Al Khodari, Saudi Kier drop Eastern Province deal
22-month collaboration which failed to secure projects is terminated
Saudi Arabian contractor Abdullah AM Al Khodari & Sons has announced that it has cancelled a two year-old deal with Saudi Kier Construction to jointly bid for major projects within the Kingdom's Eastern Province.
The pair had announced a deal in May 2011 to jointly prequalify for projects in the oil & gas, power, water and industrial sectors.
However, Al Khodari said yesterday that it had decided "to terminate the aforementioned memorandum of understanding".
During its lifespan the joint venture did not win any projects and Al Khodari said the deal "had no financial impact" on the company.
Saudi Kier is one of several Middle East ventures entered into by UK-based contractor Kier Construction. The company also has subsidiaries in Dubai, Hong Kong, Romania and Trinidad & Tobago.