Penspen lands Abu Dhabi engineering services contract
Penspen, a global provider of engineering and project management services to the energy industry, has secured a detailed engineering project award from Target Engineering Construction Company, a leading engineering, procurement and construction (EPC) contractor in Abu Dhabi, UAE.
As per the deal, Penspen will be providing engineering works for the existing T-1517, 1518 and 1519 crude oil tanks in the Jebel Dhanna crude receiving facility.
This latest project is in addition to the ongoing detailed engineering contract awarded to Penspen by Target Engineering for the facility in Jebel Dhannna last year.
The scope of engineering support services Penspen will provide includes a site survey, insulation selection, tank dome roof design and a tank shell adequacy check due to the additional loading that will be taking place, says Penspen.
Checks for both tank foundation adequacy and tank shell and foundation/anchor bolt adequacy for wind and seismic activity will also be undertaken.
Penspen will develop structural engineering drawings with a bill of quantities (BOQ), as well as prepare tank modification drawings related to insulation cleats, dome roof support cleats and platform modifications as part of the remit.
On the new contract, Executive Vice-President (Middle East, Africa and Asia Pacific) Neale Carter says: “To be awarded further work in conjunction with the existing contract we have with Target Engineering is excellent and a great example of Penspen’s reputation within the Middle East market.”
L&T unit wins major Saudi power project contract
India’s top engineering and construction firm Larsen & Toubro (L&T) says one of its key subsidiaries, L&T Power Transmission & Distribution, has won two transmission line packages in Saudi Arabia which are worth around Rs10 billion to Rs25 billion ($137 million to $341 million).
The scope of work includes design, procurement and construction of 380-kV double-circuit overhead transmission line corridors running over 650 km long. These lines are expected to strengthen the grid in the Eastern Province of Saudi Arabia and facilitate power evacuation, says L&T.
A major player in the region, L&T is a specialist in engineering, procurement and construction projects, manufacturing, defence and services with over $21 billion in revenue. It operates in over 30 countries worldwide.
Arabtec hires global advisors for sale of Dubai engineering unit
Arabtec Holding, a construction company in the Middle East said it has signed up corporate advisory firms deNovo and Lumina Capital Advisers for managing the proposed sale of its key subsidiaries Target and Arabtec Engineering Services (AES).
Target Engineering is a leading EPC contractor offering in-house services for major construction disciplines in onshore and offshore areas, while AES is a provider of civil contracting services for infrastructure projects.
Arabtec in its filing to Dubai Financial Market, stated that in the event of a sale of any of the company’s subsidiaries or their assets being agreed, such sale will be subject to the approvals and ratifications as may be required under applicable UAE laws.
In December, the Dubai-based contractor had reiterated its decision to go ahead with the liquidation plans ‘due to its untenable financial position following the fallout from the coronavirus pandemic’ following a two-month period of discussions with key stakeholders.
Owing to inter-dependencies of certain subsidiaries of Arabtec, the application to the competent courts will also request that Arabtec Construction, Arabtec Constructions, Austrian Arabian Readymix Concrete Company and Arabtec Precast (collectively the Impacted Companies) be placed into insolvent liquidation simultaneously, it said in its filing to Dubai bourse.
Fluor to sell maintenance unit; add new businesses
Fluor Corporation, a global engineering, procurement, fabrication, construction and maintenance company, has announced an updated organisational and reporting structure that better aligns its business with identified growth markets and company strategy.
As per the plan, Fluor will be divesting its maintenance services unit in the first quarter and continue operations in only three business segments: energy solutions, urban solutions and mission solutions. Energy Solutions will focus on energy transition, chemicals and traditional oil and gas opportunities. Urban Solutions will pursue opportunities in mining, metals, advanced technol`ogies, manufacturing, life sciences, and infrastructure; while Mission Solutions will be focused on delivering solutions to US federal agencies and to select international opportunities.
Additionally, the EPC major has also set up two newly-consolidated functional organisations: Project Execution and Corporate Development and Sustainability.