- GE announces US$150 million additional investment for energy equipment manufacturing hub bringing total investment to US$250 million
- New 10,000 square meters GE Energy Manufacturing Technology Center is high technology service, manufacture and training hub
- Supports more than 2,000 GE jobs and drives the growth of indirect jobs in ancillary industries around the hub
- Joint venture with Ali A. Tamimi Co. will serve the wider Middle East region, Europe and Africa
Dammam, Saudi Arabia; June 1, 2011: Demonstrating its commitment to support the region's growing energy needs, General Electric Company, GE (NYSE: GE), today, celebrated the grand opening of its newest energy technology center. The GE Energy Manufacturing Technology Center in Dammam, Saudi Arabia, offers dedicated service to the energy value chain in the wider Middle East region, Europe and Africa with advanced energy technology services and manufacturing.
The GE Energy Manufacturing Technology Center was inaugurated by His Royal Highness Prince Mohammad bin Fahd bin Abdulaziz Al Saud, Governor of the Eastern Province of Saudi Arabia in the presence of over 400 high level Government officials and dignitaries, key GE executives including Vice Chairman John Krenicki and GE's joint venture partner Tariq Al Tamimi of Ali A. Tamimi Co.
At the inauguration, GE also announced an additional investment of over US$150 million for a regional manufacturing hub of equipment for the energy industry. This takes the total investment in the GE Energy Manufacturing Technology Center to US$250 million. The hub will support more than 2,000 GE jobs, in addition to catalyzing the growth of ancillary industries that support the facility.
GE's newest energy technology center in Saudi Arabia, one of the largest of its kind by the company world-wide, consists of three key main components: a manufacturing facility of high technology equipment for the power, water and oil and gas industries; a service and repair center for advanced turbine equipment; and a training center that will offer the latest technology and managerial courses for college students, field engineers and other power industry professionals throughout the region. This reflects the commitment of GE to empower Saudi human resources with the required skills to respond to the region's growing needs, especially in the energy and power sector.
Eng. Ali Saleh Al Barrak, President and CEO of Saudi Electricity Company (SEC), said: "As part of GE's commitment to Saudi Arabia, we are looking forward to this high quality integrated service facility where GE can repair advanced technology gas turbine-related parts locally, rather than send them out of the country, to save time and cost. We are also pleased to see the realization of GE's promise to expand the training of young Saudis and giving them the opportunity to know more about the operation and maintenance of the GE units with the advanced training center. We look forward to the future of more cooperation and partnership with GE."
Mr. Khalid A. Al-Falih, President and CEO of Saudi Aramco, added: "Saudi Aramco and GE enjoy a long-standing relationship that spans nearly eight decades; and GE's successful heritage in Saudi Arabia spans the entire spectrum of the energy industry. GE has acquired a stellar reputation for their technology and innovation. We are pleased to see GE's interest in pursuing industrial investments and presence in the Kingdom, which further supports Saudi Arabia's oil and gas industry as well as the job creation and economic diversification goals of the Kingdom."
Mr. Mohamed H. Al-Mady, Vice Chairman and CEO of Saudi Basic Industries (SABIC), said: "SABIC and GE share a global pedigree and enjoy a long standing relationship that spans many decades. Their historical success in the Kingdom of Saudi Arabia has encapsulated the full spectrum of the energy industry. GE has acquired a stellar reputation for their technology, innovation and investment in the markets they inhabit. We are delighted to observe this increased presence and commitment to the Kingdom, offering even greater support to the continued diversification of Saudi Arabian industry and the provision of new jobs."
Mr. John Krenicki, Vice Chairman, GE said: "As Saudi Arabia forges ahead with its ambitious development plans, the opening of the Energy Manufacturing Technology Center underscores GE's commitment to be closer to our customers who trust us to deliver the latest technologies and services across the full spectrum of the energy landscape. The additional investment we announced today is designed to accelerate the localization of our capabilities, boost the manufacturing and export sectors of the Kingdom and empower Saudi youth with promising career opportunities. This Center is another step forward in our energy partnership with the region and a milestone towards its continued growth and success."
The new technology center is developed in association with Ali A. Tamimi Co., GE's long-term joint venture partner. Both companies have been working closely together for almost 60 years. Mr. Tariq Tamimi, President, Ali A. Tamimi Co., said: "We are pleased to inaugurate this facility today with our partner GE, with whom we have had a close relationship in the Kingdom over the last 60 years. We see this new Center as a regional hub for the energy industry which will effectively complement and boost current energy service capability. The Dammam facility will provide localized support in all engineering and commercial aspects, which is important for long-term sustainability."
The core capabilities of GE Energy Manufacturing Technology Center are:
Manufacturing of high technology equipment for power, water, industrial and oil & gas sectors -- US$150 million
The GE Energy Manufacturing Technology Center will have the capability to manufacture high technology equipment supporting the power generation, electrification and oil & gas industries. This is part of GE's expanded manufacturing investment for energy equipment which includes critical components for GE gas turbines for the generation of electricity, control units for the reliable transmission of electricity, low and medium voltage motors for heavy industries as well as drilling and production equipment for the oil and gas industry. This drives an end-to-end solution for the energy industry. These kinds of equipment are critical to the operations, efficiency and optimization of the energy infrastructure in the region.
Increased service and repair capabilities - US$80 million
The GE Energy Manufacturing Technology Center opens at a time when greater emphasis is being placed on doing more with less in the energy sector. Achieving increased efficiency with existing energy infrastructure is a top priority with regional utility providers given the rising price of energy.
With a focus on quality, value and delivery, the Center provides best-in-class repair and service technology capabilities and is designed to enable customers to provide a reliable supply of electricity. GE's newest Technology Center will deliver quality service for advanced and innovative technologies, such as the first regional F-technology turbine service and repair and Balance-of-Plant test and inspection to customers.
Expanding GE's training commitment in the Kingdom - US$20 million
The advanced training center hosted within GE's new facility will offer the latest technology and managerial courses for college students, field engineers and other power industry professionals throughout the region. This training center is an additional example of GE's active response to support the Kingdom in achieving its human resource development ambition.
The technical education that will be offered will be key to providing young Saudi and regional talent with the skills and qualifications to contribute to the Kingdom's growing energy sector. GE training efforts include comprehensive co-op programs with leading Saudi universities, including King Fahd University of Petroleum and Minerals, Prince Mohammed Bin Fahd University as well technical colleges under the Technical and Vocation Training Corporation (TVTC) such as al Hasa, al Ahssa and Dammam College of Technology.
About GE Energy in the Middle East
The Middle East is a key region for GE Energy, where the company supports the region's needs for sustainable energy and water resources, and its infrastructure growth. GE is an energy leader in the Middle East with a presence extending over 80 years. The company has over 1,000 turbines with installed capacity of over 70GW (around half of total installed power of the region).
GE has built long-standing relationships with the region's leading organizations. In the past two years alone, GE Energy announced over US$10 billion in power generation equipment and services. These include the US$2.6 billion contract with Sabiya in Kuwait for the country's first CC power plant, US$500 million contract for the Al Dur IWPP in Bahrain, US$1 billion for SEC's PP10 project in Riyadh, Saudi Arabia, and US$3 billion with Iraq for the supply of power generation equipment and services.
Kelly Home
ASDA’A Burson-Marsteller
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+971 4 4507 600
Nivine William
ASDA’A Burson-Marsteller
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+971 4 4507 600
Caroline Wehbeh
GE Communications Leader, North Africa
[email protected]
+971 4 429 6318