Arab News reported that Saudi company has signed a MoU with a Turkish company to form a JV for constructing overhead transmission line projects in the Kingdom.

The agreement was signed between Mr Mazin Al Alami president of Al Toukhi Company for Industry, Trading & Contracting Limited and Mr Hayrettin Ozdil chairman of Ozdil Energy, Contracting, Trade and Industry Inc at the Faisaliah Hotel.

Mr Al Alami told newsmen following the signing ceremony that "The 2 companies will own equal shares in this JV which is geared to implement contracts for Extra High Voltage transmission line projects." He pointed out that the Kingdom had a long list of such projects with 3,355 kilometers expected to be tendered by 2014.

Mr Al Alami said that "Partnering with a world class contractor such as Ozdil, Al Toukhi will aggressively target the overhead transmission line projects that are currently in the pipeline in Saudi Arabia. Such projects will enable the gradual completion of the national grid which will ultimately benefit the end user."

Mr Hayrettin Ozdil said that "The Saudi market presents new opportunities for Ozdil and we look forward to implementing projects here." He added that his company has extensive knowledge worldwide and especially in the Middle East particularly in the power sector. We see this JV as a step in the right direction given Saudi Arabia's expansion plans in the power sector."

(Sourced from Arab News)