Iktinos reaches supply deal with Binladin group

Iktinos, an Athens-based company involved in the mining and trade of marble and granite, has struck up an initial agreement to supply Saudi Arabian group Binladin with marble for two years. No financial details were disclosed. «The initial agreement relates to the supply of white marble for the maintenance and expansion of Mecca and Medina holy sites,» it said in a bourse filing. «With regard to the quantities to be supplied, Iktinos is committed to supply at least 30,000 square meters in the two-year period… with an option to increase this amount depending on the quarry’s production capabilities.» Shares in Iktinos jumped 5.63 percent on the Athens bourse yesterday to 0.75 euros, pushing its market capitalization to 21.4 million euros. The broader market retreated 2.32 percent.

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