RIYADH: On the sideline of the Global Competitiveness Forum taking place in Riyadh, Al-Olayan Financing Company which manages the Middle East operation of Olayan Group, signed on Monday a joint venture with CH2M Hill, a global leader in engineering, procurement, construction and operations for government, civil, industrial and energy clients.
According to Khalid Suleiman Olayan, chairman of Olayan Group, the joint venture, which will be called CH2MOlayan and based in Riyadh, will bring expertise to the Saudi market in executing complex projects and assisting clients in a broad range of business and industry sectors.
CH2M Hill employees provide the full spectrum of consulting, engineering, construction and operation services that support project goals for public and private clients. Lee McIntire, chairman and CEO of CH2M Hill sees the joint venture as a mean to participate in providing work opportunities, and supporting young Saudi businessmen.
McIntire expressed his and his company’s delight to join hands with Olayan as it enjoys a good reputation, and solid local, regional and international expertise. “I am confident that our experience combined with Olayan’s rooted structure and resources in Saudi Arabia will place us in a position to deliver state of the art services,” said McIntire.
Olayan said, commenting on the signing of the joint venture, “Olayan has a long track record of bringing superior products, services, technologies and capital to Saudi Arabia and to the region.” He added that over 60 plus years of the company’s existence it had partnered with some of the best and most recognized regional and international companies.
The joint venture with CH2M Hill, according to Olayan, is expected, to bring their experience and expertise to execute very large scale projects on time and within budget to the Saudi market. “We will benefit greatly from transferred knowledge, expertise and technologies which will contribute to the further growth of the Kingdom’s economy and help it continue to become more competitive in the global and domestic marketplaces,” said Olayan.
