Middle East Economic Survey

VOL. XLVII

No 26

28-June-2004

SAUDI ARABIA

Saudi Al-Rushaid Investment Acquires UK LNG Contracting Firm

Skanska UK announced on 9 June that it had completed the sale of its LNG contracting business, Skanska Whessoe, to al-Rushaid Investment Company of Saudi Arabia. Skanska Whessoes name is being changed to Whessoe Oil and Gas Ltd, registered in the UK with a branch in the Middle East. Whessoe is already carrying out a project worth $132mn related to the proposed Adriatic...