Leading engineering company Gammon Group has partnered with 42 international companies to develop a new industrial city in Jazan city.
The company has been assigned to facilitate developing the industrial city and is now studying the proposals of several big companies and business tycoons, said the Saudi Gazette. Gammon is a global construction company with a strong presence in emerging markets in Asia and Middle East and North Africa (Mena) region.
In December 2013, the company had signed an agreement with Prince Turki bin Mohammed bin Nasser, director of international trade at the Ministry of Commerce and Industry, to develop the city by bringing in foreign investors to build its entire infrastructure facilities such as roads, bridges, commercial centres, power plants, water treatment plants, oil refineries and petrochemical plants.
“A number of leading companies from Japan, China, South Korea, India and other countries are interested to make investments in the city and Gammon is negotiating with these companies,” says chairman Sheikh Rafik Mohammed.
Key investors include B R Shetty, the chief executive officer and managing director of New Medical Centre Group of Companies and UAE Exchange, and Indian group Shree Basaveshwar Sugars Limited (SBSL).