25.08.2009

Harsco agrees new JV in Saudi

Harsco’s access division has signed a new Joint Venture deal with the Al Baroom Group in Saudi Arabia.

The new joint venture builds on the long-standing collaborative agreement between Harsco and the Jeddah-based Al-Baroom. The new company will combine the two organisations’ experience and market knowledge to provide engineered scaffolding and formwork systems and installation services to the Saudi infrastructure and construction markets.

Harsco chief executive Salvatore D. Fazzolari said: “This new joint venture will formalise and strengthen our successful relationship and should enable us to add substantially to our performance from this important growth market. We are honoured by our proud and strong relationship with the Baroom family and the long-standing reputation for excellence and integrity that has been achieved in every aspect of our partnership.”

Saudi Arabia has outlined a number of initiatives that are expected to make it one of the most significant construction sites in the world over the coming years. One of the largest is the anticipated construction of King Abdullah Economic City, that will be built north of Jeddah. The plans include a new international port and large-scale industrial zone, as well as residential housing for a projected population of more than 1.5 million. Planners say that the new city will cover an area roughly twice the size of Paris.