Al-Khodari cancels joint venture agreement with Zachariades on construction of Bahrain schools

Abdullah A.M. Al-Khodari Sons Co. axed on Sunday a signed memo of understanding with G.P Zachariades Ltd on forming a pre-bid joint venture for a tender to build schools in Bahrain, the company said in a  statement to the Saudi bourse, Tadawul.

The termination had no financial impact on the company, the Saudi Arabia-based contractor added. 

On March 16, 2013, both companies signed a memo of understanding to jointly bid for a project to construct schools in Bahrain and to construct the project if they won the tender, according to data compiled by Argaam.