Saipem in JV with Dangote Group
- Business & Finance
Saipem has entered into a Joint Venture with Dangote Group, one of Africa’s companies, to create a new company named Saipem Dangote E&C.
Saipem Dangote E&C is a new player in the Nigerian and Central/West African market, with high technical and financial capabilities, Saipem said. It aims to secure complex Engineering & Construction projects and ensure a realization capacity focused on efficiency, in terms of costs and timing, and flexibility, in order to respond to different needs related to specific projects, to local content and to the country’s context.
According to Saipem, the two companies have a track record of successful collaboration, drawing on the strengths and competences of both companies.
The new JV will benefit from Dangote’s financial strength, expertise and standing in the sub– Saharan African market, where it has launched a significant oil and gas investment programme, complemented by Saipem’s unique capabilities in E&C, to develop new business, Saipem explained.
Saipem has been conducting operations in Nigeria for over 50 years. Saipem Contracting Nigeria Ltd operates principally as an Engineering, Procurement and Construction (EPC) contractor for the execution of turn-key projects including oil, gas and water pipelines, oil, gas and industrial plants, infrastructures, fabrication of offshore structures and maintenance services.