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12 February 2014
Emirates Falcon Electromechanical Company (EFECO), a subsidiary of Arabtec Holding has secured an AED878 million ($239 million) joint venture (JV) contract to perform maintenance works at the new Abu Dhabi International Airport Midfield Terminal Building (MTB).
As part of the deal, EFECO will carry out mechanical, electrical, and plumbing (MEP) works in collaboration with BK Gulf, and China State for the 700,000m² terminal building.
The MTB project is currently under construction by a JV of Arabtec Construction, TAV Construction, and Consolidated Contractors International.
Arabtec Holding managing director and CEO Hasan Abdullah Ismaik said the company is pleased with the new contract win.
"EFECO is on a fast track to establishing its name as a leader and key player in the MEP sector in the Middle East and North Africa region," Ismaik added.
"We also have a strong aspiration to develop the company into a global leader in the MEP sector, and we have the right senior management, with some of the best talent in the industry, to grow the business and maximise shareholder value."
According to the company, the terminal building will be capable of accommodating about 65 aircraft including the Airbus A-380 and has an expected annual capacity of 30 million passengers.
11 February 2014
Dubai-based developer Nakheel has awarded three new contracts totalling AED41m ($11.16m) for development work at Al Furjan and Warsan Village master communities.
Two of the newly-awarded contracts, worth AED13.6m and AED2.9m, covering infrastructure design and supervision for hundreds of third party villa and mixed-use plots at a new phase of Al Furjan were handed to consultants Arif & Bintoak and Dar Al Handasah, respectively.
The new phase of Al Furjan spans over 1.2 million square metres, and includes over 500 third party villa plots and more than 30 mixed-use plots already sold by Nakheel.
Phase I, which contains 800 homes, is already complete.
Besides this, Dubai-based international architect AE7 has secured a contract worth AED24.6m to design and supervise work at Warsan Village.
Launched in September 2013, Warsan Village is a gated community spanning 47.5 hectares, with 942 townhomes, 250 apartments, a retail plaza, mosque and recreation centre.
Tenders for construction of the project are now floated, with proposals due this month.
China Harbour awarded $205m Saudi port contract
11 February 2014, By Kevin Baxter
Three new berths for phosphates city will be constructed at Ras al-Khair port in Eastern Province
Saudi Ports Authority has awarded China Harbour Engineering Company a contract for the dredging and construction of three berths at the port at Ras al-Khair Industrial City in the Eastern Province.
The contract is worth $205m and the three berths will service the exports of phosphate products produced at the planned Waad al-Shamal phosphates city at Turaif in the north of Saudi Arabia.
The scope of works will include the dredging and reclamation of 28 million cubic metres, and construction of berths totalling 1.26 kilometres. China Harbour will also demolish the existing breakwater and construct a new one with a length of 1.58km as well as carry out ground improvements including drainage and pavements.
The contract will last for 31 months. China Harbour has already carried out two earlier phases at the Ras al-Khair port.
Saudi Arabian Mining Company’s (Maaden) hopes to start phosphate processing at Waad al-Shamal in late 2016. Its output is expected to total 16 million tonnes a year (t/y), including 3 million t/y of phosphate fertilisers and 440,000 t/y of downstream products that will be used in food, detergent and animal feed production.
The project is now under execution and Maaden will retain a 60 per cent stake in the scheme. Other shareholders include the US’ Mosaic that holds a 25 per cent stake while Saudi Basic Industries Corporation holding the remaining 15 per cent.
Joint venture wins contract for Abu Dhabi Midfield Terminal
10 February 2014, By Jeff Florian
Arabtec subsidiary teams up with local and Chinese firms to carry out mechanical and plumbing works
The local Arabtec Holding has announced that its subsidiary, Emirates Falcon Electromechanical Company (Efeco), has won a AED878m ($239m) joint venture contract to carry out mechanical and plumbing work at the new Midfield Terminal Building (MTB) at Abu Dhabi International airport.
The 700,000 square-metre terminal building will be able to accommodate up to 65 aircraft, including the Airbus A380, with an expected capacity of 30 million passengers a year. Check-in will provide 165 conventional counters and 48 self-service kiosks capable of handling 8,500 passengers, both arriving and departing, an hour.
The MTB project is currently being built by a joint venture of Arabtec Construction, Turkey’s TAV Construction, and the local Consolidated Contractors International, which awarded the contract for mechanical and plumbing work to a joint venture of Efeco, the UAE-based BK Gulf, and China State Construction Engineering Corporation. Efeco will play a full role in delivering the complex mechanical scope of the project.
“We are pleased with this new contract win, adding to Efeco’s already impressive backlog, which has already crossed the AED1bn mark,” said Hasan Abdullah Ismaik, managing director and CEO of Arabtec Holding.
Efeco became a fully owned subsidiary of Arabtec in October 2013, when Arabtec Construction completed the acquisition of the remaining 45 per cent stake in the company. Following the acquisition, Arabtec Holding injected AED500m into the company’s share capital to grow the business by investing in equipment and machinery, enabling Efeco to bid for higher-value projects and expand into other Gulf countries, as well as Egypt and other North African countries.
Arabtec to build 37 towers for Aabar Properties in Abu Dhabi and Dubai
3 February 2014
Arabtec Construction has signed an agreement with Aabar Properties' subsidiary Aabar Investments for design and construct 37 towers in Abu Dhabi and Dubai for a total contract value of AED22.440 billion ($6.9 billion).
The contract, which is said to be one of the largest development in the region's real estate sector, also represents Arabtec's biggest project in terms of value.
Under the deal, Arabtec will construct 37 mixed-use, residential, and hotel towers in Abu Dhabi and Dubai that will include nine mixed-use towers in the Tomouh City of Lights development in Abu Dhabi.
Arabtec will also build four mixed-use towers in Reem Island development, while the fourteen towers of residential component include two in Rawdhat Abu Dhabi, seven in Al Raha Beach, three in Maysan, and two in Shams.
The contract also includes construction of a five star hotel, which will be managed by the Hard Rock International in prime location on the Abu Dhabi Corniche.
Aabar Properties chairman HE Khadem Al Qubaisi said the company is proud for being the principal shareholder in Arabtec which has become one of the leading business groups in the region.
"It was only natural that we award this contract to them, and this is just the beginning of what we hope will be long-term cooperation between us," Al Qubaisi added.
Arabtec Holding managing director and CEO Hasan Abdullah Ismaik said, "This project award to the tune of AED22.440 billion, and last week's AED5.7billion contract for themed entertainment resort in Jordan, are strong signs that our robust performance in 2013 will gain further momentum in 2014."
Construction is slated to begin in the first quarter of 2014 and the projects are scheduled for delivery before 2020.
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