Red Sea International appoints Khalid Fagih as MD and CEO

• RSI banking on Khalid’s 26-year track record to catapult its operations by developing products and services, improving performance
• Company had won two contracts in the massive US$500-billion NEOM project in 2020

The Red Sea International (RSI), a leader in offsite modular production and assembly, has appointed industry veteran Khalid Mohammed Fagih as its new managing director and chief executive officer.

The appointment of Khalid, who has a 26-year track record in business management and corporate leadership transformation, comes at the juncture of RSI’s journey towards business restructuring, consolidation, and transformation, the company said in a statement.

The RSI looks to catapult its operations by developing its products and services, improving performance, reducing costs, adopting digitization, and closing low-performing assets. 

 Towards this end, the company looks to capitalize on Khalid’s extensive experience managing high-profile transactions with government and private sector companies, to foster tactical partnerships that can deliver significant value for the company.

 With these efforts, RSI intends to be future-ready and agile to cater to the projects emanating from the ambitious Vision 2030 of the Kingdom of Saudi Arabia, by providing modular construction, facility management, and real estate, asset management and rental services.

 In October 2020, RSI won three contracts in major projects. A US$59 million (SAR220 million) project was secured with The Red Sea Development Company (TRSDC). Two other contracts were secured in the US$500 billion (SAR1.9 trillion) NEOM project backed by the Kingdom’s Public Investment Fund (PIF).

 For the latter, the first contract is worth US$20.8 million (SAR78 million) covering engineering, procurement, and construction (EPC) works of the Neom Industrial City Base Camp, and the second contract is worth US$14.1 million (SAR53 million) pertaining to Facilities Management and Operations and Maintenance services.

 Headquartered in Riyadh, the Red Sea International Company is a horizontally and vertically integrated building technology, real estate and facility management company focused on mass volume and bespoke products.