Riyadh – Mubasher: Saudi authorities are in negotiations with Saudi Oger Company to resolve its several month-long crisis to restructure its piled debts, according to Saudi local newspaper Al Hayat.
Saudi Oger had entered into negotiations with trading parties to sell 60% of its shares.
The Saudi labour ministry asserted that the crisis of foreign labour has ended in Saudi Oger in Jeddah. The company has around 5,000 foreign labourers, of which 2,500 are Indian workers.
The head of recruitment in Makkah, Abdullah al-Alian, stated that the Saudi minister of labour ordered finalising exit visa procedures for the Indian workers wishing to leave Saudi, and to send those who wish to stay to another company.
Saudi Oger owns SAR 5.6 billion in fixed assets, while its financial commitments reached SAR 15 billion including late wages, due loans for local and international banks in Saudi, terminal bonuses and others.
