Milestones

Huta Hegerfeld starts its first project in the Kingdom, with the construction of the sanitary sewer system in Jeddah

Opening of Huta Hegerfeld’s branch in Riyadh

As one of very few foreign companies, Huta Hegerfeld receives a permanent operating license from the Ministry of Industry and Commerce

Huta Hegerfeld is transformed into Huta Hegerfeld Saudia

HUTA SETE is incorporated as a JV between Huta Hegerfeld and SETE (ex Petrola) focusing on the execution of marine projects

SETE’s shares in HUTA SETE are acquired by Huta Marine Works Ltd.

Huta Marine paid up capital is increased to SR 130,000,000

Incorporation of Huta Environmental Works Ltd, providing environmental engineering and other services

Huta Hegerfeld’s shareholders form Saudi Cranes Services, engaged in heavy lifting and crane rental services

Incorporation of Huta Foundation, engaged in foundation engineering works

Huta Marine commences construction of King Abdullah Port in Rabigh

Huta Marine holds a 50% stake (SR 2.6 bn) in the Ports Development Company, who own and develop King Abdullah Port

Huta Marine takes delivery of Al Bahar, one of the largest cutter suction dredgers worldwide, with 23,500 Kw of installed power

Huta Group Consolidated financial highlights (in 000 SR):
Contract revenues 2,600,000
Fixed assets 4,900,000
EBITDA 590,000
Employees 7,000