Eversendai secures projects worth RM490.1m in Morocco, Qatar, Saudi Arabia

KUALA LUMPUR (March 11): Eversendai Corp Bhd has secured RM490.1 million worth of projects in Morocco, Qatar and Saudi Arabia.

In a statement today, Eversendai said its outstanding construction order book stands at a near all-time high of RM2.69 billion.

It said the newly secured contracts include a 55-storey luxurious commercial tower project in Morocco.

The group said it secured two commercial towers in Qatar, which is expected to benefit from investments made in preparation for the 2022 FIFA World Cup and Qatar National Vision 2030.

Eversendai added it won a facility control centre and an administrative building project for a well-known metro station in Saudi Arabia as the country’s economy appears to be the most active player in the Middle East construction sector.

Eversendai executive chairman Tan Sri AK Nathan said the entry of the group into North Africa is a testament of sustaining its fundamental values and capitalising on long-established client relationships in delivering projects.

“We remain optimistic in the regions where we operate with many new opportunities in the pipeline.

"Our world class expertise and our reputation as a world leader in the structural steel business with an excellent track record, has enabled us to take on opportunities to further bolster our business and bring to life the works of engineering marvels,” he said.

At the midday break, Eversendai shares were 1.89% or half a sen higher at 27 sen, bringing its market capitalisation to RM210.89 million.

Click here to look at industrial property for sale in Kuala Lumpur.

Click here for more property stories.