Shoaibi, Axens in manufacturing plant JV
Paris, July 5, 2011
Saudi-based Shoaibi Group said its subsidiary General Technology & Systems Company (Gentas) has entered into a joint venture agreement with Axens to build a hitech hydroprocessing catalyst production plant in the Kingdom.
Axens is an international provider of advanced technologies, catalysts, adsorbent and services based in Paris, with a global reputation for basic engineering design excellence.
The main scope of Axens’ business is focused on the conversion of oil, coal, natural gas and biomass to clean fuels as well as production and purification of major petrochemical intermediates.
On its manufacturing JV with Axens, the Al Khobar-headquartered company said the manufacturing plant will be designed to produce latest generation catalysts to satisfy customer needs for the production of clean fuels that meet the most stringent environmental specifications.
Gentas is a member of the Shoaibi Group undertaking joint ventures with its partner Saudi Trading and Research Company (Starc).
Gentas' objectives are to pursue opportunities in the oil and gas and petrochemicals products and services sectors in Saudi Arabia.
This plant will serve the local market but will also support the global supply chain of Axens in the field of hydroprocessing catalysts, said a top official.
'We are excited to invest in a region with one of the highest growths in refining and petrochemicals capacities and move closer to our clients in order to better serve them' - said Jean Sentenac chairman and CEO of Axens.
Khalid Suhayl Al Shoaibi, Gentas, chairman & CEO said, “We are extremely pleased in entering into this manufacturing joint venture with Axens, as it further re-instates our commitment to enhancing Saudi’s local content and its petrochemical, manufacturing capabilities.'
By pooling resources, the Shoaibi and Starc are able to provide foreign partners with unparalleled local market support and market intelligence, he noted.
This partnership has proven extremely effective with joint ventures such as Tenaris, Topaz, Techint, Subtech, and others, he added.-TradeArabia News Service