(Yicai) Jan. 23 -- Geoharbour Construction Group, a Chinese geotechnical engineering services provider, said its subsidiary has secured a contract worth around AED70 million (USD19 million) for a Dubai Islands project.

Geoharbour Middle East Construction won the contract from a subsidiary of Dubai Holding for the "Ground Improvement & Grading Works of Dubai Islands" project, the Shanghai-based parent firm announced yesterday. The project will last 150 days, it added.

Geoharbour Middle East will provide foundation treatment, ground improvement, and other engineering services to meet initial construction requirements, the parent company noted.

Securing the contract marks Geoharbour's further expansion into the Middle East, enhancing its brand influence and core competitiveness in the region, the company noted. The deal also lays a solid foundation for undertaking larger and more technically complex projects in the future, further consolidating the firm's leading position in the global geotechnical engineering field, it added.

Shares of Geoharbour [SHA: 605598] closed down 0.9 percent at CNY21.49 (USD2.95) each today. The broader Shanghai market rose 1.4 percent.

Editor: Martin Kadiev