Saudi govt lifts project bidding ban on Binladin: Report

 05 May 2016 - 9:19

Saudi govt lifts project bidding ban on Binladin: Report
Logo of the Saudi BinLadin Group on their headquarters in Jeddah. AFP / MAHMOUD MAHMOUD

 

RIYADH: The government is allowing major builder Saudi Binladin Group to resume bidding for state projects, al-Watan newspaper reported on Thursday, in a decision
that may ease financial pressure on the troubled firm and banks which lend to it.

The company has been struggling since September last year, when it was suspended from obtaining new government contracts after a crane toppled into Mecca's Grand Mosque during a dust storm, killing 107 people.

It has now received a royal decree allowing it to bid for state contracts again, and a travel ban imposed on its top managers after the disaster has been lifted, al-Watan quoted an unnamed source as saying.

The newspaper also quoted a spokesman for the civil aviation authority as saying that in response, the company would resume work at the multi-billion dollar King Abdulaziz International Airport project in Jeddah.

Company and government officials could not be contacted for comment early on Thursday.

Reuters