Citec has recently established a company in Saudi Arabia, where Citec Oy Ab is the majority shareholder. In practice, Citec Oy Ab and Alrabiah Consulting Engineering have formed a joint venture company.
The company’s legal name is Citec Oy Ab Saudi & Partner Consulting Engineering Company, and the company will be marketed by the name Citec Saudi. Citec Saudi’s head office is in Dammam.
Citec and Alrabiah Consulting Engineers have earlier experience from cooperation, as the parties signed agreement of association already in the spring of 2011. During the years, Citec has designed and delivered a number of projects under the previous agreement. Now it was time to move the collaboration and the strategic growth intent to the next level. The engineering market in Saudi Arabia is huge and some segments are growing despite of the low oil barrel price and general economy slowdown. Citec’s primary customer segments are energy, including oil & gas. In addition to this, there are great investment plans concerning wind, solar, railway, mining etc. Citec Saudi opens access to all Citec Group companies in order to sell and deliver the complete service portfolio. “Citec Saudi is an important enabler and tool for the roll-out of Citec Group’s strategy on the international market, marketing and selling the Citec Group service portfolio in a key geographical area, and this gives us completely new business opportunities”, says Sakari Koivuniemi, Director, Oil & Gas industry area.
The agreement was signed on January 26, 2016 in Dammam, Saudi Arabia. For more information on the Saudi operations, kindly contact Sakari Koivuniemi, mobile: +358 40 593 6989, email: sakari.koivuniemi@citec.com
