Abdullah Al Khodari Wins two Storm water drainage contracts in Saudi worth US$ 70 mn

Posted on 18th June 2014

 Abdullah AM Al-Khodari & Sons has won two contracts in Saudi Arabia worth more than US$ 70 million (SR 271 million). The Saudi contractor signed a US$33 million (SR 125 million) deal with Riyadh Municipality for the construction of a storm water drainage network in Murooj, Massif and Nakhil districts of the city. The project is expected to take 30 months to complete. The company has also inked a five-year contract worth US$38 million (SR145 million) with the Ministry of Municipal & Rural Affairs for the cleaning of Hafr Al Batin.

Earlier this year the company reported that its profits more than halved in 2013 to US$ 17.2 million (SR 64.3 million).The results were blamed on higher costs, which rose by around 15%, and a fall in non-core income.

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