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Saudi firm wins contract in UAE with Korean company

Construction will start in February and run through December 2012.

January 3, 2011 12:31 by



Saudi Arabia’s Mohammad Al-Mojil Group signed on Monday a 197 million riyal contract ($52.5 million) with South Korea’s Hyundai Engineering and Construction Co  to build an engine oil factory in Abu Dhabi.

Construction will start in February and run through December 2012, according to a statement posted on the Saudi bourse website.

The project is the Saudi company’s first in the United Arab Emirates, the statement said.

(Writing by Mahmoud Habboush)



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