Japan-headquartered Denzai has established a joint venture company in Saudi Arabia with Fawaz Ali Alshammari Logistics (FTE).
Denzai Arabia was established in October 2023 and since its formation it has received many queries about wind power construction, crane operations, and heavy lifting operations in the region. To capitalise on the opportunities and provide value-added services, it formed a 50-50 joint venture with FTE. The deal should be completed by June 2024.
Kohki Uemura, ceo of Denzai, said of the deal: “The establishment of this joint venture with FTE Logistics, which has more than 25 years of experience in heavy lifting in Saudi Arabia, will enable us to provide integrated construction services in Saudi Arabia and the Middle East, from port transportation to installation work at project sites. In this country, large- scale projects are underway to break away from dependence on oil, and we hope to contribute to the optimisation of these projects by combining the management resources of the Denzai Group and FTE Logistics.”
Fawaz Al-Shammari, ceo of FTE, added its joint venture with “an international leader in wind farm and power plant installation will enable the two companies to provide a world-class service to the regional market”.
The deal was signed on February 12, 2024.
