Friday, 03 December 2021 07:41 GMT

Saipem signs deal to set up newco with Saudi Aramco


(MENAFN- Trend News Agency ) Italian energy services group Saipem (SPMI.MI) said it signed an agreement with Saudi Aramco to look into setting up a company to do engineering and construction (E&C) work in Saudi Arabia, Trend reports with reference to Reuters .

In a statement Saipem said the new company would carry out E&C activity in the energy and infrastructure industrial sector.

The agreement, signed on September 7, is part of Saudi Aramco's Namaat Investment Industrial Program.

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