France’s ENGIE plans additional $6.34bn investment in Saudi by 2025 – MEP MiddleEast

France’s ENGIE plans additional $6.34bn investment in Saudi by 2025 – MEP MiddleEast

France-headquartered leading low-carbon energy and service solution provider, ENGIE, has managed to keep its Saudi Arabia expansion plans on track, building its asset and project value to more than $8bn, with plans to invest in assets worth an additional $6.34bn in the kingdom by 2025, despite delays and potential setbacks that the world has experienced as a result of the COVID-19 pandemic.

ENGIE expanded its presence in Saudi Arabia in 2019 by establishing a dedicated holding company to bring all the Group's assets in the kingdom under one umbrella. The firm also appointed Turki Al Shehri as its chief executive officer to manage the local office and bring ENGIE's global experience closer to its customers.

The firm is also a major player in the development of Saudi Arabia's renewable energy, co-generation, energy efficiency, and other green initiatives.

Over the past 12 months, ENGIE secured nine new contracts for projects in facilities management, a seawater reverse osmosis plant, and projects for the provision of energy services through its service providers and in partnership with Saudi actors.

In February, ENGIE was awarded the Yanbu-4 independent water producer (IWP) desalination plant by the Saudi Water Partnership Company (SWPC), projected to supply 450,000m3/day of desalinated seawater