NATCO Enters JV with Saudi Arabian Investment Company
NATCO Group says that its subsidiary had entered into a joint venture agreement to build, market and sell process equipment and systems and related services with Al-Rushaid Petroleum Investment Company, an affiliate of the Al-Rushaid Group Company, a Saudi Arabian enterprise with extensive business operations in the energy services sector.
"Our alignment with the Al-Rushaid Group establishes a relationship with a world-renowned partner with significant capabilities in the Kingdom, including engineering, manufacturing, construction, drilling and market presence," said NATCO Chairman and CEO John Clarke.
The joint venture agreement includes the construction of a new, dedicated vessel manufacturing facility within Al Rushaid's new industrial complex in Jubail. The construction of the facility is expected to be completed by year-end 2008. The facility will have the capability to manufacture pressure vessels for the upstream, downstream and petrochemical markets. In addition, the venture will have the capability to deliver skidded packages incorporating NATCO production processing technologies.