French engineering group 2643 Egis has acquired 51% of Projacs, a major project and construction management firm in the Middle East.
Egis, based in Guyancourt, north of Paris, made the purchase for an undisclosed sum.
The move follows the purchase in Brazil of highways contractor Lenc at the end of last year.
Projacs, founded in 1984, is based in the Gulf Cooperation Council countries of Saudi Arabia, Bahrain, Oman, Qatar, United Arab Emirates and Kuwait, but also operates in neighbouring countries. It has a around 700 employees and had a turnover of around US$70 million last year.
Projacs also has its own training institute which accounts for 11% of its annual business.
A statement from Egis said the two companies have together more than $2,500 billion worth of projects under planning, bidding or execution across the region.
The two companies have already been sharing “significant opportunities for partnership and have over the past few months began sharing resources and capabilities as well as developing joint approaches for business development”.
Nicolas Jachiet, chairman and chief executive of Egis, said the deal allows sharing of important government contracts including for the National Guard in Saudi Arabia, the Ministry of Education and the Public Authority for Applied Education in Kuwait and the Qatar Olympic Committee. Private sector work includes the development of nine Accor hotels in Saudi Arabia, the new National Bank of Kuwait head office landmark or the City Stars new development in Sharm Alsheikh.
Nabil Al-Qaddumi, founder and chairman of Projacs said the partnership allows opportunities for Projacs in infrastructure, transport, water, energy and large-scale urban development.
Egis offers engineering, project structuring and operations services. In engineering and consulting, it operates in transport, urban development, building, industry, water, environment and energy sectors. In roads and airports it encompasses project structuring, equity investment, turnkey systems delivery, operation and mobility services.
Egis employs 12,000 people, including 7,800 in engineering, and had a turnover of €854 million in 2014m, but only 7% of its 2014 turnover came from Middle East work. |The company is 75% owned by the French government-owned investment organisation Caisse des Dépôts and 25% owned by the employee shareholding organisation Iosis Partenaires.
Recent Middle East projects for Egis include design studies and construction supervision of 130km of expressways in Doha. Egis is renovating aviation infrastructure at Riyadh airport in Saudi Arabia as well as assisting the Saudi civil aviation authority for the commissioning of new infrastructure at the King Abulaziz airport in Jeddah.
The purchase of Lenc in Brazil last November was part of a strategy to expand aggressively in Brazil that it has been focusing on since 2011.
Lenc, established in Sao Paulo in 1975, has 450 employees whose road building work ranges from preliminary studies and project management to work supervision and inspection. It also operates nearly 2,500km of roads and runs a major materials testing laboratory as well several geotechnical surveying facilities. In the past decade, the company has expanded into environmental field work.
Lenc’s 2013 turnover reached nearly $50 million, generated entirely in Brazil. Its main clients are public sector contracting authorities in the transport field and privately-owned firms in the environmental sectors.
Egis, based in Guyancourt, north of Paris, made the purchase for an undisclosed sum.
The move follows the purchase in Brazil of highways contractor Lenc at the end of last year.
Projacs, founded in 1984, is based in the Gulf Cooperation Council countries of Saudi Arabia, Bahrain, Oman, Qatar, United Arab Emirates and Kuwait, but also operates in neighbouring countries. It has a around 700 employees and had a turnover of around US$70 million last year.
Projacs also has its own training institute which accounts for 11% of its annual business.
A statement from Egis said the two companies have together more than $2,500 billion worth of projects under planning, bidding or execution across the region.
The two companies have already been sharing “significant opportunities for partnership and have over the past few months began sharing resources and capabilities as well as developing joint approaches for business development”.
Nicolas Jachiet, chairman and chief executive of Egis, said the deal allows sharing of important government contracts including for the National Guard in Saudi Arabia, the Ministry of Education and the Public Authority for Applied Education in Kuwait and the Qatar Olympic Committee. Private sector work includes the development of nine Accor hotels in Saudi Arabia, the new National Bank of Kuwait head office landmark or the City Stars new development in Sharm Alsheikh.
Nabil Al-Qaddumi, founder and chairman of Projacs said the partnership allows opportunities for Projacs in infrastructure, transport, water, energy and large-scale urban development.
Egis offers engineering, project structuring and operations services. In engineering and consulting, it operates in transport, urban development, building, industry, water, environment and energy sectors. In roads and airports it encompasses project structuring, equity investment, turnkey systems delivery, operation and mobility services.
Egis employs 12,000 people, including 7,800 in engineering, and had a turnover of €854 million in 2014m, but only 7% of its 2014 turnover came from Middle East work. |The company is 75% owned by the French government-owned investment organisation Caisse des Dépôts and 25% owned by the employee shareholding organisation Iosis Partenaires.
Recent Middle East projects for Egis include design studies and construction supervision of 130km of expressways in Doha. Egis is renovating aviation infrastructure at Riyadh airport in Saudi Arabia as well as assisting the Saudi civil aviation authority for the commissioning of new infrastructure at the King Abulaziz airport in Jeddah.
The purchase of Lenc in Brazil last November was part of a strategy to expand aggressively in Brazil that it has been focusing on since 2011.
Lenc, established in Sao Paulo in 1975, has 450 employees whose road building work ranges from preliminary studies and project management to work supervision and inspection. It also operates nearly 2,500km of roads and runs a major materials testing laboratory as well several geotechnical surveying facilities. In the past decade, the company has expanded into environmental field work.
Lenc’s 2013 turnover reached nearly $50 million, generated entirely in Brazil. Its main clients are public sector contracting authorities in the transport field and privately-owned firms in the environmental sectors.
