Abdullah Khodari signs $207.8m housing deal

Deal covers infrastructure works in several key cities

NEWS, Business

Abdullah AM Khodari & Sons has announced that it has signed a contract with Saudi Arabia's Ministry of Housing worth $207.8m (SR: 779.1m).

The deal, which was initially announced in February, covers the construction of infrastructure works in several locations including Buraidah, Al Rass, Al Shammassia, Al Badaye, Al Shnan and Hail.

The work will be completed within 720 days, and the financial impact of the project is expected to start from the first quarter of the 2013 financial year.

Last week, Al Khodari announced that it had been awarded a $6.6m from the Ministry of Water and Electricity to operate a sewage treatment plant at a migrants' housing area in Jizan.

The firm also recently announced that it was looking to win new business in Bahrain by setting up joint ventures to bid for major construction projects in the Kingdom, and that it has signed memorandums of understanding with two partners to bid for work across the highways and education sectors.

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