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FINANCIAL NEWS
Saudi Al Khoadari wins USD184m university contracts
26 Aug 2014
(MENAFN) Abdullah Abdul Mohsin Al Khodari and Sons Company, the major Saudi construction firm, has won three contracts from the Ministry of Higher Education estimated at USD184 million, Gulf News reported.
The contracts will be divided among two universities, allowing Al Khodari to build new facilities at Taibah University for USD99.70 million
Meanwhile, USD 83.98 million will be used to build facilities in Northern Borders University, with the construction of both projects expected to begin in the July-September period.
These contracts come after the company announced a 68.8 percent in its April-June net profit due to an increase in manpower costs.
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