DENZAI and FTE Logistics establish JV to provide integrated construction services in Saudi Arabia

DENZAI Arabia Co. Ltd., a wholly owned subsidiary of DENZAI K.K. a global provider of heavy lifting, transportation, and construction services, and FTE Logistics, a major local port and heavy lifting company, are establishing a joint venture company in Saudi Arabia.

A signing ceremony was held in Dubai, UAE on February 12 (Monday), local time, to mark the establishment of this JV.

Since the establishment of DENZAI Arabia Co. Ltd. in Jubail, Saudi Arabia in 2023, DENZAI Group has received many inquiries about wind power construction, crane operations, and heavy lifting operations in the region. By establishing a 50-50 joint venture with FTE (Fawaz Ali Alshammari Co. ), a major local port and heavy lifting Saudi-owned company in Saudi Arabia with a history of more than 25 year, they will be able to provide a stable supply of high value-added services. The JV is expected to be completed by June 2024.

Kohki Uemura, CEO of DENZAI K.K., commented “The establishment of this joint venture with FTE Logistics, which has more than 25 years of experience in heavy lifting in Saudi Arabia, will enable us to provide integrated construction services in Saudi Arabia and the Middle East, from port transportation to installation work at project sites. In this country, large-scale projects are underway to break away from dependence on oil, and we hope to contribute to the optimization of these projects by combining the management resources of the DENZAI Group and FTE Logistics.”

Fawaz Alshammari, CEO of FTE said “The JV with DENZAI, an international leader in wind farm and power plant installation, will enable the two companies to provide a world class service to the regional market. By teaming up with Denzai, FTE believe we can elevate the service standards within the industry.”

With the conclusion of this JV, FTE will hold a preferential use agreement that will give it preferential access to DENZAI. Source: DENZAI