Saudi Focus

In Brief

July 2018

Lamprell, Asyad to set up JV 

UAE-based Lamprell, a major provider of fabrication, engineering and contracting services, said it will join hands with Asyad Holdings to set up a joint venture company in the kingdom as part of its regional expansion strategy.

A key player in the kingdom, Asyad Holdings brings significant regional knowledge and forms part of a group of companies managing a diversified portfolio of businesses.

 The establishment of Lamprell Saudi Arabia is core to the Emirati group’s growth strategy where its primary focus to date is to develop International Maritime Industries, a major maritime yard in the Eastern Province, in joint venture between Saudi Aramco, Bahri and Hyundai Heavy Industries.


IHCC to build Makkah hospital

Middle East Healthcare Company, one of the largest healthcare service providers in Saudi Arabia, said it has awarded major contracts worth a total of SR600 million ($82 million) to International Hospital Construction Company (IHCC) for the design and construction of a 300-bed hospital and staff housing units in the kingdom.

As per the deal, IHCC, a specialist in providing turnkey solutions for healthcare, educational, and mixed-use projects, will build the Saudi German Hospital in Makkah city at cost of SR389 million and staff quarters in Makkah and Dammam for SR113.73 million and SR98.1 million, respectively.

These projects are expected to be completed within the next three years, said the company.


J&P hit by workers’ strike

Cypriot engineering group Joannou & Paraskevaides (J&P) is facing a serious crisis with workers striking at the company’s construction sites in Saudi Arabia over pending salaries since February, said a report, citing sources.

The company operates some 15 construction sites in the country for projects worth $2.2 billion.

The staff had warned the company, J&P Overseas, that they would not return to work after the Eid Al Fitr holidays last month, unless a written commitment was given by the board on the outstanding pay and the timeframe for disbursing it, reported the Cyprus Mail.

The company till date owes its workers, including 100 Cypriots, nearly SR80 million ($21.3 million).

Most of the 5,500 staff have not been paid since February, although for some it has been longer than six months. Saudi nationals working for the company were paid up until April.  

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