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Saudi’s Eastern Province builders plan new firm

Riyadh, August 31, 2014

Contractors in Ihsa, in Saudi Arabia's Eastern Province, are planning to establish a joint-stock company to carry out mega projects in the kingdom, a report said.

"We are currently conducting a study to establish a joint-stock company that will comprise as many Saudi contractors as possible," said Yousuf Al Tarifi, deputy chairman of Ihsa Chamber of Commerce and Industry and head of the Contractors' Committee, was quoted as saying by Arabic daily Alyoum, according to Zawya Projects News.

The focus of the new venture will be on large projects, highlighting local contractors’ capabilities to compete with larger firms.

"There are already some large companies that are capable of vying with other firms for contracts, but we want to make sure that [several] Saudi contractors in Ihsa are represented in this new company and can benefit from the awarded projects," Al Tarifi added.
 




Tags: Saudi | Construction firms |

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