SNC-Lavalin and joint venture partners acquire engineering division in Saudi Arabia and commence Saudi Aramco GES+ contract
MONTREAL, July 26, 2012 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) is pleased to announce that SNC-Lavalin Fayez Engineering (SLFE), an engineering consultancy joint venture between SNC-Lavalin and its local partners, recently acquired the industrial division of Zuhair Fayez Partnership, a well-respected Saudi Arabian engineering consulting company. SLFE was formed partly in response to Saudi Aramco's General Engineering Services Plus (GES+) initiative, which aims to develop engineering capabilities in the Kingdom.
Under the GES+ initiative, SLFE will be invited to bid on front-end engineering and select detailed engineering services contracts to support the implementation of Saudi Aramco's capital program. Projects will include both on- and offshore oil and gas production and processing facilities, infrastructure projects, as well as refining and petrochemical facilities.
SLFE has commenced work on engineering services mandates for the GES+ initiative, all of which were competitively bid in-Kingdom by four Saudi Aramco-qualified GES+ contractors. The work is being executed out of SLFE's head offices located in Al-Khobar, Saudi Arabia.
"Saudi Aramco has been a valued client of ours for close to 20 years," said Andy Mackintosh, Executive Vice-President, SNC-Lavalin Group Inc. "We are honoured to have this opportunity to further our relationship, and contribute to the Kingdom's program to increase local expertise and employment. We are delighted by the confidence Saudi Aramco has shown in our technical expertise, systems and project management capability. We are looking forward to working collaboratively under this new long-term agreement to help Saudi Aramco achieve the objectives set out under the GES+ contract."
SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. SNC-Lavalin has offices across Canada and in over 40 other countries around the world, and is currently working in some 100 countries. www.snclavalin.com.
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