Arabtec Palestine Nablus water project

[ITSME]

Just now I read the news on Zawya site regarding the new order recieved by ARABTEC.

Hope positive response from the Market tomorrow...what do you guys think?

Press Release 20 January 2010:

Arabtec Construction signs an agreement for Water Loss Reduction Phase Two Nablus- Palestine Project with Nablus Municipality Arabtec Construction LLC (ARTC) and Al Mukawilon Contracting Company Ltd. Joint Venture have signed an agreement with Nablus Municipality for the Water Loss Reduction Phase Two project for the sum of AED 44.7 million. The time for completion is 20 months. The project is financed by KFW Bank (Kreditanstalt Fur Wiederaufbau BankenGruppe) and is a part of the donations program set for Nablus Municipality. This project is of high importance and has been implemented within the strategic plan developed by the municipality which stipulates changing and developing the major and minor water networks and domestic water connection in the entire areas of Nablus city including several streets to reduce the water cost on consumers. Mr. Riad Kamal, the CEO of Arabtec Holding PJSC stated "This is an important social project for helping the people of Nablus, and is part of our geographic expansion in the MENA Region."