Al Hassan wins $15mn Siemens contract
Muscat-listed contractor pens deal to build substations for Dubai Electricity and Water Authority (DEWA).
Al Hassan Engineering Co. Dubai has signed a letter of intent (LOI) with Siemens for construction of a DEWA substation.
The subsidiary, controlled by Al Hassan Engineering Co. owning 99% of its share capital, received the letter for the 132Kv DEWA substation for DEWA worth $14.9m (AED54.8m).
The duration of the project is 12 months, according to the company filing on the Muscat Securities Market.
"We expect reasonable income from this project,” said the contracting firm in the filing.