SEGI signs landmark deal with Dutch firm |
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JEDDAH: The Dammam-based Saudi Engineering Group International (SEGI)Saudi Engineering Group International (SEGI)
yesterday signed a landmark agreement with the Netherlands' leading technical specialist, Inventheon Technology Process (ITP), in a strategic move to strengthen its position in the region as a major multidisciplinary engineering support service provider."The accord will help the two companies conclude a joint venture agreement with the intent of providing engineering excellence beyond borders," Abdullah Al-Saihati, chairman of Saihati Group of Companies, told Arab News.
"Our goal is not just providing engineering support services but achieving excellence in the field. We always aim to be number one," Al-Saihati said. "Engineering excellence beyond borders is possible through a very promising cooperation agreement like this one."
SEGISEGI with its vast experience in the Kingdom's engineering sector reached the agreement with Inventheon, which is known for its specialized technical services to the petrochemical and oil & gas sector in Europe, in order to meet the growing requirements of Saudi Arabia. "SEGISEGI and Inventheon will be a name to lookout in the petrochemical and oil & gas sectors within a few months," Al-Saihati said.
Alex Enthoven, managing director of ITP, was equally bullish about the accord. "The engineering sector requires more and more specialist capabilities in applied technologies, which mostly come from Europe." He underscored the growing investment opportunities in Saudi Arabia being the world's largest oil producer and exporter.
"This is another milestone for SEGISEGI," said SEGISEGI's Managing Director, Rafeek Younus, who recently visited the Netherlands to hold preparatory talks to reach the accord. "Under the consortium agreement, SEGISEGI will also provide experienced design engineers to the European IT-related engineering sector," he said.
The signing of the agreement coincides with the visit of a Dutch trade mission to the Kingdom under the leadership of Economic Minister Maria van der Hoeven. The Dutch minister and Al-Saihati attended the signing ceremony in Dammam.
By P.K. Abdul Ghafour
© Arab News 2008
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