OAPEC

AREC Signs Cooperation Agreement with Algerian Firm

The Arab Engineering Company (AREC) and the Algerian state-owned National Company for Engineering Projects (ENEP) have signed an umbrella cooperation agreement for the execution of joint projects in Algeria. AREC is the newest OAPEC-sponsored company, having been established in July 1981 with headquarters in Abu Dhabi. It has a subscribed capital of $12.76mn and paid-up capital of $7.65mn, and is intended to undertake basic...