Engie, a France-based company which provides low-carbon energy and service solutions, has set up a dedicated holding company in the Kingdom of Saudi Arabia, media reports said. The move by the company marks its expansion in the Kingdom. The company aims to bring all the Group’s assets in the Kingdom under one umbrella.
It is reported that the company has appointed Mr Turki Al Shehri as the CEO to operate the office and deliver the company’s global experience to the customers. The company has been successful in carrying out its expansion plan in the Kingdom amid setbacks and other problems due to the outbreak of the pandemic.
Engie aims to invest in assets worth $6.34 billion in the Kingdom within the next four years. Furthermore, the company has been a driving factor behind the development of the Kingdom’s cleantech energy, generation, energy efficiency and other green initiatives.
The company has secured nine fresh contracts in the past twelve months to carry out projects in the field of facilities management, seawater reverse osmosis plant including various energy projects through its partners in the Kingdom.
The Saudi Water Partnership Company (SWPC) has awarded Engie with projects such as the Yanbu-4 independent water producer (IWP) desalination plant which aims to supply 450,000 m3/day of desalinated seawater through clean energy. Other than that, Angie and its partners have also secured three other projects related to facilities management and five energy related projects in the Kingdom.
The pandemic has walloped global economies and the energy segment.