UAE-based KBW Investments has signed an agreement for a multifaceted partnership with Greek engineering and consulting firm Salfo and Associates SA that will see the two companies expand operations and collaborate on projects in the Middle East and Europe.
The agreement will include large scale design and consultancy undertakings throughout the GCC alongside other emerging economies in the Middle East with plans for Europe, said KBW Investments founder and chairman Prince Khaled bin Alwaleed bin Talal, after signing the deal with Ioannis Foteinos, the chief executive of Salfo and Associates SA (Salfo).
"The formation of this agreement with Salfo - a long-standing and influential Middle East stakeholder in the engineering and project management segments- to KBW’s diverse list of partnerships serves multiple aims," remarked Prince Khaled.
"As a company based in Dubai, our multinational partnerships reflect the global nature of doing business from this Middle East hub. KBW is continuing to develop our portfolio across continents with a broad range of projects that vary in sector and size, and we are pleased to further build on this worldview with Salfo," he added.
The KBW Investments portfolio currently includes Romanian Arcadia Engineering with Middle East and Australian branches, in addition to an existing partnership with Progen Group, with Salfo serving to enhance the company’s overall strength in engineering and planning.
Salfo’s extensive project roster of infrastructure and building developments, in a multitude of arenas including rail and transport (traffic and roads), marine and airports, bridges and tunnels, as well as hotels, malls, sports complexes and public buildings, has positioned the company as the premier entity for engineering, planning, and design for more than two decades, and has allowed Salfo to continuously increase market share through competitive tendering, acquisitions, and strategic alliances.
On the tie-up, Foteinos said KBW and Salfo have successfully worked together on several occasions with exceptional results that demonstrated cohesion and a high level of co-operation between the two entities.
"With a shared focus of business integrity and superior delivery, both Salfo and KBW see the benefits and huge potential of this cross border relationship," stated the official.
"Salfo’s positive project experiences across the GCC countries and the wider Middle East will act as a solid base for further opportunities and growth," he added.-TradeArabia News Service