Saudi Binladin Group said to pay delayed wages

Saudi Binladin Group (SBG), Saudi Arabia’s largest contractor, has reached an agreement with the kingdom's labor ministry and police in Makkah to pay delayed wages to its employees, Middle East Economic Digest (MEED) reported, citing an agreement seen by the news agency.

Under the deal's terms, employees will be allowed to stay at home until salaries are cleared after the period of absence is deducted. Workers also have the option to leave the company and receive a final settlement, or transfer sponsorship to another company.

Nearly 2,000 SBG employees, including engineers, management staff and workers, had not been paid for four months. The delays led to protests in Makkah, local media reports revealed.

The contractor is said to be struggling with cash flow issues as it waits for delayed payments from the government. The firm had also been barred from winning new contracts in Saudi Arabia, until it's cleared in an inquiry related to the Grand Mosque crane accident in Makkah last year.