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 at the J W Marriot Hotel.
Mr Riadh Edrees chairman of Privatization Holding Company indicated that the inauguration of embodies the strong synergy between the 2 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.
He said that "Privatization Holding Company is a Kuwaiti shareholding company listed at the Kuwait Stock Exchange with a paid up capital of KWD 79.3 million and investments valued at KWD 120 million."
He added that 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 and waste water and infrastructure projects envisioned in Kuwait's 5 year strategic plan. It 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.
Mr Riadh Ben Essa SVP and president of SNC Lavalin said that 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.
Mr 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.
He further said that 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 and water projects in addition to the Oil & Gas sector activities.
(Sourced from Kuwait Times)
