Dubai – Mubasher: Arabtec Holding’s stock has seen a positive performance early Monday following securing an additional AED 315 million contract by Tecnicas Reunidas to implement the construction works for ADNOC Onshore’s Bu-Hasa Integrated Field Development Project.

This brings the total contract value to AED 836 million after Target Engineering was awarded an AED 521 million contract to carry out mechanical and electrical construction works for the Bu-Hasa Integrated Field Development Project in November 2018.

By 11:15 am UAE time, the stock jumped by 2.72% to AED 1.51.

Meanwhile, around 958,470 of Arabtec Holding’s shares were exchanged at a turnover of AED 1.442 million.

Arabtec said earlier this morning that the contract works will commence in June 2019 for a 28-month period.

Moreover, the Dubai Financial Market (DFM) added 18.61 points, or 0.70%, to 2,658.36 points.

It is worth noting that Arabtec closed Sunday’s trading session at AED 1.47.