EEIC wins Fadhili Gas Plant contract

EEIC has won a contract to provide the Fadhili Gas Plant with low-voltage switchgear, low-voltage motor control centers and pre-fabricated substations.
Updated 03 January 2018
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EEIC wins Fadhili Gas Plant contract

Electronic and Electrical Industries Corporation (EEIC), a power and automation solutions provider and a subsidiary of Abunayyan Holding, has won a contract to provide Fadhili Gas Plant (FGP) with low-voltage switchgear, low-voltage motor control centers as well as customized pre-fabricated substations (e-houses).
A specialist in providing these prefabricated buildings, EEIC has a long history of providing these structures to similar projects such as the Uthmaniyah project.
In line with the Vision 2030, EEIC seeks to not only further expand its reach but also to maintain its competitive edge by working alongside global technology providers and companies such as Tecnicas Reunidas (TR) with whom it shares a long and successful partnership.
Mohamed Tayel, commercial operations director of EEIC said: “Fadhili Gas Plant is one of many megaprojects that EEIC has worked on alongside Tecnicas Reunidas. We have a long history of working with them and are looking forward to doing so once again. It is also a great time for Saudi companies like us to come forward and take advantage of the encouragement and push given by the government. We have skilled workers, factories on a par with international standards and can, therefore, deliver excellent results locally.”
The FGP, located approximately 30 km southwest of Khursaniyah Gas Plant, has a total capacity of 2,500 million standard cubic feet per day (mmscfd) and presents a dynamic opportunity for further developing and utilizing the Kingdom’s gas reserves.
Being associated with a megaproject of this nature is a great prospect for its main contractor, TR that was awarded the project by Saudi Aramco as well as for local companies like EEIC brought on board to provide the electrical scope for the FGP.


GIB Capital takes 4 EMEA Finance awards

Updated 12 December 2018
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GIB Capital takes 4 EMEA Finance awards

GIB Capital, a Riyadh-based regional investment banking and asset management arm of Gulf International Bank (GIB), has won awards in four categories in the EMEA Finance Middle East Banking Awards 2018.

The awards for the 11th year are recognizing the achievements of the best banks, asset managers and brokers in countries across the Middle East. 

Recognizing GIB Capital’s continued regional market leadership across investment banking products, EMEA Finance named GIB Capital as the “Best Investment Bank in the Middle East,” “Best Local Investment Bank — Saudi Arabia” and “Best Local Investment Bank — Bahrain,” each for the third consecutive year. GIB Capital was also named the “Best Foreign Investment Bank — Oman” for the second consecutive year. 

Osamah Mohammed Shaker, CEO of GIB Capital, said: “We’re extremely proud of the work that GIB Capital is doing for our clients across the GCC and of the recognition and confidence we continue to enjoy from the market for excellence in investment banking. The continued recognition that we have received across a number of geographies underscores our position as a leading player in our core markets.” 

During the 12-month review period for the EMEA Finance awards, GIB Capital completed over $17 billion in capital market transactions including sovereign issuances for Saudi Arabia, Bahrain and Oman. GIB Capital also assisted the shareholders of Saudi Tabreed District Cooling Company with the sale of a minority shareholding to IDB Infrastructure Fund II, in which the major investors include the Islamic Development Bank (IDB), Public Investment Fund (PIF), Public Pension Agency (PPA) of Saudi Arabia, Ministry of Finance of Bahrain and the Ministry of Finance of Brunei Darussalam. 

In another landmark transaction, GIB Capital assisted the shareholders of Byrne Equipment Rental Company with the sale of 100 percent shareholding to a consortium of investors including CITIC Pacific, a Chinese sovereign wealth fund, and V-Power, a Chinese company engaged in power generation.

EMEA Finance is among the leading information sources for the finance industry, delivering compelling and relevant reporting about the activities, challenges and opportunities that exist in one of the world’s most dynamic and emerging regions — the combined emerging Europe, Middle East and Africa. Awards are set to be presented to winners at the magazine’s annual awards ceremony taking place in Dubai in February 2019.