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United Arab Emirates : ARABTEC's subsidiary EFECO bags $239mn JV airport MEP deal
Publish Date : 11-Feb-2014
Emirates Falcon Electromechanical Company (EFECO), subsidiary of Arabtec Holding PJSC, has received a $239mn joint venture contract to execute mechanical, electrical, and plumbing (MEP) work at the new Abu Dhabi International Airport Midfield Terminal Building (MTB).
The terminal building with an area of 700,000m2 will have capacity to house nearly 65 aircraft, including the Airbus A-380, with an expected capacity of 30mn passengers per year. Check-in will have 165 conventional counters and 48 self-service kiosks with capacity to manage 8,500 passengers arriving as well as departing per hour.
At present, the MTB project is being developed by a joint venture of Arabtec Construction, TAV Construction, and Consolidated Contractors International, which awarded $239mn project for MEP work to a joint venture of EFECO, BK Gulf, and China State. As per this contract, EFECO will be fully responsible in delivering the complex mechanical scope of the project.
Hasan Abdullah Ismaik, managing director and CEO of Arabtec Holding, stated that, "We are pleased with this new contract win, adding to EFECO's already impressive backlog which has already crossed the AED1bn ($272mn) mark. 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. 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."
In October 2013, EFECO became a 100% owned subsidiary of Arabtec, followed by the acquisition of of the remaining 45% stake in the company by Arabtec Construction.
