Saudi-based Al Gihaz Contracting has announced the acquisition of Enshore Subsea, a UK-based subsea trenching company. This will pave the way for creation of a new joint venture that will offer seabed intervention and construction management services.
Al Gihaz Holding was founded by Saeed Al Angari in 1975 and the group has interests in a number of sectors including energy, healthcare, construction services, media and exhibitions technology and telecommunications, including smart metering services.
Enshore Subsea is based in the Port of Blyth on England s north east coast. It had been owned by Norway-based subsea services provider Deepocean but it placed all of its UK assets into a restructuring process in November last year.
The company s location is ideal to serve the buoyant offshore wind market in northern Europe and its existing management will remain with the new joint venture, Al Ghizal Holding said.
Al Gihaz buys Enshore Subsea - reNews - Renewable Energy News renews.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from renews.biz Daily Mail and Mail on Sunday newspapers.
Al Gihaz Holding (KSA) Completes Investment in Enshore Subsea (UK)
Al Gihaz Contracting, part of Al Gihaz Holding has today announced its acquisition of assets, Intellectual Property and the management systems of Enshore Subsea Ltd, a leading UK based subsea trenching company, providing seabed intervention services to mega-projects across industry around the world.
The acquisition will see the creation of a new joint venture with the aim of forming a leading seabed intervention and construction management services provider. The joint venture will rely on the acquired specialized assets of the company, the skilled team and the company’s successful track record of completed projects to aid the Kingdom of Saudi Arabia’s drive to generating 58.7GW of clean energy by 2030 as part of the powerful Saudi Vision 2030.
Al Gihaz Holding (KSA) Completes Investment in Enshore Subsea (UK)
USA - English
Share this article
Share this article
RIYADH, Saudi Arabia, April 6, 2021 /PRNewswire/ Al Gihaz Contracting, part of Al Gihaz Holding has today announced its acquisition of assets, Intellectual Property and the management systems of Enshore Subsea Ltd, a leading UK based subsea trenching company, providing seabed intervention services to mega-projects across industry around the world.
Enshore Subsea’s T1 trenching asset, Middle East 2018 (PRNewsfoto/Al Gihaz Holding (KSA))
The acquisition will see the creation of a new joint venture with the aim of forming a leading seabed intervention and construction management services provider. The joint venture will rely on the acquired specialized assets of the company, the skilled team and the company s successful track record of completed projects to aid the Kingdom of Saudi Arabia s drive to generating 58.7GW of clean energy by 2030 as part of the po