Riyadh – Mubasher: France’s Engie said it is following up its expansion in the Saudi market through developing projects and assets worth $8 billion (SAR 30 billion). This comes despite the challenges posed by the coronavirus pandemic on the worldwide business sector.  

It further added it plans to invest $6.43 billion (SAR 24.1 billion) in assets in the kingdom by 2025, according to a statement.

The low-carbon energy and service solution provider has set up a holding company in Saudi Arabia to enhance its presence there and to bring all of its assets in the kingdom under one umbrella.

Moreover, it named Turki Al Shehri as a CEO for the holding firm.

Over the past nine months, the French utility company won nine new contracts for projects in the facilities’ management field, in addition to a reverse osmosis-seawater desalination plant project and projects to provide energy services through the company’s service providers in partnership with Saudi parties.