PARIS -- Technip and SaudConsult have agreed to set up a 50/50 joint venture company aimed at developing a new engineering center in Saudi Arabia.
The planned Engineering Center of Excellence will be located in Al Khobar, Saudi Arabia and will focus on front-end engineering design (FEED), detailed engineering, procurement, and construction management (EPCM) services serving Saudi Arabia’s oil, gas, petrochemical, and other industries.
“Our partnership will give us the opportunity to develop a world-class engineering center in Saudi Arabia, with a strong local content and a high international profile,” says Thierry Pilenko, Technip’s chairman and CEO. “This move is in line with our Group’s strategy to increase proximity to the Middle East market through the development of local operating centers.”
The new company is expected to begin operations by mid 2010 with about 500 employees.
Technip, SaudConsult to open Saudi engineering center
Technip and SaudConsult have agreed to set up a 50/50 joint venture company aimed at developing a new engineering center in Saudi Arabia.