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FINANCIAL NEWS
US GE Oil & Gas launches Saudi multi-million facility
10 Nov 2015
(MENAFN) American GE Oil & Gas has finished the first phase expansion of what will be GE’s biggest advanced manufacturing facility in the region, located in Saudi Arabia, as reports showed.
The 10,500 sqm facility marks the first phase of an ongoing massive multi-million dollar investment by the multinational GE Oil & Gas in a country that offers tons of fair opportunities for lucrative investments.
This will promote job creation for Saudi nationals through a three-fold rise in the work force, plus enhancing the capacity of the current manufacture of advanced pressure control technology.
The development forms part of GE’s commitment to reach the aim of 70 percent localization in the Kingdom through firming local manufacturing, talent development and service capabilities.
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