November 20, 2008

Chinese construction firm bags Saudi contract

China Knowledge reported that China Guangdong Overseas Construction Group Company Limited, a state owned construction enterprise, has bagged a massive construction contract worth USD 612 million from Saudi Arabia's King Khalid University.

According to the report, the project covers construction of 16 buildings and their annexes having a covered area of about 550,000 square meters. As a part of the university's expansion program, this construction work is to be completed in 36 months.

Dr Abdullah al Rashid president of King Khalid University said that after a stick bidding process that Guangdong Overseas Construction Group has been chosen to fulfill the task. He was confident that the project would be completed successfully with joint efforts from both sides.

The report added Mr Ma Ruixin China Guangdong Overseas Construction Group Company as saying that the Overseas Group Company, with a staff of about 23,380, including more than 2,000 technical and management professionals in engineering and financial functions, will make full use of its abilities and advantages to complete the task within the committed period and hopes to boost economic cooperation between the two countries.