Arabtec said in a statement to the Dubai Financial Market today, Tuesday, that its subsidiary (Al Hadaf Engineering Construction) will replace 5 tanks with the Ras Tanura refinery in the eastern region of Saudi Arabia, which is affiliated with Aramco.
She explained in the statement that the company's scope of work includes the replacement of 3 tanks for storing naphtha, and the number of 2 tanks for residual oil residue.
Arabtec announced in mid-June that the company’s accumulated losses amounted to about 671.25 million dirhams, to constitute 44.7% of its capital.
The company made losses of 773.8 million dirhams at the end of last year, compared to a profit of 256.3 million dirhams achieved in 2018.
(Fun Knowledge of Knowledge)
