Pact for ventures
Posted: 25 June 2007
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Singapore ’s Swiber Holdings has signed a pact with Emirates Investment Group (EIG) to jointly explore investment opportunities in the Middle East .
It will pave the way for a 50:50 joint venture company to combine Swiber’s technical capability, marine vessels and personnel with Emirate’s market understanding and business contacts. The proposed joint venture will be incorporated in Sharjah , United Arab Emirates .
“The Middle East is of strategic importance to Swiber’s development as it is a major growth area for the oil and gas industry,” said CEO Raymond Goh.
EIG is expanding its portfolio with investment in the oil and gas sectors. |
