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Alfanar, Daewoo to set up JV for Saudi energy projects

RIYADH, January 31, 2023

Alfanar Construction, a leading EPC (engineering, procurement, and construction) contractor in Saudi Arabia, said it has signed an agreement with Korean group Daewoo Engineering and Construction to explore opportunities for joint collaboration in the construction of ‎oil, gas and petrochemical projects across the kingdom.
 
The deal was inked by Alfanar Executive Vice President Amer Al Ajmi and Daewoo E&C Senior Vice President Sungmin Yang on the opening day (January 30) of iktva2023 Forum & Exhibition being held at Dhahran Expo Center.
 
To be held until February 2, the In-Kingdom Total Value Add (IKTVA) programme will see participants visit designated exhibition pavilions for enablers, digital, sustainability, industrial and manufacturing, as well as investment workshops and various panel discussions. 
 
This year's edition is being held under the theme 'Accelerating Future Success,' which aims to strengthen companies' readiness and resilience for tackling the upcoming calendar year by forging their collective localization efforts in different focus areas, such as sustainability, digital, industrial, manufacturing. 
 
Alfanar said as a leading Saudi company, it continues to contribute heavily towards developing local content and achieving sustainability in the energy sector. 
 
Through this agreement, the duo will work on transferring and localising expertise in the engineering construction field and exchange the expertise of advanced technologies used in design, procurement, and project execution, it added.-TradeArabia News Service 



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