Khodari wins $170m Saudi deal

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Khodari wins $170m Saudi deal

Saudi Arabian builder Abdullah Abdul Mohsin Al-Khodari and Sons said last week that it had been awarded a $170 million contract from a unit of Saudi Arabian Mining Co.

The contract with Ma’aden Waad Al Shamal Phosphate Company was for a “Well Field Package”, Khodari said in a bourse filing without elaborating.

It did add a further announcement on the duration of the contract would be made once it was signed and that the financial impact from the award would begin in the first quarter of 2015.

Ma’aden’s Waad Al Shamal project is regarded as a key example of the kingdom’s attempts to diversify its economy away from oil and gas.

Situated in the far north of Saudi Arabia, the project will involve total investment of around $9 billion for a phosphate mine, several major processing facilities, smaller downstream factories and a residential area.

Source: Trade Arabia

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Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.