SINGAPORE: Sembawang Engineers and Constructors (Sembawang E&C) is teaming up to form a joint venture company with Dayim Al-Haditha.

The company, to be known as Dayim-Sembawang Engineering, will offer expertise and services in infrastructure projects such as hotels, hospitals and retail developments within Saudi Arabia.

Sembawang E&C is a wholly-owned subsidiary of India-listed Punj Lloyd Group, while Dayim is an investment vehicle of the Kingdom of Saudi Arabia.

The joint venture company will have a share capital of S$800,000.

Sembawang E&C will have a 49 per cent stake in the joint venture, with Dayim holding the remaining 51 per cent.


- CNA/so