Consolidated Contractors Company
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| Consolidated Contractors Company | |
|---|---|
| Type | Private |
| Founded | 1950 |
| Headquarters | Greece, Athens |
| Key people | Hasib Sabbagh, Chairman Said Khoury, President |
| Industry | Oil&Gas, Heavy Civil Engineering, Air, Water & Effluent Systems |
| Products | Construction , Engineering |
| Revenue | $4,190 Billion USD |
| 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. 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.
In a long standing feud between Munib Masri and Consolidated Contractors Company that resulted in Mr. Masri winning a $55 million judgment against two of CCC's companies, namely CCIC and CCOG, the British Court of Appeals, on April 4, 2008 has denied an appeal by CCC to avoid the appointment of a court appointed receiver to collect the judgment.
Mr. Masri's dispute with CCC is based on an agreement he had with CCC to collect 10% of oil revenues from an oil consession in Yemen. After the intial court ruling in favor of Mr. Masri, CCIC and CCOG refused to pay the judgment of $55 million. The ruling by the British high courts paves the way for monies from the oil concession that CCOG is collecting to go into an approved court appointed bank.
More information about the lawsuit can be found at http://www.bailii.org/ew/cases/EWCA/Civ/2008/303.html
