Construction

Saudi’s Al Rajhi Building Solutions aims to double revenue to $2bn

By Gavin Davids

Posted on June 4, 2015

Chief executive Ahmed Al Bassam says group’s ‘Vision 2020’ plan will help it meet its objectives

PHOTO: Ahmed Al Bassam told Big Project ME that the ‘Vision 2020’ plan aims to change the mindset of the company. Credit: Supplied

Saudi Arabia’s Al Rajhi Building Solutions Group plans to refocus its strategy with the aim of doubling revenues to $2 billion by 2020, its chief executive said.

Ahmed Al Bassam told Big Project ME that the ‘Vision 2020’ plan aims to change the mindset of the company and ensure that it is prepared for the challenges facing the Saudi and GCC construction industries.

Part of this strategy includes a stronger presence in the Middle East, along with an expansion of services and products into Africa and Europe.

Al Bassam added that there would be continuous investment in Al Rajhi Building Solutions’ mega-manufacturing facilities in Saudi Arabia and the UAE, as part of the strategy.

The Al Rajhi Building Solutions Group is made up of nine independent companies covering both regional and international markets: Mada Gypsum, Mabani Steel, Precast Technologies (PreTech), Saudi Waterproofing (TechnoBit), Romeo Interiors, Unipods, CladTech International, El Sewedy Cables (a joint venture) and Electroputere, a Romanian international power provider.