Enshore Subsea will benefit from the technical expertise and financial resource of Al Gihaz Contracting
Riyadh-based Al Gihaz Contracting, part of Al Gihaz Holding has recently announced its acquisition of assets, Intellectual Property and the management systems of Enshore Subsea, 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.
“With this acquisition, Enshore Subsea will benefit from the technical and financial expertise of Al Gihaz Contracting, which for many years has been a leading power and manufacturing services provider locally and internationally,” noted Sami Alangari, Group Vice Chairman, Al Gihaz Holding.
“With Al Gihaz, Enshore Subsea will move forward with a sustainable cost base, renewed energy and focus on our areas of expertise,” observed Pierre Boyde, Managing Director, Enshore Subsea.
This latest acquisition from Al Gihaz Holding further supports the strategic ambitions of the Group to be at the forefront of new and clean technologies and follows multiple investments in solar and wind power plants in different regions of the world.
The Group has also been active in smart meters, IoT and energy efficiency projects in the Kingdom in recent years.
