Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.


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.”