Al-Khodari nets SAR 1.4 bln worth of projects in H1-2015

Abdullah A. M. Al-Khodari Sons Company expects financial impact of the SAR 1.4 billion projects awarded to the contractor during the first half of 2015 to appear over the coming years, according to Fawaz Al-Khodari, CEO of the company.

He told CNBC Arabia that the company was continuously submitting offers to ministries, as well as to major companies for projects like the SAR 170 million Ma’aden contract. He stressed that such government projects are vital for the company’s growth.

Commenting on two projects the company was awarded by the ministry of transportation, worth SAR 147.3 million, the CEO said he expects financial impact of these contracts to start appearing in third quarter results.

Al-Khodari said the company’s plans for a SAR 500 million capital increase are on track, and he expects the request to be submitted in July once necessary procedures are finalized.