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Alstom SA sets up joint venture with Arabian Bemco Contracting Co Ltd


Monday, 2 Dec 2013 08:03am EST 

Alstom SA:Says it has signed an agreement with Arabian Bemco Contracting Co Ltd to create a joint venture (JV) company, Alstom Arabia Power Factory Ltd.Says the joint venture will establish a manufacturing facility in Saudi Arabia for power generation components, primarily heat recovery steam generators (HRSGs).Says the initial investment will be worth approximately 50 million euros.Says the joint venture will be a limited liability company incorporated under the laws of Saudi Arabia with a registered office in Jeddah. 

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27.215
0.375 +1.40%
11:35am EDT