Arabtec to strengthen oil, gas installation business

by Agencies
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Dubai: Arabtec Holding Co. will use most of the proceeds from a rights offer and bond sale to bolster its oil and gas installation business. Arabtec, the United Arab Emirates' biggest construction company, last month announced a plan to raise 6.4 billion dirhams ($1.74 billion).

The company will expand its Target Engineering unit through geographic growth and some acquisitions, according to a statement yesterday.


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