Saudi Okaz newspaper reported on Thursday that the Saudi ministry of finance has resumed payments to Saudi Binladin Group (the kingdom’s biggest construction firm) for their work on government projects.
Saudi Binladin Group faced its hardest time last year. This was as a result of low oil prices forced by the government.
The SBG was also banded from receiving new state contracts. This was as a result of the tragedy that happened in the Grand Mosque (the cranes that toppled into Mosque) killing 107 people.
“With the series of payments to follow from the ministry of finance, the entire rights of 10,000 contractors, suppliers, traders that deal with SBG will be met” adviser Abdullah Basodan.
The firm is engaged in the expansion of the Grand Mosque and they’re also currently the leading builder.
Due to the hardness in business situations, the company had to lay of 77,000 foreign workers. It also plans on cutting thousands of jobs held by Saudi nationals.