GE, Ali Abdullah Al-Tamimi & Co. form joint venture in Saudi Arabia
GE Power Systems of the United States and Ali Abdullah Al-Tamimi & Co. of Saudi Arabia have formed the Middle East Power Co. (MEPCO), a joint venture to manufacture gas, steam turbines and associated spare parts in Saudi Arabia.
MEPCO will be 51 percent owned by Ali Abdullah and 49 percent by GE. It will be based in First Industrial City, Dammam, Saudi Arabia, where the partners are building a manufacturing plant. First shipments from the plant are expected in 1996.
Ali Abdullah is one of Saudi Arabia`s major industrial groups and has partnered with GE for many years in several business areas. Saudi Arabia is considered an attractive market for generation equipment sales.