Salam International Plans Five Joint Ventures

Doha, December 10 (QNA) - Salam International Investment Limited (SIIL) has announced joint venture with five international companies as part of its business expansion plans. Among the five companies two are from Saudi Arabia - SAS Engineering Systems Saudi Arabia and Jeddah-headquartered Baud Telecom Company (BTC) Networks for a project to unifying efforts in information technology applications and low-voltage Contracting. The other three are British company ShiftPoint, UK's fastest growing IT delivery company, Singaporean company Keppel Seghers for a tire recycling project and Monaco headquartered multinational company the Unaoil Group, an engineering, procurement and company that provides a diverse range of oil and gas services in the Middle East, Central Asia and Africa. The planned joint venture with ShiftPoint aims at focusing on project management and provide value-added services for the managed projects. SIIL took these decisions at its Board of Directors' meeting held here on Sunday, a Qatar Exchange bulletin said Monday. However, these joint venture decisions taken by the SIIL Board of Directors have only preliminary approval, subject to the results of feasibility studies. This is to safeguard the interest of shareholders, SIIL said. (QNA)