Saudi Arabian expansion for SNC-Lavalin
By Sarah Ann McCay30 July 2012
Canada's SNC-Lavalin's Saudi Arabian joint venture SNC-Lavalin Fayez Engineering (SLFE) has acquired the industrial division of Zuhair Fayez Partnership (ZFP), a local engineering consulting company.
Reports have valued the deal at US$ 40 million.
The acquisition of ZFP will boost SLFE's aim to bid for petroleum company Saudi Aramco's General Engineering Services Plus (GES+) contracts, which target the development of engineering capabilities in the Kingdom.
Under the GES+ initiative, SLFE can bid on contracts for on- and offshore oil and gas production and processing facilities, infrastructure projects, as well as refining and petrochemical facilities.
SLFE's team in Al-Khobar, Saudi Arabia, is already working on projects won through the GES+ initiative.