Saudi Binladin Group buys 50% stake in Marmi di Carrara

August 7, 2014 9:44 am

A unit of Saudi Binladin Group (SBG) has bought a 50% stake in Italian marble manufacturer Marmi di Carrara in a deal worth $61m, Arabian Business reported. SBG’s Saudi Marble & Granite Factory Company already has close ties with the Tuscan firm, having bought around a fifth of the company’s output last year. Among the projects that Saudi Marble & Granite has worked on include ministry buildings and palaces in Saudi Arabia, as well as Dubai International Airport, Abu Dhabi International Airport and New Delhi Airport. According to the company’s website, Saudi Marble & Granite already produces 100,000 cubic metres of marble and granite from 14 quarries across the kingdom. It established two new agencies, in Germany and Turkey, last year to help expand its exports.