CATEGORIES: Nigerian Property Markets

Dangote and Saipem to Enter Construction Joint Venture

In a statement released last week, Saipem and the Dangote Group announced they would be entering into a joint venture to create a new company named Saipem Dangote E&C (Engineering and Construction). The JV is intended to be a significant new player in the Nigerian and Central/West African market, aiming to secure complex Engineering & Construction projects and ensuring a realization capacity focused on efficiency in terms of costs, timing, and flexibility.

The Dangote Group is an African industrial conglomerate owned by Africa’s richest man, Aliko Dangote, while Saipem is a large Italian business controlled by Eni that operates in the Engineering & Construction and Drilling businesses.

The Saipem and Dangote Group collaboration hopes to draw benefit from Dangote’s financial strength and standing in the sub–Saharan African market, where it has launched a significant oil and gas investment program while being complemented by Saipem’s capabilities and track record in Engineering & Construction.

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