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SHARE Arabtec is planning to sell its two subsidiaries Target Engineering and Arabtec Engineering Services (AES) as the construction giant faces liquidation. The move will help the company in “protecting the value of liquidation assets in the interest of all of its creditors", Arabtec said in a statement to the Dubai Financial Market on Wednesday. The company’s shareholders in September authorised the board to file for liquidation due to its untenable financial position. “In the event a sale of any of the company’s subsidiaries or their assets is agreed, any such sale will be subject ...

Penspen, a leading provider of engineering and project management services, said it has been signed up by UAE-based Target Engineering Construction to provide detailed engineering works for crude oil tanks at the Jebel Dhanna facility in Abu Dhabi.

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Penspen, a leading global provider of engineering and project