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Joint Venture Company in Saudi Arabia.
Tata Projects Limited entered into a Joint Venture agreement in Saudi Arabia with M/s Abdullah Ibrahim Al-Towaijiri & Partners Co. (Al- Mashrik Contracting Co.), Riyadh, a reputed and established contracting agency for execution of power, infrastructure and industrial projects in the Kingdom of Saudi Arabia.
The Joint Venture Company named Al-Tawleed Energy & Power Company was registered in Saudi Arabia as a Limited Liability Company (LLC) on 19th February, 2006 with paid-up capital of 2 mn. Saudi Riyals. The local partner holds 70% of the equity and the balance 30% is held by Tata Projects Limited.
In April 2007, Al-Tawleed Engergy & Power Company signed its first contract with Siemens Power Generation Group for the installation of the electrical, mechanical and C&I work for the Power Plant for the 3 x 300 MW and a water desalination plant (800,000 cubic metres per day) for an independent Water and Power Plant (IWPP) being constructed at Shuaibah located 110 km south of Jeddah, to be completed in 24 months.
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