Al Khodari lands $170m deal at phosphate complex
Al Khobar-based contractor to undertake Well Field project at $7bn project in northern KSA
Saudi Arabian contractor Abdullah AM Al Khodari & Sons has announced that it has been awarded a contract worth $170m from Saudi mining company Maaden.
The Al Khobar-based firm said that the contract covers a well field package at the new $7bn phosphate complex being overseen by Maaden at the new Waad Al Shamal industrial city planned
The company said that it received a letter of award for the contract last week, and that further details of the deal would be revealed once the contract is signed.
Al Khodari & Sons recently announced a 57.3% increase in net profits for 2014 to $26.9m. The company added that the value of new contracts won during the year increased by 8% to $777m, and its end of year backlog was 19% higher at $1.16bn.
Last month, Maaden awarded a $150m contract at the city to Al Rashid Training & Contracting. Its deal covers infrastructure work and housing for staff, including 70 villas, 189 apartments and 232 studio properties under the contract, as well as roads, utilities networks and fire stations.