Air Products agrees industrial gases JV in Saudi Arabia

17 October 2012 19:26  [Source: ICIS news]

HOUSTON (ICIS)--Air Products has signed an agreement to form an industrial gases joint venture (JV) in Saudi Arabia, the US-based firm said on Wednesday.

Air Products said that its joint venture with The Arabian Company for Power and Water Development (ACWA Holding) will focus on large-scale industrial gas opportunities in Saudi Arabia.

“Our new venture with ACWA complements Air Products' existing presence in Saudi Arabia and the GCC [Gulf Cooperation Council], providing a strong platform to further grow our business there by partnering with prime Saudi industrial investors and developers, such as ACWA," said Howard Castle-Smith, Air Products' regional vice president -Tonnage Gases Europe and Middle East.

ACWA owns and develops facilities in fields such as power generation, water desalination and treatment, sewage water treatment, district cooling, and waste management.

Financial terms were not disclosed.

By: Stefan Baumgarten
+1 713 525 2653

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