GE CEO to Boost Investments in Energy to Health in Saudi Arabia

General Electric Co. (GE) plans to add more local manufacturing facilities, training and research centers in Saudi Arabia as part of its $1 billion commitment to the country, Chief Executive Officer Jeffrey Immelt said.

The new plants and centers will support the oil and gas, power, and health sectors -- areas where GE expects to see its business expand, Immelt said today by phone from Saudi Arabia.

Saudi Arabian Oil Co., GE and Tata Consultancy Services (TCS) yesterday introduced the first all-female business process services center in Riyadh. The center, which will initially serve Saudi Aramco and GE as clients, will be staffed by Saudi females with Tata and GE owning 76 percent and 24 percent of the venture, GE said in a statement.

The business-service center is part of a GE global strategy under which it opened six centers worldwide, Immelt said.

GE announced yesterday the opening of a training facility, in the Kingdom’s petrochemical hub city of Jubail. The GE Technical Academy demonstrates the company’s commitment to the government’s plans to create more jobs for its youth, especially in technology-related and energy sectors, Immelt said.

To contact the reporter on this story: Wael Mahdi in Manama at wmahdi@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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