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Al Khodari plans to expand in GCC, Egypt

Al Khodari plans to expand in GCC, Egypt
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Al Khodari
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Mubasher: Abdullah Abdul Mohsen Al Khodari Sons plans to expand in the GCC region and Egypt, said Kailash Sadangi, chief financial officer.

"We also seek to expand in the private sector," Sadangi said.

He added that the company's revenues from government projects declined to 72% from 95%, and its revenues from the private sector fell by 23%.

The value of newly-awarded contracts reached SAR 1.5 billion in 2015, compared with SAR 2.9 billion in 2014. In addition, the company's employees fell to 11,000 at the end of 2015 from 19,000 at the year-start.

"The costs dropped by SAR 45 million on lowering the number of employees," Sadangi said.

The value of under-construction projects reached SAR 3.91 billion in 2015, compared with SAR 4.37 billion in 2014 and SAR 3.68 billion in 2013.