AL-KHODARI SIGNS CONTRACT WITH MINISTRY OF HIGHER EDUCATION

With reference to the earlier announcement of 04/04/1432H corresponding to 09/03/2011G, Abdullah A. M. Al-Khodari Sons Company announces completion of the signing of the contract with the Ministry of Higher Education (King Faisal University) for construction of the Faculty of Engineering for Men (phase 2) within a period of 36 Months from the date of site handing over. The contract is valued at SAR 26,846,093 after cancellation of Furniture Division valued at SAR 16,005,401, as per the contract copy received by the company on 28/03/2012 after being signed by HE the President of the University. The financial impact of this project is expected to start from the second quarter of the financial year 2012.