Saudi’s Al Gihaz Holding acquires UK entity to deliver clean energy for KSA gigaproject

SourceMEP Middle East
SectorOil & Gas
CountrySaudi Arabia

Saudi Arabia-based Al Gihaz Contracting – which is part of Al Gihaz Holding – has acquired the assets, Intellectual Property, and 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 specialised 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 Saudi Vision 2030. The group vice chairman of Al Gihaz Holding, Sami Alangari, said; “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 locally and internationally. “We more...