Al Khodari to deliver $108m maternity hospital
Company to start work on two-year first phase this month
Abdullah AM Al Khodari & Sons has signed a contract with the Saudi Arabian Ministry of health to build a new 300-bed maternity hospital in Qatif at a value of $108.5m (SR: 406.9m).
The company said that the project is due to start by the end of September. The first phase phase of the contract will take two years to deliver and is valued at $65.4m (SR245.4m).
The signing comes on the back of yesterday's news that the company has landed $120m worth of street cleaning contracts in three Riyadh districts - covering Nassim, Sulai and Shumaisi.
Dammam-based Al Khodari currently generates around 95% of its income from government projects. In the first six months of 2013, the company reported a 49% decline in net profit, which it blamed on "continued pressure from labour market reforms" aimed at boosting the number of Saudis working in the sector.