their intraday liquidity for business needs,

Abu Dhabi National Oil Company has announced the award of two substantial contracts.

The UAE took another step towards its goal of boosting its oil production to over 5 million barrels per day with its awarding of a huge EPC contract

The UAE’s decision to let ADNOC develop its Umm Shaif offshore oil field is of major geopolitical importance as China continues to fail to establish a foothold in the Emirates

Technip Energies has been awarded a contract by ADNOC to update the FEED for the Ghasha project including the integration of carbon capture.

Borouge, a leading petrochemical company providing value-creating polyolefin solutions, has awarded EPC contracts for the $6.2 billion world-scale fourth expansion of its manufacturing complex in Ruwais, Abu Dhabi (Borouge 4).