A Saudi Arabian university has not signed $84 million in construction contracts agreed last year with Abdullah Al Khodari Sons Company, the builder said on Wednesday, another sign that the oil price slump has forced state spending cut-backs.
Saudi Arabia's Abdullah Abdul Mohsin Al Khodari Sons has withdrawn its application with the Capital Market Authority for a capital increase due to current market conditions, it said in a statement on Monday.
The builder in Nov
Major Saudi Arabian construction firm Abdullah A M Al Khodari Sons expects the government to compensate it for some of the costs of labour reforms, a senior executive said, in a sign authorities aim to cushion the economic impact of the reforms.
Saudi Arabia's Abdullah Abdul Mohsin Al Khodari and Sons said it expects to submit its proposal for a capital increase to the market regulator by the end of the second quarter of this year.
The builder had announced last Novem
Saudi Arabian builder Abdullah Abdul Mohsin Al Khodari and Sons said on Sunday it had signed a contract worth SR313.2 million ($83.5 million) with the Ministry of Health for the construction of a hospital in the kingdom.
Saudi Arabian builder Abdullah Abdul Mohsin Al-Khodari and Sons said on Thursday it had been awarded a $170 million contract from a unit of Saudi Arabian Mining Co (Ma'aden).
The contract with Ma'aden Waad Al Shamal Phosph
Saudi construction firm Abdullah Abdul Mohsin Al Khodari and Sons has won a SR1.35-billion ($359.7 million) contract from the government for the construction of staff housing at King Khaled University, it said in a statement on Thursday.
Major Saudi Arabian construction firm Abdullah Abdul Mohsin Al-Khodari and Sons said it may double its capital spending in coming years to cope with the work it hopes to do on the country's big infrastructure projects.
Major Saudi Arabian construction firm Abdullah Abdul Mohsin Al Khodari Sons has reported a 23.1 per cent rise in its third-quarter net profit in line with analysts' estimates.
The company made a profit of SR15 million ($4 mill
Major Saudi Arabian construction firm Abdullah A M Al-Khodari Sons said on Sunday that its net profit for the first quarter of this year jumped 78 percent on the back of earnings from an auction of plant and machinery.