L&T inks JV with Saudi firm
Indian construction conglomerate Larsen & Toubro has signed a joint venture agreement with Saudi Arabia's A A Turki Contracting and Trading Corporation, which will focus on electromechanical construction for the hydrocarbon and power sector.
By PTI |
DUBAI: Indian construction conglomerate Larsen & Toubro has signed a joint venture agreement with Saudi Arabia's A A Turki Contracting and Trading Corporation, which will focus on electromechanical construction for the hydrocarbon and power sector.
The new venture will be known as Larsen & Toubro ATCO (Saudi) LLC.
Ziad Ali Al Turki, executive vice-president, ATCO, said the joint venture will enable the two companies to benefit significantly from the boom in the oil and gas and infrastructure fields.
L&T has completed many projects in Saudi Arabia. "Saudi Arabia is one of the biggest markets in the GCC, and as a part of its strategic plans, L&T has taken important steps in the region by establishing engineering and project management centres in Abu Dhabi and Sharjah," L&T said in a release here.
The new venture will be known as Larsen & Toubro ATCO (Saudi) LLC.
Ziad Ali Al Turki, executive vice-president, ATCO, said the joint venture will enable the two companies to benefit significantly from the boom in the oil and gas and infrastructure fields.
L&T has completed many projects in Saudi Arabia. "Saudi Arabia is one of the biggest markets in the GCC, and as a part of its strategic plans, L&T has taken important steps in the region by establishing engineering and project management centres in Abu Dhabi and Sharjah," L&T said in a release here.
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