Al-Khodari in three-way tender for medical project

The medical facilities project is organised by Saudi's Ministry of Interior (pic illustration only).

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Abdullah A. M. Al-Khodari Sons Company, the Saudi contractor, said it has submitted a joint bid with Al-Yamama Company for Trading and Contracting and Al-Kifah Group to be main contractor on a medical facilities project for the country’s security forces.

The project – known as the King Abdullah Bin Abdul-Aziz Project For Development of Security Facilities Security Forces Medical Complexes – has been coordinated through the Ministry of Interior in Riyadh and Jeddah. The three companies will jointly work on the project if they are awarded the deal.

Al-Yamama Company for Trading and Contracting is a diverse contractor that has executed projects on railways, buildings, housing complexes, tactical military sites, pumping stations, electrical substations, and towers to private and government clients. It is part of the Al-Yamamah Group that has divisions in real estate, facilities management, and commercial trading activities such as logistics and lumber.

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Al Kifah Group, an Al-Khobar based company like Al-Khodari, provides a range of services in its construction division, including material and equipment, contracting and precast. The group also has interests in real estate, electrical appliances and installations among other areas.

It is the second joint venture announced by Al-Khodari, an Al-Khobar based contractor that last year listed on the Tadawul stock exchange. In May, the company signed a Memorandum of Understanding with Saudi Kier Construction to jointly bid for energy, utilities and industrial projects in the Eastern Region.

The company posted after-tax profits of SAR 39.2m for the first quarter 2011, up 2% on the same period in the previous year.

Meanwhile, Al-Khodari said it has received the contract for the second phase of the construction of sewage works Wadi Al-Dawaser, awarded to the company by the Ministry of Water and Electricity on 20th April. The 36-month contract is valued at $15.11m (SAR 56.7m). The project will have an impact on the company’s balance sheet by the third quarter, the company said.

Al-Khodari shares, which have risen almost 30% since the start of the year, were trading up 2.25% to SAR 71.50 at 13:38pm on Sunday against the previous closing price.