Saudi Arabia: Saudi contractor Khodari to suffer multi-million loss after passing up state contract
Saudi Arabian contractor Abdullah Abdul Mohsin al-Khodari and Sons has said it will book a multi-million riyal loss after it received state permission to reallocate a government contract it won in 2014 to another company. Khodari, like many construction-related firms, has been pressured by a severe slowdown in the sector caused by cutbacks in state spending due to lower oil prices. Read more on: www.arabianbusiness.com
Source : Saudi Arabia: Saudi contractor Khodari to suffer multi-million loss after passing up state contract