ALEC Holdings PJSC announced that its subsidiary, Target Engineering Construction Company – SP LLC, has secured three major Engineering, Procurement and Construction (EPC) project contract awards across the Gulf region.
According to the company, the combined value of the three projects is approximately USD 500 million, with execution periods ranging between 10 months, 21 months and 36 months.
Key highlights:
• Target Engineering secured 3 major EPC contract awards
• Combined project value of approximately USD 500 million
• Projects located across the Gulf region
• Execution periods of 10 months, 21 months and 36 months
• Revenue expected to be recognized over the respective project durations
ALEC stated that the financial impact of these contract awards is expected to be reflected in the company’s results over the execution periods in line with its revenue recognition policy.
The awards further strengthen Target Engineering’s project backlog and reinforce its position as a leading EPC contractor in the region’s energy and infrastructure sectors.
Target Engineering is a subsidiary of ALEC Holdings and specializes in engineering, procurement and construction projects across the Middle East, serving clients across multiple industrial and infrastructure segments.
Source: Dubai Financial Market (DFM) Disclosure / ALEC Holdings PJSC
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.