Exclusive: ALEC’s CEO Kez Taylor discusses $100mn TARGET Engineering acquisition ...United Arab Emirates

Dubai-based contractor, ALEC Engineering & Contracting – part of the Investment Corporation of Dubai – recently announced that it had signed a share purchase agreement to acquire TARGET Engineering Construction Company, the oil and gas EPC contractor that was formerly part of Arabtec. The agreement will see ALEC acquire 100% of TARGET, enhancing its resources significantly through the latter’s 11,000-strong workforce, marine vessels, and fabrication facilities. In addition, the deal includes TARGET’s controlling stake in IDROTEC srl, the Italian specialised marine design engineering firm. With the acquisition set to have a significant impact on the future and performance of both entities, Bi

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Exclusive: ALEC’s CEO Kez Taylor discusses $100mn TARGET Engineering acquisition ...United Arab Emirates

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