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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
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