Netherlands-based OCI Construction Group said on Tuesday it has concluded negotiations for the awarding of infrastructure contracts in Saudi Arabia worth a combined value of $420m.
"The projects will be executed at several locations in Saudi Arabia, where the Construction Group is currently executing approximately $790m worth of work, excluding these new contracts," it said.
OCI Construction Group chief operating officer, Osama Bishai, said: “These contracts reflect the OCI Construction Group’s on-going commitment to expand our Saudi Arabian operations.
"We are well positioned to continue to grow our Saudi Arabian backlog by capitalising on our strong track record in executing large-scale infrastructure projects in Saudi Arabia.”
OCI expects to formally sign the contracts in the coming weeks, it added.