Saudi Arabia's King Salman has sanctioned the Binladin Group on Tuesday for the collapse of a construction crane at Mecca's Grand Mosque which killed over 100 people days before the hajj pilgrimage.
An investigative committee concluded that the company "was in part responsible" for Friday's tragedy, which killed at least 107 people and injured almost 400 during a severe thunderstorm accompanied by violent winds.
Investigators found that the crane was allegedly "in a wrong position" when the high winds struck, as its main arm should have been lowered, the official Saudi Press Agency said.
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"The position of the crane was in violation of operating instructions prepared by the manufacturer," SPA said, adding there had been no response to several letters from concerned authorities about that crane and others.
The firm's executives have been forbidden from leaving the kingdom pending the completion of legal action, SPA said, adding that Salman ordered prosecutors to prepare an indictment.
Until the case is closed, the company will also be excluded from new public projects.
According to Saudi Binladin Group's website, the company has worked on numerous prominent projects in Saudi Arabia including Al-Faisaliah tower in central Riyadh, King Abdullah Financial District, universities and the King Abdul Aziz International Airport in Jeddah.
It has also developed airports and other projects in the Middle East and as far afield as Malaysia.
The construction firm belongs to the family of the late Al-Qaeda leader Osama bin Laden.
After visiting the scene on Saturday, Salman vowed that what had happened would become known.
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It was the worst accident in a decade surrounding the hajj, which begins next Tuesday and is expected to draw about two million faithful from around the world.
Saudis, Iranians, Nigerians, Malaysians, Indonesians and Indians were among the dead.