Saudi Industrial Development Fund, French company sign deal

Business Bureau, Gulf Today

ENGIE announces the signing of a Memorandum of Understanding (MoU) with the Saudi Industrial Development Fund (SIDF) to develop local talent and enhance the partnership between the two organisations.

The Saudi Industrial Development Fund and ENGIE entered into a Memorandum of Understanding to improve the development of local talent in the Kingdom of Saudi Arabia to meet the demands of the labour market.

The SIDF and ENGIE are together to enhance the efficiency of human capital and catalyse knowledge transfer in line with the objectives of Vision 2030.

The partnership will accommodate for an internship programme where several SIDF employees will have the opportunity to work at ENGIE headquarters in Paris or any of the 70 countries where ENGIE operates.

The internship programme is a 6 month to 1-year programme that will enable several SIDF professionals to work hand in hand, on an annual basis, with ENGIE professionals. The programme will not only support the development of local professionals but also strengthen the ties between the two nations.

‘We are very excited to be working with SIDF on what is one of the most important objectives of the Kingdom: human capacity building. ENGIE is the positive energy partner that will contribute to the Kingdom’s objectives through FDI, job creation, knowledge transfer, and, in this particular case, human capacity development’ said Turki Alshehri, CEO of ENGIE in Saudi Arabia.

ENGIE has been present in Saudi Arabia for decades and is established as one of the largest independent power and water producers in the Kingdom, and as a leader in energy services.

The signing of this MoU forms part of ENGIE’s desire to localise its business as much as possible, by hiring, developing and retaining local talents. To that end, ENGIE Middle East, South & Central Asia and Turkey (MESCAT) launched in 2017, the Leadership Development Program for Nationals, which already benefited to dozens of young professionals from GCC countries.

ENGIE Middle East, South & Central Asia and Turkey (MESCAT) has a regional presence of almost 30 years.

ENGIE is the regional leading independent power & water producer with a gross capacity of 32 GW of power and 5.5 million m3/day of water production. The portfolio includes 1 GW of solar PV and 480 MW wind in India, where ENGIE also provides decentralised solar power to 70,000 customers.

In Turkey, ENGIE has 370,000 customers in gas distribution via IZGAZ and is active in energy retail, trading and origination. ENGIE owns 40 per cent of Tabreed, the regional leader in district cooling which currently delivers over 1 million tonnes of cooling across 75 plants. The Group is also a leading provider of Customer Solutions in the GCC.

Our group is a global reference in low-carbon energy and services. In response to the urgency of climate change, our ambition is to become the world leader in the zero-carbon transition of our customers, businesses and local authorities. We rely on our key businesses (renewable energy, gas, services) to offer competitive turnkey solutions “as a service”.

With our 160,000 employees, our customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress.

As of 2018, ENGIE employs 158,505 people worldwide with revenues of €60.6 billion euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).

ENGIE is a French multinational electric utility company, headquartered in La Défense, Courbevoie, which operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy and Petroleum.  It is one of the few players in the sector to develop expert skills in both upstream (engineering, purchasing, operation, maintenance) and downstream (waste management, dismantling) activities.

The company, formed on 22 July 2008 by the merger of Gaz de France and Suez, traces its origins to the Universal Suez Canal Company founded in 1858 to construct the Suez Canal.

ENGIE is listed on the Euronext exchanges in Paris and Brussels and is a constituent of the CAC 40 and BEL20 indices. ENGIE is headed by Isabelle Kocher, who has strongly transformed the company since 2016, notably by deciding to exit coal activities and by investing massively in renewable energies and energy transition services.