Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Top Stories > COMO ARABIA ESTABLISHED TO PROVIDE LOGISTICS, SERVICES FOR MEGA PROJECTS

COMO ARABIA ESTABLISHED TO PROVIDE LOGISTICS, SERVICES FOR MEGA PROJECTS

Published by Gbaf News

Posted on April 30, 2014

3 min read

Last updated: January 22, 2026

COMO ARABIA ESTABLISHED TO PROVIDE LOGISTICS, SERVICES FOR MEGA PROJECTS - Top Stories news and analysis from Global Banking & Finance Review

Saudi Qudurat Holding for Development and Spanish COMO company recently entered into a joint venture agreement to form a new company called “COMO Arabia” specialized in supplying logistics and operational services for mega projects such as, but not limited to, railway, water, energy and generation, mining and offshore platform projects even in remote areas, in addition to other infrastructure projects in the GCC countries.

Qudurat Holding owns 51% of the new company while Spanish COMO gets 49% ownership, a joint statement said. Headquartered in Riyadh, “COMO Arabia” targets projects in the GCC countries valued at SR500 million in the first three years of its operation.

The agreement was signed by Qudurat Holding CEO Eng. Ibrahim Al-Asseri and COMO’s CEO Alejandro Alvarez on the sidelines of Airline Catering Exhibition held in Hamburg, Germany.

Qudurat Holding CEO Eng. Ibrahim Al-Asseri (Left ) and COMO’s CEO Alejandro Alvarez (Right) during the signing of agreement

Qudurat Holding CEO Eng. Ibrahim Al-Asseri (Left ) and COMO’s CEO Alejandro Alvarez (Right) during the signing of agreement

The joint statement also disclosed that the new company has won the logistics and operation of Al-Haramain Rail project in Makkah and Madinah – the first public means of transport with modern technology in Saudi Arabia. The SR6 billion ($1.5 billion) project awarded in 2009 is expected to partly go into operation by the start of next year.

Moreover, “COMO Arabia” aims to clinch the logistics and operation contract for the metro and public transport projects which the Kingdom had lately approved, in addition to opportunities available in the industrial complexes particularly in “Waad Al-Shamal” city which strategic projects were launched earlier this year.

COMO Arabia also anticipates participation in ambitious projects in the GCC countries especially in the UAE and Qatar as part of their preparations to host Expo 2020 and the 2022 World Cup, respectively.

Eng. Ibrahim Al-Asseri noted that Qudurat Holding is on the verge of a quantum leap in the type and size of its projects, especially in light of alliance with international companies that possesses the technical experience and financial capacity to achieve the aspirations of company’s shareholders.

“We’re really delighted to partner with COMO Spanish Company for the establishment of ‘COMO Arabia’. In its first phase, the new company will focus mainly on the GCC countries given the market enormity in the private sector, development of infrastructure projects and also in order to fulfill the local requirements. The company will later expand its scope of activities to cover the Middle East and North Africa countries,” Al-Asseri added.

COMO CEO Alejandro Alvarez expressed his happiness and gratitude to Qudurat Holding for selecting COMO to participate and contribute to the promising market in the Arab Gulf region. He confirmed that COMO had previously implemented major contracts in Europe, Asia and South America and that it currently seeks to geographically expand in order to start establishing successes in the Middle East and North Africa under the umbrella of “COMO Arabia” and with the effective participation of “Qudurat Holding.”