05 June 2011
3W Networks establishes Joint Venture company "3W Networks MMG" in Saudi Arabia. 3W Networks, the largest Telecoms and Security Systems Integrator operating in the Middle East, Africa and Asia Pacific regions is pleased to announce that it has signed a joint venture agreement with Mohammad Al-Mojil Group, a Saudi based Petrochemical and Construction giant listed on the Saudi Arabian Capital Market Authority, to invest in a joint venture company.
The new company, which is on a 50:50 basis is called 3W Networks MMG (3W-MMG). 3WMMG is headquartered in Dammam, Saudi Arabia and is dedicated to providing a full range of Communications, Safety and Security solutions to the growing Saudi market.
The Chairman of 3W-MMG is Mr. Ibrahim S. Al-Shuweir, (the current President of MMG group and the Vice Chairman is Mr Walid Gamali, the CEO of 3W Networks. Eng. Abdulrahman Al-Harbi has been appointed as the Executive Director responsible for the new company.
This joint venture will enable both the companies to access the complementary resources and capabilities of each other in order to bring high end communications and security solutions to the Saudi market faster, more efficiently and more reliably.
Saudi Arabia is one of the world's fastest growing economies. It possesses about 20% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and as such the efforts are focused on power generation, telecommunications, natural gas exploration, and petrochemical sectors.
3W Networks group views the Saudi Arabia as one of the most exciting and rapidly developing markets in the world and considers it a highly strategic market to set up operations. MMG is a large, well established company and is one of the preferred contractors with Aramco and other large Saudi conglomerates including Sabic and Maaden. Moreover, MMG has significant contacts with many of the international EPC's operating in Saudi Arabia. As such MMG's already existing strong relationships will be an added advantage for 3W Networks and help to further develop relationships with the existing customers and to further the client base.
3W Networks is well-positioned to become one of the key players in the fast-expanding telecommunications services market and is committed to its expansion into new markets and ensuring that its clients have access to high quality telecommunication solutions worldwide. 3W Networks has a global operating model with on-the-ground presence in the Middle East, Africa and Asia Pacific and this is a very important step in the company's strategy to have a presence in all the major Middle East markets.
Commenting on the joint venture with MMG, Walid Gamali, CEO, 3W Networks says, "Given the importance of Saudi Arabia to our overall growth strategy, it was essential that we partner with a well established local leader who could aptly support us and share in our commitment to serving our customers locally. We are very pleased to have partnered with the prestigious Mohamed Al-Mojil Group, a company well known for its reliability and quality of services to the Saudi construction and petrochemical sector. With this joint venture in Saudi, we further strengthen our position as the leading systems integrator in the region."
-Ends-
About 3W Networks:
3W Networks is the largest Telecoms and Security Systems Integrator operating in the Middle East, Africa and Asia Pacific regions. The focus of 3W Networks is to provide Integrated Communication Solutions to Oil & Gas, Power Utilities, Telecom Operators, Transport and Infrastructure sectors. The company is certified to ISO Quality standard 9001:2008, EMS 14001:2004 and OHSAS 18001:2007. 3W Networks operates across Middle East, Africa and Asia Pacific regions with dedicated offices in UAE (Dubai, Abu Dhabi), Oman, Qatar, Saudi Arabia, Egypt, Singapore, Korea and Australia. In addition to affiliate offices in over 15 countries worldwide.
About Mohammad Al-Mojil Group:
Mohammad Al Mojil Group is a Saudi based Petrochemical and construction giant listed on the Saudi Arabian Capital Market Authority. MMG delivers construction services to the Gulf region and covers civil, structural, mechanical, electrical, and instrumental and maintenance activities in the Oil, Gas and Petrochemical industries. Five decades of technical knowledge and continuous improvement, along with strict adherence to quality control and assurance practices, has positioned MMG with a flawless record on delivery of projects valued at over $10 billion.
3W Networks establishes Joint Venture company "3W Networks MMG" in Saudi Arabia. 3W Networks, the largest Telecoms and Security Systems Integrator operating in the Middle East, Africa and Asia Pacific regions is pleased to announce that it has signed a joint venture agreement with Mohammad Al-Mojil Group, a Saudi based Petrochemical and Construction giant listed on the Saudi Arabian Capital Market Authority, to invest in a joint venture company.
The new company, which is on a 50:50 basis is called 3W Networks MMG (3W-MMG). 3WMMG is headquartered in Dammam, Saudi Arabia and is dedicated to providing a full range of Communications, Safety and Security solutions to the growing Saudi market.
The Chairman of 3W-MMG is Mr. Ibrahim S. Al-Shuweir, (the current President of MMG group and the Vice Chairman is Mr Walid Gamali, the CEO of 3W Networks. Eng. Abdulrahman Al-Harbi has been appointed as the Executive Director responsible for the new company.
This joint venture will enable both the companies to access the complementary resources and capabilities of each other in order to bring high end communications and security solutions to the Saudi market faster, more efficiently and more reliably.
Saudi Arabia is one of the world's fastest growing economies. It possesses about 20% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and as such the efforts are focused on power generation, telecommunications, natural gas exploration, and petrochemical sectors.
3W Networks group views the Saudi Arabia as one of the most exciting and rapidly developing markets in the world and considers it a highly strategic market to set up operations. MMG is a large, well established company and is one of the preferred contractors with Aramco and other large Saudi conglomerates including Sabic and Maaden. Moreover, MMG has significant contacts with many of the international EPC's operating in Saudi Arabia. As such MMG's already existing strong relationships will be an added advantage for 3W Networks and help to further develop relationships with the existing customers and to further the client base.
3W Networks is well-positioned to become one of the key players in the fast-expanding telecommunications services market and is committed to its expansion into new markets and ensuring that its clients have access to high quality telecommunication solutions worldwide. 3W Networks has a global operating model with on-the-ground presence in the Middle East, Africa and Asia Pacific and this is a very important step in the company's strategy to have a presence in all the major Middle East markets.
Commenting on the joint venture with MMG, Walid Gamali, CEO, 3W Networks says, "Given the importance of Saudi Arabia to our overall growth strategy, it was essential that we partner with a well established local leader who could aptly support us and share in our commitment to serving our customers locally. We are very pleased to have partnered with the prestigious Mohamed Al-Mojil Group, a company well known for its reliability and quality of services to the Saudi construction and petrochemical sector. With this joint venture in Saudi, we further strengthen our position as the leading systems integrator in the region."
-Ends-
About 3W Networks:
3W Networks is the largest Telecoms and Security Systems Integrator operating in the Middle East, Africa and Asia Pacific regions. The focus of 3W Networks is to provide Integrated Communication Solutions to Oil & Gas, Power Utilities, Telecom Operators, Transport and Infrastructure sectors. The company is certified to ISO Quality standard 9001:2008, EMS 14001:2004 and OHSAS 18001:2007. 3W Networks operates across Middle East, Africa and Asia Pacific regions with dedicated offices in UAE (Dubai, Abu Dhabi), Oman, Qatar, Saudi Arabia, Egypt, Singapore, Korea and Australia. In addition to affiliate offices in over 15 countries worldwide.
About Mohammad Al-Mojil Group:
Mohammad Al Mojil Group is a Saudi based Petrochemical and construction giant listed on the Saudi Arabian Capital Market Authority. MMG delivers construction services to the Gulf region and covers civil, structural, mechanical, electrical, and instrumental and maintenance activities in the Oil, Gas and Petrochemical industries. Five decades of technical knowledge and continuous improvement, along with strict adherence to quality control and assurance practices, has positioned MMG with a flawless record on delivery of projects valued at over $10 billion.
© Press Release 2011
