A deal has been reached between the Binladin Group and the owners of Marmi Carrara, for the acquisition by the Saudi company of 50% of what is one of the biggest marble quarrying concerns operating in the Apuan Alps above Carrara.
Walid Samaha, Binladin Group Construction Products Holding Company’s (CPC) chief operating officer will preside over the new venture. The Binladin CPC has recently invested in Chinese marble – the investments will allow the Saudi construction conglomerate to consolidate its strategic interest in the market. It is unclear how much marble will be extracted from the Carrara facilities – the end product will be primarily interior and exterior flooring, wall panels and interior decoration products.
The deal has been subject of much interest in the area.