RIYADH, 22 February 2007 — Eirad Holding, a Saudi company based here, signed a joint venture agreement with Jurong International of Singapore — specializing in construction, design, execution of buildings and facilities management services consultancy —for the establishment of a joint company under the Saudi Foreign Capital Investment Regulation.
Dr. Mamdouh F. Ghazzawi, executive managing director of Eirad Holding Company, told Arab News that the objective of the joint venture is to benefit from Jurong International in providing a complete range of works including the design and execution of construction services as well as supporting a range of commercial, institutional and industrial projects and other various infrastructure and port projects.
The joint venture agreement is an offshoot of the Memorandum of Understanding signed with the Singaporean Company on Dec. 20, 2006 where a Saudi-Singaporean company shall be established under the name of “Saudi Jurong” to benefit from Jurong’s experience and innovative techniques and of Eirad’s knowledge of the local market. The joint venture stems from our shared principles in providing valued added and quality service to our customers.
Eirad Holding is a diversified company involved in international and domestic mail courier services, supply chain solutions, defense technology, travel & tourism and telecommunication infrastructure.
With its steady growth, the company has evolved into a group of companies that cater to the local and worldwide market.
Its offices are located in the different parts of the Kingdom with head office in Riyadh. Jurong International is a multi-disciplinary organization whose business model is based on consultancy, design, build and facilities management services.
It has presence spanning over 124 cities across 36 countries, with established offices in Singapore, China, India, UAE, Qatar, Jordan and currently in Saudi Arabia.
Eirad Holding is a Saudi company under the chairmanship of Prince Sultan bin Fahd bin Salman bin Abdul Aziz. Eirad owns, operates and sponsors many multinational companies in Saudi Arabia including, but not limited, to UPS (the world’s largest package distribution company and a world leader in supply chain solutions), TSA ( Security and Defense system integrators a joint venture of Northrop Grumman of the US) and Eirad Travel and Tourism sponsorship of Pakistan International Airline (PIA).