Arabtec Construction, a subsidiary of Arabtec Holding, has formed a joint venture with two Saudi partners to establish Arabtec Saudi Arabia.
The Saudi participants are CPC Services, a member of the Saudi bin Laden Group, and Prime International Group Services. Arabtec will have a 45 per cent stake in the partnership, while CPC will hold 35 per cent and Prime 20 per cent.
“The aim of Arabtec Saudi Arabia is to play a key role in the ongoing growth of the Saudi construction and infrastructure market,” said Riad Kamal, the chief executive of Arabtec Holding.
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