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RELATED ARTICLES: Abdullah Al-Khodari gets mandate to clean Al Jouf | Al-Khodari in three-way tender for medical project | Abdullah Al-Khodari wins Taibah University deal
Abdullah Al Khodari & Sons said it has won a contract to build a general hospital in a compound run by Saudi Aramco from Saudi’s Ministry of Health worth more than SAR 134m ($35.72m).
The Saudi contractor said the 100-bed hospital will be built within a 36-month time frame in the oil-giant’s camp, situated in the Eastern Province of the country, 60km southwest of Dammam. The camp is for workers overseeing the pumping of oil which has passed through a gas-oil separation plant to Ras Tanura, where it is exported.
Al-Khodari is a multi-discipline contractor based in Al-Khobar. It competes for contracts across building, infrastructure, utilities and civil construction.
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Since its listing on the Tadawul stock exchange in Riyadh last year, the company has won a string of contracts across these sectors, including repeat work from Saudi Aramco – such as the construction of a gas plant in Wasit – the Ma’aden-Alcoa joint venture which is constructing Saudi’s first aluminium facility, as well as mandates from the ministries of higher education and public works.
Earlier this year the company signed a Memorandum of Understanding with Balfour Beatty Group and Saudi Kier Construction to jointly prequalify for the construction of the railway link from Ras Az Zawr.
It also secured the renewal of two two murahaba-compliant loans with Banque Saudi Fransi and SAMBA Financial Group, worth $183.4m (SAR 687.8m) and $171.45m (SAR 643.6m) respectively to “provide bonding commitments and to fund capital requirements and working capital needs for the company's specific projects and general businesses”.
Al-Khodari shares fell 0.391% yesterday to close at SAR 63.75.
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