AL HASSAN ENGINEERING’S ABU DHABI UNIT BAGS 3 CONTRACTS WORTH $35MN

MUSCAT: Al Hassan Engineering Co Abu Dhabi LLC, in which Al Hassan Engineering Co has a 49 per cent stake, has been awarded three contracts worth US$34.65mn.

Al Hassan Engineering, in a filing with the Muscat Securities Market (MSM) on Sunday, said the UAE unit received a letter of award from Abu Dhabi-based Takreer to manufacture, supply, test and commission four three-way values – worth AED7.1mn – for the hydrocracker plant at Ruwais.

The project duration is 12 months from September. The company also received a US$14.25mn sub-contract from Hyundai Engineering and Construction Co for construction of temporary site facilities at Satah al Razboot field development EPC package 4. The project duration is eight months from September.

Al Hassan Engineering Co Abu Dhabi also received a sub-contract from Hyundai Engineering and Construction Co for US$18.46mn for building works linked to the Satah al Razboot field development EPC package 4.

The project duration is 20 months from December 2014. Both sub-contracts are subject to approval from the client – ADMA-OPCO. Al Hassan Engineering said that reasonable income is expected from all three projects.

SOURCE: MUSCAT DAILY