Arabian Business Power 500 2013
Thu 21 Mar 2013 10:28 AM
Abdulaziz Fahad Barakat Al Hamwah
67

Abdulaziz Fahad Barakat Al Hamwah

Industry: Industry

Company: Modern Group

Designation: CEO

Country: Saudi Arabia

Al Hamwah is the CEO of the Saudi-based Modern Group, which
he co-owns with HRH Prince Turki Bin Abdulrahman Bin Abdulaziz Al Saud, the
chairman of the group. He is pulling the strings on a mega industrial
conglomerate with projects under its belt worth more than $3bn — a figure that
is growing fast by the day.

Sharp, smart and charismatic, Al Hamwah has turned the
company he co-started from scratch eight years ago into a world-class
operation, particularly in the mining services sector on which the Modern Group
has stolen a march.It is the first company in the kingdom to provide integrated
mining services, including the production of commercial explosives and drilling
and blasting services for the mining and construction sectors. Modern has
introduced best-in-class industry and proprietary practices to improve the
safety and cost of using commercial explosives in the Saudi mining sector. But
perhaps Al Hamwah’s neatest trick has been to sew up a host of international
partners, each bringing chunks of equity to the table. Joint ventures have been
signed up with the likes of a leading South American oil and gas giant, EPC
Groupe of France and a Japanese mining and steel conglomerate.