News tagged "Contractor"

Al Hassan Engineering Company posts profit of US$ 2.4 mn

Al Hassan Engineering Company posts profit of US$ 2.4 mn

16th July 2019

According to *Constructionweekonline news report, listed Omani engineering, procurement, and construction (EPC) contractor Al Hassan Engineering Company has reported a significant increase in year-on-year profits for the first six months of 2019, according to the group’s unaudited financial results on bourse Muscat Securities Market.[..]

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Saudi Oger's debt valued at over US$ 10.7 bn

Saudi Oger's debt valued at over US$ 10.7 bn

23rd May 2019

According to *Constructionweekonline news report, a Riyadh court has calculated the accumulated debts of liquidated contractor Saudi Oger – hit in part by the 2015-16 slowdown in Saudi Arabia’s construction sector –  at more than $10.7bn (SAR40bn), local media reported.[..]

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DSI to sell stake in Abu Dhabi's Wahat Al Zaweya

DSI to sell stake in Abu Dhabi's Wahat Al Zaweya

11th April 2019

According to *Constructionweekonline news report, Drake & Scull International's (DSI) shareholders have approved a restructuring plan for the loss-making UAE contractor, including the divestment of shares in Wahat Al Zaweya, and potentially even closing down offices and subsidiaries.[..]

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Saipem awarded onshore drilling work in Saudi Arabia

Saipem awarded onshore drilling work in Saudi Arabia

14th March 2019

According to *Constructionweekonline news report, loss-making Italian engineering, procurement, and construction (EPC) contractor Saipem has been awarded onshore drilling work – both new and contract extensions – in Saudi Arabia and four other countries around the world.[..]

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Mohammad Atatreh resigns from board of DSI

Mohammad Atatreh resigns from board of DSI

29th November 2018

According to *Constructionweekonline news report, Mohammad Atatreh has resigned from the board of Drake & Scull International (DSI), the latest senior management change that comes two weeks after the troubled contractor's shares were barred from trading amid ongoing restructuring efforts.[..]

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ONEIC to be paid US$ 5.8 mn in payment dispute against Diam

ONEIC to be paid US$ 5.8 mn in payment dispute against Diam

29th October 2018

According to *Constructionweekonline news report, Oman National Engineering and Investment Company (ONEIC) will be paid $5.8m (OMR2.2m) after a court sided with the contractor in a payment dispute against the state-owned Public Authority for Electricity and Water (Diam).[..]

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DSI forms four-member committee to restructure firm

DSI forms four-member committee to restructure firm

24th October 2018

According to *Constructionweekonline news report, Dubai-listed loss-making contractor Drake & Scull International (DSI) has formed a four-member committee to manage the next phase of a long-running attempt to restructure the firm and return it to profitability. [..]

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