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Published Jun 18, 2008
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CDI Engineering Solutions, a division of CDI Corp., Philadelphia, (NYSE: CDI) has entered a joint venture with Emtiaz Engineering & Energy Holding Co., a subsidiary of Safat, Kuwait-based investment firm Al-Imtiaz Investment Co., to form CDI Gulf International, a Kuwait-based engineering, procurement and construction management firm.
The firm will develop oil and gas, chemical, power, water development and infrastructure projects in Kuwait, Qatar and other Gulf Cooperation Council countries.
CDI Gulf will be owned 51% by Emtiaz and 49% by CDI.
Emtiaz president and chief executive Issa Al-Own says, “In order to meet the highest standards of performance and carry out these complex industrial and infrastructure projects that are vital to the local economy of Kuwait and the region, we required a multi-faceted international engineering firm that could bring the specific expertise and state-of-the-art technology to Kuwait and the GCC markets.”
CDI president and CEO Roger Ballou says, “CDI's expertise in cutting-edge technology tools such as SmartPlant computer aided design and 3-D laser imaging as well as our flexibility to source world-wide engineering talent will allow us to provide a competitive advantage to the alliance which will be offered to local industry. We look forward to growing our international presence with this venture and the opportunity it presents to participate in the over $450-billion oil and gas, energy, water and infrastructure spending in this marketplace that is forecast through 2015.”