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NEW JOINT VENTURE : ETE - SGP Arabia
Posted by Administrator (admin) on 12/02/2011
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A new Joint-Venture Agreement has been finalized and signed by and between two major companies, Eastern Trading and Contracting Group (ETE) of Saudi Arabia and Spanish Gulf Project (SGP) of Spain. A formal signing session took place at the headquarters of SGP in Spain, on 10th Sept. 2009, after months of rigorous study process.

A key player in Saudi Arabia’s construction industry, ETE Group has consistently earned positive remarks upon review of its accomplishments direct from its main clients.

Due to its diverse business portfolio, ETE Group was able to ride the wave of economic growth that Saudi Arabia has experienced for the last five years, by aggressively participating in activities within the construction sector; despite the economic downturn that hit the major economies of the world.  Thus, ETE Group continues to solidify its position by increasing its capacity to compete in major singular, industrial, residential and commercial projects in Saudi Arabia and the GCC region.

Similarly, the Spanish Gulf Project (SGP) formed by the merger of three Spanish groups namely: Sanchez Y Lago, Grupo Moises Alvarez, & Procoin, heeds the call towards globalization and business diversification to be able to compete globally. This bold move was driven by a general deceleration of activities within the construction sector in Spain. Given the situation, it therefore, needed to re-position itself with strategies in order to remain abreast in the global business competition.

The union of these two business groups, has resulted in the creation of SGP ARABIA, a company for the future, where ETE will provide mainly, construction expertise, knowledge of the market, and its personal contacts while SGP as an important added value, its “know how”, innovation, and specialization.

SGP ARABIA Business Principles lie within these 4 Fundamental Values; Experience, Financial Solvency, Confidence, and Commitment.

SGP ARABIA intends to follow the trail less trodden by many, thru categorizing itself as Main Contractor or Sub-Contractor, and to keep away from all types of works that are commonly carried out by majority of the players within this sector.

Achieving these goals is a daunting task ahead, thus, our resources and energies will be focused on the following target projects: residential and non-residential buildings, infrastructures, environmental works, industry and the like.

Having fully equipped with all the necessary tools and decisive principles, SGP ARABIA takes off the business with high level of positive outlook for its future.

Last changed: 12/02/2011 at 3:16 AM