EEI Corp. said Friday it supports Saudi Arabia’s Vision 2030 program, cognizant of the opportunities it would open to the Philippine-listed construction firm and the jobs it offers Filipinos.
Vision 2030 is Saudi Arabia’s masterplan to transform and diversity its economy by weaning it away from over reliance on oil revenue and focusing on future growth industries.
EEI said it is will leverage it reputation of reliability in undertaking major projects as it seeks participation in potential civil, infrastructure, oil and gas developments as Saudi Arabia implements the economic masterplan.
“Saudi is projected to make heavy investments towards construction projects like water systems, treatment facilities, roads, bridges and livable spaces to accommodate the growing needs of its population and the demands of its vibrant economy. Saudi is also beefing up its transportation sector and we are optimistic that EEI will be able to contribute to the infrastructure development of the Kingdom,” said EEI president and chief executive officer Henry Antonio in a statement.
Antonio said that aside from construction work, Vision 2030 will also open other job opportunities for Filipinos as other industries emerge.
In the last quarter of 2023, EEI signed a memorandum of understanding with Samsung Engineering NEC Co. Ltd. in Saudi Arabia to collaborate and work on projects in the country and to further expand overseas work opportunities for Filipinos. Both companies recognize the skills, tenacity, adaptability and resilience of Filipino overseas workers. EEI said.
EEI has been present in Saudi Arabia since 1993 through Al Rushaid Construction Co. Ltd, the joint venture company of Al Rushaid Petroleum Investment Corp. and EEI Ltd, a wholly-owned subsidiary of EEI. ARCC engages in general construction and has participated in various major developments in Saudi Arabia particularly in the construction of refineries and petrochemical plants, power and desalination plants, mining and industrial facilities.
