UAE-based builder Arabtec said a wholly owned subsidiary had won Dh930 million of contracts in Saudi Arabia’s oil and gas industry.
The projects include upgrading liquefied gas and refinery facilities for national oil firm Saudi Aramco, Arabtec said in a statement on Sunday.
It added that its subsidiary, Target Engineering Construction Company, will “improve the quality of the liquified gas station for Saudi Aramco in both Shadqam and Al Othmania”.
A further contract involves improving the system of the liquified petroleum drain at the main oil refinery in Abqiq, while another contract has been signed for the expansion of liquified gas facilities at the Yanbu refinery.
In total, seven contracts were agreed.
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The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
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