01 December 2016

Saudi oil giant Aramco has shortlisted four companies to help it manage the non-oil construction projects.

These are Canada’s SNC-Lavalin, US-based Jacobs Engineering, Faithful & Gould, a part of UK-headquartered Atkins, and Dar Al Handasah Consultants, reported Bloomberg, adding that Aramco plans to set up the project management joint venture early next year.

Saudi Arabia plans to transform Aramco from an oil and gas company into an industrial conglomerate to prepare the kingdom’s economy for the post-oil era, Deputy Crown Prince Mohammed bin Salman had said in March.

The plan also includes selling a stake in the company and transforming its ownership to the kingdom’s sovereign wealth fund.

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