Louis Berger Power and KFB Holding Group announce joint venture to support innovative power projects in the KSA
Louis Berger Power formally announced a joint venture with Riyadh-based KFB Holding Group through a memorandum of understanding (MoU) signed at the Saudi-US CEO Forum, held in New York City on March 27.
Frank Jordano, PE, of Louis Berger, and Sheikh Khalid Al-Boayz, of KFB Holding Group signed the MoU in a ceremonial event recognizing the newly formed joint venture (JV): Louis Berger Power KSA. The MoU recognizes the shared objective of Louis Berger Power and KFB Holding Group to offer power engineering, procurement and construction (EPC) services in the Kingdom of Saudi Arabia (KSA), offering new ideas and power technologies for greater efficiency, productivity and outreach in remote and off-grid locations. The JV’s capabilities span traditional and modular fuel-burning power plants, electrical distribution, renewable power, and smart grid technology.
“We’re honored and pleased to partner with KFB Holding Group, a company that has been a key driver in the development of industrial manufacturing capacity in Saudi Arabia for over 30 years,” said Alaa Abdul “Alex” Samad, Louis Berger Power Middle East/Africa regional director. “This strategic partnership is crucial as we continue to strengthen our ties with the KSA through a synergistic EPC power team that offers Solutions for a better world.”
Louis Berger Power KSA operates as an EPC power projects contractor to provide reliable and optimal power solutions and services in remote and off-grid locations. The joint venture combines one of the world’s premier infrastructure engineering and program management firms, Louis Berger, with KFB Holding Group, a Riyadh-based, family-owned business providing ISO certified electrical equipment manufacturing, contracting, construction and industrial services.
More than 200 business leaders from the US and the KSA attended the second annual Saudi-US CEO Forum, where they signed 36 MoUs worth $20 billion — all in conjunction with the visit of Saudi Arabia’s Crown Prince Mohammed bin Salman to the US. The theme of the event was “An Era of Transformation from Vision to Implementation,” and the focus was to strengthen trade, bolster economic ties and promote cultural awareness between the US and the KSA. It featured round-table discussions, panel sessions and a business exhibition that highlighted the existing projects underway aimed at achieving the KSA’s development and economic goals for 2030.