Italy's Saipem S.p.A. disclosed Wednesday that it has entered into a Joint Venture with Dangote Group, one of Africa’s leading companies, to create a new company named Saipem Dangote E&C. Saipem Dangote E&C is a significant new player in the Nigerian and Central/West African market, with high technical and financial capabilities. It aims to secure complex Engineering & Construction projects and ensure a realization capacity focused on efficiency, in terms of costs and timing, and flexibility, in order to respond to different needs related to specific projects, to local content and to the Country’s context.
Saipem and Dangote Group have a track record of successful collaboration, drawing on the strengths and competences of both Companies. The new JV will benefit from Dangote’s financial strength, expertise and standing in the sub-Saharan African market, where it has launched a significant oil and gas investment program, complemented by Saipem’s unique capabilities in E&C, to develop new business.
This new partnership confirms the shared commitment of the two groups to both the Nigerian market and sub-Saharan Africa more widely. Saipem has been conducting operations in Nigeria for over 50 years. Saipem Contracting Nigeria Ltd operates principally as an Engineering, Procurement and Construction (EPC) contractor for the execution of turnkey projects including oil, gas and water pipelines, oil, gas and industrial plants, infrastructures, fabrication of offshore structures and maintenance services.
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