Nesma & Partners is another Saudi contractor that looks set to continue its recent growth as a result of securing work on the Riyadh Metro. The company is part of a consortium that will deliver a $6bn contract for line three of the project, which at 40.7km is the longest single line.
The award was a sign of the continued progress that has been made at Al Khobar-based Nesma & Partners in recent years, where turnover has increased from $533mn in 2008 to $2.3bn last year.
Nesma & Partners is partly owned by Nesma Holding – the Jeddah-based group run by Sheikh Saleh Al Turki – alongside investment company Khalid Ali Alturki & Sons and Atheeb Holding.
In the Eastern Province, it has carried out work as a subcontractor to EPC firms building units on mega-projects like Total’s Satorp refinery and the $19bn Sadara chemical complex at Jubail Industrial City II.
And in the first half of this year, it has landed three contracts worth a combined $2.6bn. The biggest of these has been a $2.3bn (SR8.5bn) project to deliver five specialist hospitals in Riyadh, Jeddah, Al Taif and Al Qassim for the Kingdom’s National Guard Health Affairs department. It has also set up an EPC company – a joint venture with Argentinian firm Tecna – to bid for oil & gas projects. Gholmieh said: “The Saudi market is full of opportunities.”
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