Al Gihaz Holding (KSA) Completes Investment in Enshore Subsea (UK)

SourceZawya
SectorEconomy
CountrySaudi Arabia

Riyadh, KSA: Al Gihaz Contracting, part of Al Gihaz Holding has today announced its acquisition of assets, Intellectual Property and the management systems of Enshore Subsea Ltd, a leading UK based subsea trenching company, providing seabed intervention services to mega-projects across industry around the world.The acquisition will see the creation of a new joint venture with the aim of forming a leading seabed intervention and construction management services provider. The joint venture will rely on the acquired specialized assets of the company, the skilled team and the company’s successful track record of completed projects to aid the Kingdom of Saudi Arabia’s drive to generating 58.7GW of clean energy by 2030 as part of the powerful Saudi Vision 2030.Sami Alangari, Group Vice Chairman, Al Gihaz Holding said of the deal; “With this acquisition, Enshore Subsea will benefit from the technical and financial expertise of Al Gihaz Contracting, which for many years has been a leading power and manufacturing services provider...read more...