Consolidated Contractors Company: Difference between revisions
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products = [[Construction]] , [[Engineering]]| |
products = [[Construction]] , [[Engineering]]| |
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homepage = http://www.ccc.gr }} |
homepage = http://www.ccc.gr }} |
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TWO of the Arab world’s richest businessmen have run into more than a spot of legal bother. Before Christmas a High Court judge slapped a freezing order on interests in a Yemeni oilfield owned by companies controlled by Consolidated Contractors Company, a goliath in engineering and construction in the Middle East. |
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CCC is controlled by Said Khoury and Hasib Sabbagh, recently ranked the 12th and 16th richest Arab busi-nessmen and collectively worth a cool $10 billion. CCC does much business from London and is well connected – it has projects with BG Group and Centrica and counts former transport secretary Stephen Byers as a director of one of its UK subsidiaries. |
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The case has been grinding on for years and centres on a claim by Palestinian businessman Munib Masri he is owed $55m by CCC for his 10% cut of revenues from the Yemeni field. |
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But CCC, with revenues of $3.1 billion in 2006, and its minted founders are refusing to pay up. Masri won his breach-of-contract claim last October, and the court got tough by demanding that two CCC-controlled companies provide details of all assets worth more than $100,000 by February 25. If not, its directors, including Khoury and his two sons, but not Byers, could face jail for contempt of court. |
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You might think this to be the killer blow, but the two companies are registered in Lebanon and are beyond the reach of English courts. Look forward to yet more legal shenanigans. |
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'''Consolidated Contractors Company''' ('''CCC''') ([[Arabic]]: شركة اتحاد المقاولين), origins go back to 1943 when [[Hasib Sabbagh]] with four other contractors established the Consolidated Contractors Company (CCC) in [[Haifa]]. Sabbagh left [[Palestine]] in April 1948 and moved to [[Lebanon]]. In 1950, three talented young entrepreneurs, the late [[Kamel Abdul-Rahman]], Hasib Sabbagh, and [[Said Khoury]], joined forces to re-create Consolidated Contractors Company (CCC) which became later the region's largest multinational and one of the largest contractors worldwide. Two of the founding members are presently leading the Group, Hasib Sabbagh as [[Chairman]] and [[Said Khoury]] as President. The letters CCC represented a little more than the partnership of three ambitious young men. Today these initials embrace the ambitions and welfare of approximately 140,000 employed, composed of more than 60 nationalities, in almost every country of the Middle East & Africa. At the end of 2006, CCC’s total revenues were in excess of U.S. $4.19 billion dollars. The construction activities of CCC extending over most of the [[Middle East]], cover fields in: |
'''Consolidated Contractors Company''' ('''CCC''') ([[Arabic]]: شركة اتحاد المقاولين), origins go back to 1943 when [[Hasib Sabbagh]] with four other contractors established the Consolidated Contractors Company (CCC) in [[Haifa]]. Sabbagh left [[Palestine]] in April 1948 and moved to [[Lebanon]]. In 1950, three talented young entrepreneurs, the late [[Kamel Abdul-Rahman]], Hasib Sabbagh, and [[Said Khoury]], joined forces to re-create Consolidated Contractors Company (CCC) which became later the region's largest multinational and one of the largest contractors worldwide. Two of the founding members are presently leading the Group, Hasib Sabbagh as [[Chairman]] and [[Said Khoury]] as President. The letters CCC represented a little more than the partnership of three ambitious young men. Today these initials embrace the ambitions and welfare of approximately 140,000 employed, composed of more than 60 nationalities, in almost every country of the Middle East & Africa. At the end of 2006, CCC’s total revenues were in excess of U.S. $4.19 billion dollars. The construction activities of CCC extending over most of the [[Middle East]], cover fields in: |
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Revision as of 22:49, 16 February 2008
| Company type | Private |
|---|---|
| Industry | Oil&Gas, Heavy Civil Engineering, Air, Water & Effluent Systems |
| Founded | 1950 |
| Headquarters | Greece, Athens |
Key people | Hasib Sabbagh, Chairman Said Khoury, President |
| Products | Construction , Engineering |
| Revenue | $4,190 Billion USD |
Number of employees | ~ 100,000 |
| Website | http://www.ccc.gr |
Consolidated Contractors Company (CCC) (Arabic: شركة اتحاد المقاولين), origins go back to 1943 when Hasib Sabbagh with four other contractors established the Consolidated Contractors Company (CCC) in Haifa. Sabbagh left Palestine in April 1948 and moved to Lebanon. In 1950, three talented young entrepreneurs, the late Kamel Abdul-Rahman, Hasib Sabbagh, and Said Khoury, joined forces to re-create Consolidated Contractors Company (CCC) which became later the region's largest multinational and one of the largest contractors worldwide. Two of the founding members are presently leading the Group, Hasib Sabbagh as Chairman and Said Khoury as President. The letters CCC represented a little more than the partnership of three ambitious young men. Today these initials embrace the ambitions and welfare of approximately 140,000 employed, composed of more than 60 nationalities, in almost every country of the Middle East & Africa. At the end of 2006, CCC’s total revenues were in excess of U.S. $4.19 billion dollars. The construction activities of CCC extending over most of the Middle East, cover fields in:
- Heavy Civil Construction: power plants, bridges and highway interchanges, harbor and docks, and civil work for process plants and the petrochemical industry.
- Highways, roads and airports.
- Water and Sewage treatment plants, pumping stations and all related networks.
- Mechanical Construction: fabrication and installation of piping, erection of equipment and vessels, structural steel works for light industry and heavy mechanical works (refineries, petrochemical plants, gas oil separation plants, oil loading and off loading terminals).
- Pipelines for water, gas and oil,
- High Quality Buildings.
- Oil and Gas EPC contracts.