This joint venture will leverage the combined strengths of both organisations to serve the rapidly expanding mining market in Saudi Arabia. Weir will bring its extensive expertise in sales and sustainable mining technology solutions, while Olayan Saudi Holding Company will contribute its knowledge of Saudi business and deep localisation experience to the endeavour.
Weir will take the lead on sales, technical, and product responsibilities, while Olayan Saudi Holding Company will focus on new business development, capitalising on its strong presence and knowledge of the regional market.
Jon Stanton, CEO of Weir said: "Mining is a core economic pillar within the Kingdom of Saudi Arabia’s Vision 2030 and our joint venture will enable us to support the Kingdom’s rapidly expanding mining industry with our market-leading technologies."
Andrew Neilson, Minerals Division president at Weir, explained: “Weir has built significant business in Saudi Arabia over the last 20 years and we’ve developed strong relationships with the key local mining players. With a strong outlook for growth, this joint venture is the next strategic step in our journey in the Kingdom.”
Salih Merghani, executive vice president for Energy Services at Olayan Saudi Holding Company, added: "This joint venture marks a significant milestone in our commitment to increasing local content within the value chains of the Kingdom's rapidly expanding mining industry."
