Saudi Arabia's Ministry of Labor confirmed in a statement on its official account in Twitter that it was working to transfer 600 Saudis in Saudi Oger to other facilities.
At the same time, employees at Saudi Oger and sources close to it announced that the company had decided to lay off its employees and close its doors at the end of June. AFP reported.
The company did not succeed in spite of its relentless attempts to save from stumbling after it revealed in November that it reached a preliminary agreement to sell its 20% stake in Jordan Arab Bank for $ 1.1 billion, in favor of Fawaz Al Hokair Group.
The sources said the sale would help Saudi Oger to repay part of its debt.
In October 2016, Saudi Oger started talks to sell a stake in a Dubai-based telecoms provider after defaulting on a $ 4.750 billion loan, the Bloomberg news agency quoted sources as saying.
The Saudi Oger company sold Saudi Arabia after the problem of the delay of some construction companies in Saudi Arabia to pay the salaries of its employees, where the workers, "Saudi Oger," organized many demonstrations demanding payment of their dues.
And the Saudi Oger, owned by the family of former Lebanese Prime Minister Saad Hariri, is one of two giant contracting companies that have been mandated to implement major development plans, develop the Kingdom's infrastructure and build various facilities from defense facilities to schools and hospitals.