Riyadh – Mubasher: Abdullah Abdul Mohsen Al-Khodari Sons Company has signed an agreement with Abdullah Fouad Holding Co to conduct an auction for its equipment surplus.
The step comes within the company’s plan to upgrade its plant and equipment, according to a bourse filing on Thursday.
It is expected that the auction will have a positive impact on Al-Khodari’s second quarter results for 2017, the company stated.
The auction will be held between 16 to 18 May at Al-Khodari Yard, Dammam.
Al-Khodari will announce the results of the auction upon its completion.
In November, the Saudi-listed firm signed four contracts worth SAR 50.87 million ($13.6 million) to sell equipment and water tanks.
