KUALA LUMPUR (Oct 12): Eversendai Corp Bhd said it has submitted active tenders for more than RM15 billion worth for structural steel projects in Saudi Arabia which are highly complex, befitting Eversendai's technical capabilities.

In a statement to the bourse on Thursday, the company said the projects in the pipeline, when awarded, will contribute positively to the group.

Eversendai said it has 27 years of presence in the Gulf and 24 years in Saudi Arabia, executing highly complex structures with connection design, engineering, fabrication and installation of high-profile projects using innovative erection methodology to complete projects.

The company said it has a 200,000-tonne annual fabrication capacity in Malaysia, Singapore, India, United Arab Emirates (UAE) and Qatar, and is now in the process of establishing a 60,000-tonne annual fabrication capacity factory near Riyadh, Saudi Arabia.

Due to the magnitude of the upcoming mega projects in Saudi Arabia and in order to secure and execute these mega projects, Eversendai has signed a memorandum of understanding (MOU) with Algihaz Holding Construction, an established firm in Saudi Arabia, to form a new joint venture company, the statement said.

At midday break on Thursday, Eversendai rose 3.57% or 0.5 sen to 14.5 sen, with 113,900 shares traded.