Commenting on the company's performance, Nicholas El-Khoury, President & CEO, Mohammad Al-Mojil Group said,
"Projects which are currently being executed by the Group exceed SAR4bn. This is due to the strong performance of MMG and the confidence of the industrial sector in the company. Against this backdrop we believe the year will see continued positive developments for our business from a financial and operational perspective."
The contract, which commenced in September 2007, involves general construction works on a new plant in Jubail, including civil, structural, electrical, instrumentation and piping.
Commenting on the contract, Mr. Fahad Al-Raqtan, Managing Director at Mohammad Al-Mojil Group, said, "The awarding of this contract underlines Saudi Kayan's trust in MMG to deliver the project on time and on budget, to the highest internationally accepted standards of quality and safety. We are looking forward to working closely with Saudi Kayan to ensure the success of this prestigious and highly technical project."
The contract win follows a number of other new projects that have been awarded to Mohammad Al-Mojil Group in the Kingdom so far in 2007.
Other projects won to date in 2007 include:
• An eighteen month contract with Saipem-SNC Lavalin, to provide a range of complex mechanical and piping works services at the Saudi Aramco Khurais Water Injection Pump Station in Uthmaniyah, Ain Dar, Hawiyah and Haradh
• An eight month contract with Foster Wheeler Energy to provide piping fabrication, steel erection and associated electrical and instrumentation works at the SHARQ 3rd expansion project in Jubail.
• A nine month contract with ABB Lummus Global to provide Site Preparation & Mechanical Shutdown works at Saudi Aramco's Jubail refinery.
• A twenty four month contract with Samsung Engineering Company, to provide General Construction works at the Saudi Arabian Mining Company (Ma'aden) in Raz Ar-Zawr.
"2007 is looking to be another successful year for Mohammad Al-Mojil Group as we continue to win a healthy proportion of the new petrochemical projects coming on-stream across the Kingdom. Our ability to offer our clients the successful delivery of projects to exacting technical specifications has recently been reinforced. We expect to increase the number of our employees to 24,000 by the end of the year. This makes Mohammad Al-Mojil Group one of the leading industrial construction companies in Saudi Arabia," added Nicholas El-Khoury.
The Samsung Engineering contract award in Raz Ar-Zawr follows Mohammad Al-Mojil Group's "Construction Partners of Samsung Engineering for the year 2007", where MMG received Samsung's commendation for achieving 5 million safe man hours.