ASX Company News: UGL Limited Secures New Contract In Saudi Arabia

March 31st, 2011Jeff

UGL Limited (UGL) announced it has signed an integrated facilities management and property services joint venture (JV) agreement in the Kingdom of Saudi Arabia (KSA) with a leading diversified engineering company, National TriGeneration CHP Company. The initial scope of the NTCC-UGL JV will focus on providing integrated facilities management services and property services to government and private sector clients across the Kingdom of Saudi Arabia. There is provision for the JV to extend this scope to provide engineering related services.

UGL’s Managing Director and CEO, Richard Leupen, said: “The joint venture with NTCC will provide UGL with a platform for growth in the Kingdom of Saudi Arabia and will significantly strengthen and extend UGL’s presence in the Middle East where it has been providing integrated facilities management and property services in the State of Qatar since 2007. The Chairman of NTCC, HRH Prince Saud Bin Fahd Bin AbdulAziz Al-Saud, said: “We are delighted to be partnering with UGL in this joint venture. They are a proven and successful property services company with a strong international presence and possess an excellent track record in the Middle East. The combined skills of NTCC and UGL will ensure we deliver the best outcome for our clients.”

The Kingdom of Saudi Arabia is the largest market in the Middle East by GDP with significant property and infrastructure related expenditure forecast in the coming years. The JV will commence operations in June 2011.

UGL Limited (UGL) is an engineering, maintenance and facilities management company operating in the water, power, transport, communications, resources and property sectors. It consists of four divisions – UGL Infrastructure, UGL Rail, UGL Resources and UGL Services. Headquartered in Sydney, Australi a, UGL Limited operates in Australia, New Zealand, Asia, North America and the Middle East employing approximately 44,000 people. National TriGeneration CHP Company (“NTCC”) is a closed joint stock company and total energy service provider specializing in cooling, heating and power systems. Headquartered in Riyadh, Kingdom of Saudi Arabia, NTCC is authorized by the Electricity and Cogeneration Regulatory Authority.

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