Arabtec Holding, the UAE-based contractor for social and economic infrastructure, has said that one of its units, Target Engineering Construction Company, has been awarded a $53.2 million contract by Saudi Aramco for the replacement of five storage tanks at the Ras Tanura Refinery in the Eastern Province of the Kingdom.

In a statement, the contractor said that the scope of works includes the replacement of three naphtha storage tanks and two slop oil storage tanks.

Speaking about the contract win, Wail Farsakh, CEO of Arabtec Group, said: “We are delighted to be continuing to build our relationship with Saudi Aramco in the kingdom.”

“In line with our strategy, this important award further builds the group’s presence in the oil and gas sector” he concluded.