KUALA LUMPUR, Aug 16 — Eversendai Group announced that its subsidiaries in Saudi Arabia and India have secured new projects worth RM188 million for structural steel works.
In a filing with Bursa Malaysia, it said Saudi Arabia’s construction market is showing massive growth this year and beyond with lucrative projects.
“It is based on a vital society, a thriving economy and an ambitious nation. Diversifying the kingdom’s economy is vital for its sustainability in line with the ‘Saudi Vision 2030’, the vision of the Saudi Crown Prince and Prime Minister Mohammed Salman,” it said.
Eversendai said it is optimistic and has stepped up efforts to strengthen its footing to secure more projects. These structural steel projects are highly complex befitting the group’s technical capabilities and colourful landmark track record in executing projects in 18 countries while adhering to safety, quality and timely completion.
“We are in the process of finalising a local partner to spearhead Eversendai’s expansion and growth in Saudi Arabia.
“We are also in the process of establishing a 60,000-tonne annual fabrication capacity factory near Riyadh to support the huge structural steel requirement,” said Tan Sri A.K. Nathan, group managing director of Eversendai Corporation Bhd.
At lunch break, Eversendai shares were flat at 13.5 sen with 401,000 shares changing hands.
— Bernama
