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General Electric, Dussur Announce $267 Million Joint Venture

May 24, 2017 News Bulletin

General Electric Company (GE) announced a $267 million (SR1 billion) joint venture with Saudi Arabian Industrial Investments Company (Dussur) to make gas turbines in Dammam. The partnership follows GE’s $15 billion in agreements over the weekend. According to a memorandum of understanding that GE and Dussur signed in 2016, the two companies plan to invest a combined $1 billion (SR3.75 billion) in various sectors of the Saudi economy in 2017.

Tags: ArabArabiaBusinessbusiness councilbusiness developmentDussureconomicGCCGEGeneral ElectricGulfjointjoint ventureKSAMENAmiddle eastSaudiSaudi ArabiaU.S.U.S. Saudi Arabian Business CouncilUSUS Saudi Arabian Business CouncilUSSABCventurevision 2030
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