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Last updated on April 18, 2014 at 1:21 EDT

Al Khobar Based Company WorleyParsons Arabia Ltd Reported Substantial Growth Figures Over a Five Year Period

December 28, 2012

DAMMAM, Saudi Arabia, December 28, 2012 /PRNewswire/ –

The company during this time was owned by Saudi businessman Fahad Al-Tamimi
[http://timcosa.com ],who reported growth of 4358 percent over a five year period. On
average the annual income was reported at SAR500,000 (approximately USD133 million); these
figures put WorleyParsons Arabia Ltd at the top of the 2010 list of ’100 Fastest Growing
Companies’, 2592 percent ahead of the second fastest growing company Fall Stop.

Companies listed on the fastest growing list are recognised not only for their
astonishing growth within the market, but also for their contribution to the social and
charitable causes. The companies who top this prestigious poll are noted for having given
priority to the business impact on society; providing jobs, strengthening the economy and
encouraging other businesses to operate to international standards. The ‘Fastest Growing
Business’ list also highlights a new generation of businesses who are creating employment
opportunities and helping to drive development and growth within Saudi Arabia. Under the
management of Fahad Al-Tamimi [http://www.tamimi-minerals.com/founder.html ], the founder
of TIMCO [http://www.tamimi-minerals.com ], WorleyParsons Arabia Ltd managed multiple high
profile companies as part of their portfolio, with contracts worth up to $5billion,
including the phosphate program for Ma’aden.

In 2003 WorleyParsons Arabia Ltd won a lucrative contract with Saudi Aramco, the
world’s largest crude oil manufacturers. This partnership was worth over $30 million
annually for WorleyParsons Arabia Ltd, as Saudi Aramco are the world’s largest supplier,
manufacturer, and distributer of crude oil; meeting the global demand for natural gas and
petroleum products.

WorleyParsons Arabia Ltd were contracted to provide engineering and management
services for their offshore oil and gas facilities based in Saudi Arabia.

In 2006 Saudi Arabian mining company Ma’aden contracted WorleyParsons Arabia Ltd to
provide engineering provisions and project management services for the development of the
Phosphate mine located in Al-Jalamid. This development project provided over 8,000
construction jobs, as well as ongoing employment opportunities upon completion. The
Al-Jalamid mine is the world’s largest producer of Diammonium Phosphate (DAP), with an
output of over 3 million tons per annum, 10 percent of all global DAP production.

This level of growth was of crucial to the Saudi economy at that time. The rapid
growth of WorleyParsons Arabia Ltd meant that employee demand was high, helping to avoid
any unemployment crisis in Al Khobar and the neighbouring cities.

Contact: Jonathan Hall, +966-383-33170

SOURCE TIMCO


Source: PR Newswire