10/11/2009 00:00 AST
The Privatization Holding Company announced its partnership with SNC-Lavalin International - who is amongst the world leaders in engineering and construction. The partnership took effect with the inauguration of a new company in Kuwait on Sunday at the J W Marriot Hotel.
On this occasion, the Chairman of Privatization Holding Company, Riadh Edrees indicated that the inauguration of (SNC-Lavalin Kuwait) embodies the strong synergy between the two companies derived from their unique expertise in the engineering and construction field, and in developing, financing, constructing and operating projects in the energy, water, waste water, industrial and infrastructure sectors. "Privatization Holding Company is a Kuwaiti shareholding company listed at the Kuwait Stock Exchange wit
h a paid up capital of KD 79.3 million and investments valued at KD 120 million (2008)," he pointed out.
SNC-Lavlin has an expansion plan. "SNC-Lavlin Kuwait will, in addition to its oil and gas project work, undoubtedly, expand its activities to target the energy, water, waste water and infrastructure projects envisioned in Kuwaits five-year strategic plan," he added.
SNC-Lavalin Kuwait will be a key partner in privatization projects in Kuwait, the GCC and MENA through project development, financing, constructing, operating and maintaining BOT projects in the development sectors," noted Edrees.
The economic development is a very important field. "Through this company in Kuwait, SNC-Lavalin will actively participate in investment projects and in focusing on developing and executing infrastructure projects in Kuwait. This event ushers in a new era in its strategy to establish strong roots in Kuwait and be an active partner in its economic development," stated Riadh Ben Essa SVP and President (Construction) of SNC-Lavalin.
Ben Essa outlined that the company was keen to expand its project activity in Kuwait after it had established many such activities throughout the Middle East particularly in Saudi Arabia and the UAE.
The company has already completed a Gas Field project for KOC. "The company intends to compete in other upcoming such tenders in addition to electro-mechanical works for KOC, KNPC, MEW and MPW. The company will also focus in providing its expertise in executing infrastructure, power, water projects in addition to the Oil & Gas sector activities," Ben Essa further said.
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