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Arabtec, Samsung launch new JV to target MENA

30 September 2013 | 0 Comments

30 September 2013

Arabtec and South Korea’s Samsung Engineering have launched a joint venture to bid for large energy and infrastructure projects in the MENA region (Middle East and North Africa). 

The new venture, Arabtec-Samsung Engineering, will be 40% owned by each company with the remaining 20% share held by Tasameem Property Investment, Arabtec said.

Arabtec and Samsung first agreed on the venture in April to target the market for oil and gas, power and infrastructure in MENA, which they believe is worth up to $10bn.