Al Khodari says energy price hikes will raise its costs

RIYADH — Saudi Arabia's Abdullah Abdul Mohsin Al-Khodari and Sons on Sunday forecast changes to the kingdom's electricity and energy prices would raise its costs by SR44.3 million ($11.81 million) between 2016 and 2020. The builder is the latest Riyadh-listed company to reveal the likely impact of higher prices on its operations. Khodari forecast its operational costs would increase by SR22.1 million in 2016, SR12.4 million in 2017, SR8.5 million in 2018 and by less than SR1 million in both 2019 and 2020, according to a bourse statement. The company’s activities spans civil engineering, roads, bridges and railways, buildings and infrastructure, water & waste water treatment, oil & gas and pipelines in support of petrochemical production, city cleaning and environment , land transportation and operation & maintenance. — Reuters