Riyadh – Mubasher: DUSSUR’s joint venture (JV) with General Electric (GE) to manufacture turbines in the Kingdom will start by the end of 2017, according to Dussur's CEO.

“Manufacturing of GE's H-Class turbines in Saudi Arabia would start before the end of the year with the first turbine to be completed in 2018,” Rasheed Al Shubaili told Reuters.

Al Shubaili noted to the agency that the turbines will be sold to national and international customers.

On Wednesday, DUSSUR and GE had signed a memorandum of understanding (MoU) to co-invest in strategic sectors that will help develop and localise industrial value chains in Saudi Arabia to serve the domestic market and beyond.

The Saudi company said that a joint investment worth SAR 3.75 billion ($1 billion) will be launched by 2017, in addition to an aggregate potential investment of SAR 7.5 billion ($2 billion) to support projects in the fields of water, energy, aviation, digital, and other sectors as of 2017.