Saturday 24 October 2009

United Arab Emirates seen awarding $21 billion in energy contracts

The United Arab Emirates was expected to award $21 billion worth of engineering and construction projects, many of which linked to the energy sector.

A senior French executive told a conference in Abu Dhabi that the UAE was preparing to launch tens of billions of dollars worth of projects by early 2010.

Technip senior vice president Arturo Grimaldi said around $25 billion worth of engineering, procurement and construction, or EPC, projects have already been awarded in Saudi Arabia and the UAE over the last nine months.

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