Absal Paul wins $136m Saudi contracts
Riyadh, January 6, 2014
Absal Paul, a leading international project management and contracting firm based in Saudi Arabia, said it has secured contracts worth an estimated €100 million ($136 million) in the kingdom.
The Saudi firm is a collaboration between Irish building and civil engineering contractor John Paul Construction and the Absal Group.
Established in 2012, Absal Paul is renowned for executing complex projects through procurement models tailored to its clients' needs and catering to all sectors of the construction industry, from its head office in Riyadh and international locations in Abu Dhabi, Dubai, London and Dublin.
The recent success is the result of a combination of high-profile projects, including work with The Saudi Stock Exchange (Tadawul), Haliburton, Boeing and General Electric (GE), said a top company official during the Enterprise Ireland Trade and Investment Mission to Saudi Arabia, Qatar and UAE.
Eddie Campion, the chief operating officer, Absal Paul, said, "We currently employ almost 70 permanent management staff of which 20 are senior Irish construction professionals with the remaining coming from Saudi, other Middle East countries and Asia. We are also continuing to increase our general workforce in line with our growing business."
We believe that Absal Paul Contracting represents a good example of what can be achieved when true partnerships are formed between Irish and Saudi companies who share similar goals and ambitions, noted Paul.
"We feel that now is the right time is to publically announce this partnership and to build on the success that has been achieved to date. We are continuing to develop our profile within the Kingdom and looking to increase our exposure to a greater number of potential clients," he added
Speaking at Absal Paul headquarters, the Taoiseach, Enda Kenny said: "The Absal Paul partnership continues to win significant new contracts in this highly competitive market. This is a partnership that has a well-earned reputation for excellence and quality."
"It is a collaboration that clearly demonstrates the huge potential for Irish companies and their partners in the Kingdom of Saudi Arabia and I wish them every continued success," he noted.
Irsih Minister for Jobs Richard Bruton TD said: "Construction and engineering are areas which we have targeted as part of our Action Plan for Jobs, and Absal Paul's success in winning major contracts in Saudi Arabia is a great endorsement of the strength of Irish exporting businesses."
Since its formation in 1980, the Absal Group has firmly established itself as one of the leading, management manufacturing, real estate and contracting services provider.-TradeArabia News Service