Saudi Rich List
Wed 26 Aug 2009 07:24 AM
Ibrahim Hamad Al Babtain
40

Ibrahim Hamad Al Babtain

Industry: Construction & Industry

Company: Al Babtain Power and Telecommunication Company - Saudi Arabia

Country: Saudi Arabia

Wealth: 800 Million

Founded in 1955,
Al Babtain Power & Telecommunication Co

is one of the largest engineering and manufacturing concerns in the Kingdom, producing steel, electrical distribution and lighting poles, high masts, stadium masts and monopoles. The company also operates high voltage transmission and communication towers, steel structure plants, tower testing stations and four galvanising plants, in both Saudi and Egypt.

The company went public at the end of 2006 and today boasts a market cap of more than $420m — although it has taken a hit in recent months, leaving shares down almost 10 percent year-to-date.