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August 19, 2009 - Istanbul, TURKEY – Ergil Group, a worldwide specialist in engineering and construction of oil, gas, water, chemical and petrochemical storage tank facilities; and manufacturer of storage tank, pipeline and corrosion control equipment, is pleased to announce that Ergil and Aljoaib Holding have agreed to sign a JV agreement between Ergil Group and “Engineering Services and Development Center” (ESD), subsidiary of Al Joaib Holding, in the Kingdom of Saudi Arabia (KSA).

 

Aljoaib Holding is deeply rooted in the KSA business community with a well-established track record in the Holding’s diversified scope of business. The areas of business interest for Aljoaib Holding are: Oil and Gas, Healthcare, Project Management, Fabrication, Water Treatment Environmental Services, Electro-Mechanical Components, Agriculture and Irrigation Systems, as well as QC, Geotechnical and Engineering Consultancy Services.

 

This agreement paves the way to the launch and development of cooperation between the two groups in the areas of engineering, manufacturing and operations in KSA. The signing of the agreement is another step for Ergil to enhance its presence in the oil and gas industry of the Middle East. Through the JV with ESD, Ergil aims to strengthen its position in the Saudi Market, which Ergil sees as a unique market for the oil and gas industry.

 

ESD is a registered Saudi Company, which was established in 1993 as an engineering arm to Aljoaib Holding to focus on the development of various engineering systems and the supply of industrial control and monitoring instruments. ESD is specialized in building engineering systems by integrating various electro-mechanical components to constitute new special-purpose built engineering systems.

 

Dr. Abdulla Ali Aljoaib, the Chairman and CEO of ESD, believes that the signing of the Joint Venture Agreement with Ergil will enhance the competitiveness of both partners and strongly reestablish their respective positions in the Oil and Gas sector of Saudi Arabia, as well as other related sectors. “The launch of this partnership with a high caliber Turkish Group, like Ergil, and the integration of Ergil’s know-how and expertise, and Aljoaib’s long established, reputable track record will lead to a solid merger, which in return should put us in better position to serve our local clients, such as Aramco and Sabic, with better performance and competitive value on all fronts.” said Dr. Aljoaib. 

 

 

Riza Altunergil, the International Business Manager, comments: “I believe that signing a partnership with ESD and its parent company, Aljoaib Holding, is major step forward for Ergil in the KSA market as an active player in the energy sector throughout the Middle East. Partnering with a local player like Aljoaib will also improve our pre-sale and post-sale customer support and responsiveness in Saudi Arabia. In the long-term, Aljoaib & Ergil JV will focus on local manufacturing and fabrication, which will certainly provide us core advantages. “