Sewatama eyes Middle East power market
Friday, December 4 2015 - 02:51 AM WIB
PT Sumberdaya Sewatama signed a cooperation agreement on Thursday with National Gulf Investment LLc & FO Trading for the supply of power in the Middle East and Africa regions amid growing demand.
Sewatama President Director Elan B. Fuadi was quoted by Kontan as saying that the agreement forms part of the company?s expansion in the temporary power business, where the company has previously entered the market in Thailand.
He said as part of the agreement, Sewatama will allocate US$120 million over the next three years for gradual shipment of reciprocating diesel engine to the Middle East.
Meanwhile, National Gulf will spend $60 million to build a joint office in Dubai, he added. (*)