MAKKAH — There are four solutions to the crisis facing the Binladin Group, and the most important among them is declaring bankruptcy, according to a report on the CNBC Arabic channel. Other proposed solutions are: The acquisition of a 60 percent stake by the government, the sale of real estate projects that are under various phases of implementation, and dispensing with contracts that the company has already won. Binladin is currently implementing massive projects worth a total of SR220 billion and is qualified to secure 15 projects valued at SR140 billion within the Kingdom and abroad. The company's dues and loans are expected to reach SR4.8 billion and SR25 billion respectively in 2017, the report pointed out. Meanwhile, Saudi and expatriate workers of the company are decrying the long delays in their monthly salaries which have continued for more than five months. Eng. Ahmed said that he has worked for the Binladin Group for six years, and that he has not received his salary for many months. Ahmed said that he has not received any instructions whether to quit the company or stay or any clear information about his dues. A number of Saudis went to the labor court to file a complaint against the company. There they reached a deal jointly signed by representatives from the Labor Ministry, the police and the company which stated that the employees should remain at home until they get their dues. The agreement also said that the employees can return to work after they get their dues. That was in November, 2015. But many of the employees insisted on being at the workplace because of rumors that anyone who stays home will be fired. Reda, a supervisor from the Indian subcontinent, said he has been working in the company for four years and has been regularly receiving his monthly salary of SR4,000. "Things changed after last year's Haj season. I have not received any payment since December 2015. Those who are paid less than SR4,000 have not received any salaries since January 2016," he told Saudi Gazette. Reda said the Saudis, who are more than 17,000, received their last monthly salaries in February. He said every month he had to transfer home a sum of SR700 for the family to pay their house rent. "Now my wife's relatives send me money to be able to live in the Kingdom," he said. Reda said some of the administrators in the company informed him that the labor office in Makkah has opened the door for the renewal of imams (residence permits) at the expense of the employee. Reda said they also told him that starting late May there would not be any service termination or iqama transfer. The administrators told him that those who would not accept to transfer their iqamas at their own expense would have to resign and in this case would lose all their end of service benefits.
