Abdullah Al-Khodari gets mandate to clean Al Jouf

Al-Khodari covers a number of areas of contracting.

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Abdullah Al Khodari & Sons, the Saudi contractor, said it has signed a SAR 23.9m ($6.37m) contract with the Ministry of Municipal Affairs to clean Al Jouf in the north of the kingdom.

The Al-Khobar contractor said it had received its copy of the contract yesterday. The contract will run for three years and will make a financial impact on the company’s balance sheet by the end of this quarter.

Al-Khodari is a civil engineering and contracting company that is competitive across building, infrastructure, utilities and industrial projects. It has won numerous deals since the start of the year, including a SAR 108.7m ($29m) contract to supply a piping system to the Ma’aden-Alcoa aluminium project, a SAR 120m ($32m) deal to build the second phase of the Border Guards airport in Umm Almelh as well as work with other government authorities.

Analysts at Global Investment House have warmly received Al Khodari since it listed as a public entity last year, citing its strength through its various disciplines.

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In May the company renewed loans from Banque Saudi Fransi and SAMBA Financial Group to fund the pursuit of new projects as it expands in its own country around the Gulf. The company is believed to be considering an office in Qatar to add to its UAE base in Abu Dhabi.

Abdullah Al-Khodari shares closed down 1.569% to SAR 62.75