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Sat, 21 Nov 2009 | 07:03 GMT
 

Privatization Holding Co partners with SNC Lavlin

Kuwait Times
 
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10 November 2009
KUWAIT: The Privatization Holding CompanyPrivatization Holding CompanyLoading... announced its partnership with SNC-Lavalin International - who is amongst the world leaders in engineering and construction. The partnership took effect with the inauguration of a new company in Kuwait on Sunday at the J W Marriot Hotel.

On this occasion, the Chairman of Privatization Holding CompanyPrivatization Holding CompanyLoading..., Riadh Edrees indicated that the inauguration of (SNC-Lavalin Kuwait) embodies the strong synergy between the two companies derived from their unique expertise in the engineering and construction field, and in developing, financing, constructing and operating projects in the energy, water, waste water, industrial and infrastructure sectors. "Privatization Holding CompanyPrivatization Holding CompanyLoading... is a Kuwaiti shareholding company listed at the Kuwait Stock Exchange with a paid up capital of KD 79.3 million and investments valued at KD 120 million (2008)," he pointed out.

SNC-Lavlin has an expansion plan. "SNC-Lavlin Kuwait will, in addition to its oil and gas project work, undoubtedly, expand its activities to target the energy, water, waste water and infrastructure projects envisioned in Kuwait's five-year strategic plan," he added.

SNC-Lavalin Kuwait will be a key partner in privatization projects in Kuwait, the GCC and MENA through project development, financing, constructing, operating and maintaining BOT projects in the development sectors," noted Edrees.

The economic development is a very important field. "Through this company in Kuwait, SNC-Lavalin will actively participate in investment projects and in focusing on developing and executing infrastructure projects in Kuwait. This event ushers in a new era in its strategy to establish strong roots in Kuwait and be an active partner in its economic development," stated Riadh Ben Essa SVP and President(Construction) of SNC-Lavalin.

Ben Essa outlined that the company was keen to expand its project activity in Kuwait after it had established many such activities throughout the Middle East particularly in Saudi Arabia and the UAE.

The company has already completed a Gas Field project for KOCKOCLoading.... "The company intends to compete in other upcoming such tenders in addition to electro-mechanical works for KOCKOCLoading..., KNPC, MEW and MPW. The company will also focus in providing its expertise in executing infrastructure, power, water projects in addition to the Oil & Gas sector activities," Ben Essa further said.

SNC-Lavalin is amongst the largest engineering and construction companies in Canada and the world. "SNC-Lavalin plays an important role in the operation and maintenance of infrastructure projects and is among the companies listed on the Toronto Stock Exchange, noting that it will celebrate its 100th anniversary soon. The company is among the largest of such companies that have been awarded infrastructure concession projects in the MENA region, as the company has established in 120,000 cbm/day desalination plant in Myah Tipaza and a 1227 MW gas power plant in Hadjret El-Nouss, in Algeria," indicated Ben Essa.

The company is looking forward to investing in Kuwait, the GCC and MENA through its history of strong corporate governance, a flexible business model, a solid financial position, transparency of information, and a commitment to health and safety, to a sustainable environment, and the quality of work," he added.

SNC-Lavalin's worldwide project experience and multi-skilled workforce of nearly 22,000 employees allows for a strong participation and performance in each of the regional offices in over 35 countries. "SNC-Lavalin's vision for Kuwait is to build a solid EPC capability Centre of Excellence tapping upon the added ability of offering feasibility and front-end-engineering (FEED) studies in conjunction with experts from other SNC-Lavalin's Centers of Excellence worldwide," concluded Ben Essa.

By Nawara Fattahova

© Kuwait Times 2009

 
 
 
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