Who hasn’t visited or patronized stores of Spanish fashion companies? Surely you’ve been to Mango (which has 23 stores in the Kingdom), Zara (15 stores), Stradivarius (11 stores), Massimo Dutti (7 stores), Bershka (4 stores), Oysho (2 stores)... Last year, Spanish exports to Saudi Arabia grew by 7.2 percent and reached $710 million.
But, wait! Spain has just been declared the world’s 4th largest overseas investor by UNCTAD’s (United Nations Conference on Trade and Development) 2005 World Investment Report. No doubt Spanish companies are already here. And they want to be more present than ever.
Tecnicas Reunidas Gulf, a subsidiary of one of the largest engineering company in Spain, is living up to its reputation for quality and has earned the trust of one of the companies in the world with the highest compliance requirements, Saudi Aramco. The company has been awarded contracts worth over $1.5 billion to build projects for the processing of petroleum and gas in the Kingdom.
Repsol, another Spanish giant and one of the world’s largest energy companies, has joined a consortium led by Aramco to explore for natural gas in the Rub Al Khali desert area.
Another large Spanish company, OHL, could participate in the bidding for the Landsbridge project to build a cargo railway line next year. OBRASCON, part of the OHL group, has built part of the highway between Madinah and Jhaibar and part of the terminal at Yanbu’s airport.
The Spanish company CAF can provide high-speed railway cars for the transportation of cargo. The Spanish telecommunications giant, Telefonica, with the valuable experience earned last year, may consider bidding for next year’s third telecom license.
And naturally, a country such as Spain where hot, dry weather is a factor, has acquired valuable expertise turning sea water into drinking water in what is known as desalination. Spanish companies are aware of the demand for new projects in the Kingdom and are eager to share their knowledge.
And, finally, who hasn’t tasted Spain’s quality olive oil?
In 2005, the Trade Office of the Spanish Embassy in Riyadh is bringing 11 trade missions to Saudi Arabia and has invited 16 delegations of Saudi businesspersons to visit Spain.
Important opportunities are opening up. If you need further information about Spain or its companies, we will be more than happy to welcome you at the Spanish Embassy’s Trade Office in Riyadh. Please drop us a line at: P.O. Box 94327, Riyadh 11693 or write at: [email protected]
