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Dangote Industries Limited has entered a multimillion joint venture agreement with Italy’s Saipem to establish a new company called Saipem-Dangote E&C
The new company aims to secure complex engineering and construction (E&C) projects in the Nigerian, Central and West African markets, said Dangote Group executive director Devakumar Edwin.
The new venture will implement projects with the highest levels of efficiency in terms of costs and timing, while maintaining sufficient flexibility to adapt to various project requirements, he added.
Saipem, which is controlled by oil and gas major Eni, has collaborated with Africa’s Dangote Group earlier. The new partnership will boost Dangote’s presence in the engineering and construction segment, which Saipem has expertise in.
“We are confident that our partnership with Saipem will position us as a major player in the oil and gas sector. Dangote’s financial strength, expertise and standing in the sub-Saharan African market will complement Saipem’s unique capabilities in engineering and construction in developing new business. Saipem values the satisfaction of its clients in the energy industry, tackling each challenge with safe, reliable and innovative solutions. Dangote Industries and Saipem shall gain mutual benefit from this partnership,” said Edwin.