Abdullah Al-Khodari signs $32m airport contract
Firm to work on second phase of Border Guard airport in Umm Almehl
Abdullah Al Khodari & Sons, the Saudi contractor, said it has won a deal to build the second phase of Border Guard airport in Umm Almelh worth SAR120m ($32m).
The listed civil engineering and construction company has extended its work on the project after working on the first phase, one of its current projects. The company is yet to announce the start date for the second phase.
Al Khodari, based in Al-Khobar, competes for contracts across building, infrastructure, and utilities projects in Saudi Arabia. The company is also looking to expand throughout the Gulf, and last year established a fully-owned office in Abu Dhabi. The company is also contemplating establishing an office in Qatar, according to Jim Pollitt, business development manager, to capture some of the major infrastructure work in the gas-rich state.
Meanwhile, the company said it has received the letter of award from the Ministry of Higher Education for the second phase of various buildings at Taibah University, a SAR 110m contract first reported by CW on 11 May. The company has since stated that the proceeds from the contract will appear in the third quarter.
Last month 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 – site of the upcoming aluminium manufacturing project between Ma’aden and Alcoa - to Jubail and from Jubail to Dammam. The three firms will work jointly on the project if awarded.
Al-Khodari’s shares closed down 3.019% to SAR 64.25, still off its SAR 70.93 high reached on 14 June.