GE and MODON sign oil and gas facility agreement in Saudi Arabia

gas facility saudi-fairbanksmike flickrThe planned new facility will be part of the US$1bn investment commitment to the kingdom last year. (Image source: Fair Banks Smike/Flickr)GE has signed a 74,000 sq m land lease agreement with the Saudi Industrial Property Authority (MODON) for an oil and gas manufacturing facility in Dammam

According to GE, over 50 per cent of the land, located in Dammam Second Industrial City, is likely to be utilised initially by GE’s oil and gas business to build an advanced oil and gas manufacturing facility.

The planned new facility will be part of the US$1bn investment commitment to the Kingdom last year.

It will cover an area of approximately 40,000 sq m and will integrate the different business lines of GE Oil & Gas under one roof, company sources said.

The facility is intended to provide consolidated offices and manufacturing capabilities, including measurement and control, subsea systems, artificial lift and pressure control equipment for its drilling and surface business.

Tawfiq Al-Rabiah, Saudi Arabia’s minister of commerce and industry, said, “As the largest manufacturing company in the world, GE’s presence will be an added value, and this project is part of the company’s commitment to invest US$1bn in the Kingdom, including in the manufacturing sector.”

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