Technip and SaudConsult Form Engineering JV in Saudi Arabia

Technip (Paris) and SaudConsult (Riyadh) have signed a memorandum of understanding to set up an equally owned joint venture with the aim of developing a new engineering center at Al Khobar, Saudi Arabia. It will focus on front-end engineering design, detailed engineering, procurement and construction management services, serving Saudi Arabia's oil, gas, petrochemical and other industries. The new company is expected to begin operations by mid 2010 with about 500 employees, pending regulatory clearance and after completion of local incorporation...

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