We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 3 Aug 2014 11:27 AM

Font Size

- Aa +

Saudi Binladin Group unit buys Italian marble company

Saudi construction giant spends $61m on major supplier Marmi di Carrara

Saudi Binladin Group unit buys Italian marble company
(Image courtesy: www.marmidicarrara.com)

One of Saudi Arabia’s largest construction companies, Saudi Binladin Group (SBG), has announced that one of its divisions has bought a 50 percent stake in Italian marble manufacturer Marmi di Carrara in a deal worth $61 million.

SBG’s Saudi Marble & Granite Factory Company already has close ties with the Tuscan firm, having bought around a fifth of the company’s output last year.

Among the projects that Saudi Marble & Granite has worked on include ministry buildings and palaces in Saudi Arabia, as well as Dubai International Airport, Abu Dhabi International Airport and New Delhi Airport.

According to the company’s website, Saudi Marble & Granite already produces 100,000 cubic metres of marble and granite from 14 quarries across the kingdom. It established two new agencies, in Germany and Turkey, last year to help expand its exports.

Parent company SBG is most famous for having worked on some of Saudi Arabia’s most high-profile projects, including the expansion of the Holy Mosque in Makkah, the Al Faisaliyah Tower and King Abdullah Economic City.

Arabian Business: why we're going behind a paywall

For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.