Eversendai Corp subsidiaries in Saudi Arabia and India have successfully secured new projects valued at approximately Rs 336 million for structural steel works.
The construction sector in Saudi Arabia has demonstrated remarkable growth this year, presenting numerous lucrative opportunities. The group noted that this growth is driven by a dynamic society, a thriving economy, and an ambitious national agenda.
Economic diversification is considered crucial to ensure the kingdom’s long-term sustainability in alignment with the ‘Saudi Vision 2030’ set forth by Crown Prince and Prime Minister Mohammed Salman. Eversendai highlighted these insights in a filing with Bursa Malaysia.
Eversendai remains positive about its prospects and is intensifying its efforts to enhance its position for the acquisition of additional projects. The structural steel projects that have been secured are intricate and demonstrate the group’s technical prowess. This accomplishment is in line with the group’s track record of executing projects in 18 countries while maintaining the highest standards of safety, quality, and timely completion.
Tan Sri A.K. Nathan, the Group Managing Director, expressed optimism and revealed that Eversendai is finalizing a local partner to lead its expansion and growth endeavours in Saudi Arabia. Additionally, the company has strategic plans to establish a factory with an annual fabrication capacity of 60,000 tonnes near Riyadh. This facility aims to cater to the substantial demand for structural steel in the region.