(MENAFN) Saudi Abdulla Fouad Group (AFG) announced it has signed a joint venture agreement with EnerMech, the International mechanical services group, to support EnerMech growth plan in the kingdom, Arab News reported.
AFG, which last month acquired Shoabi Group's oil and gas agencies, joint ventures and facilities, said that according to the new agreement, it will facilitate EnerMech's Saudi Arabian operations, which are based in Alkhobar, as well as provide essential technical support and marketing services
Headquartered in the UK EnerMech's Saudi Arabian operation provides crane, hydraulics, valves, process, pipelines and umbilical (PPU), lifting and inspection services, equipment rental and specialist training to the Saudi Arabian energy sector, with an annual profit of USD408 million in 2014 from its operations in 20 countries.
"We have been operating in Saudi Arabia for more than two years and our partnership with AFG is an important step forward in allowing us to utilize our full potential in this important energy region and give us access to a customer base and excellent opportunities," GM of EnerMech's Saudi Arabian operations said.
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