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Chinese Firm Wins Saudi Contract
Friday, 11-Jul-2008 1:14AM United Press International
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BEIJING, July 11 (UPI) -- A Chinese construction company has won a $612 million contract from Saudi Arabia for expansion work at the kingdom's King Khalid University.

SAVE MONEY ON TRAVEL DEALS

The deal with Guangdong Overseas Construction Group Co. calls for the construction of 16 buildings and annexes at the Riyadh campus.

It was signed by Guangdong Chairman Ma Ruixin and Saudi Arabian Higher Education Minister Khalid Bin Mohammad al-Ankary, China's state-run Xinhua news agency reported.

Ma said the undertaking will help promote trade cooperation between the countries.

University President Abdullah al-Rashid said Ma's company was selected through a strict bidding process, the report said.

The contract, to be completed in 36 months, is the largest the Chinese company has won since the signing of a cooperation memorandum between the two countries in June 2007.

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