Arabtec, Samsung Engineering Form Joint Venture
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Arabtec Holding PJSC, the Persian Gulf’s largest publicly traded construction company, formed a venture with Samsung Engineering Co. to further its expansion in the oil and gas industry.
Arabtec-Samsung Engineering will be 60 percent owned by Arabtec and 40 percent owned by Seoul-based Samsung Engineering. Management will be appointed shortly, according to a statement by the two companies today.