Company: Abdullah A M Al-Khodari Sons Co
Fawwaz Al Khodari is CEO of Abdullah A M Al-Khodari Sons Co, which became Saudi’s biggest publicly quoted contractor following its IPO in 2010.
Its activities spread far and wide beyond construction into FM, MEP, haulage, travel and tourism, wholesale and retail operations, vehicle bodybuilding and repair, and more. Even so, some 94% of the company’s work has been connected to government contracts.
Revenues for the calendar year 2014 increased by 14% to $463m (SAR1.74bn). Net income increased by an impressive 57% to $26.9m (SAR101m), although this figure was flattered by the sale of used equipment at auction and other assets, amounting to $18.9m (SAR71m).
The company said last month that it expects the government to compensate it for some of the costs of ‘Saudisation’ labour reforms. It claims that it has become more expensive and difficult to hire large numbers of foreign workers.
Al-Khodari, which employs around 17,000 workers, has reportedly been hit disproportionately by a levy of $640 (SAR2,400) for every foreigner it employs above the number of Saudi workers.
Last month, Al-Khodari announced that it intends to enter the Egyptian market. The CEO said it was negotiating with various governmental authorities to participate in projects in the country’s commercial sector.