SISCO set to complete Red Sea terminal before year-end, says CEO

13/07/2017 Argaam

The chief executive officer of Saudi Industrial Services Co. (SISCO) said the Red Sea gateway terminal project will be completed before year-end as scheduled.

 

In an interview with CNBC TV, Mohammed M. Kamal Al-Mudarres said SISCO currently has around SAR 950 million in debt.

 

Meanwhile the company plans to undertake other expansion projects, including a desalination plant and logistics hubs, worth nearly SAR 400 million.

 

As for the newly-applied expatriate fees in the Kingdom, Al-Mudarres said the company will share part of the fees which the expatriates should pay for dependents and escorts, while those earning higher salaries will bear them fully, he noted.

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