Saudi energy services firm Arkad forms joint venture with ABB

Dubai

SAUDI energy services company Arkad, which is building a nationwide pipeline network for oil giant Saudi Aramco, will expand outside the kingdom in a venture with ABB Ltd that opens the doors to business in North Africa and the Gulf region.

Arkad signed a deal to acquire a majority stake in a new joint venture with ABB's oil and gas engineering, procurement and construction (EPC) unit, managing director Hani Abdelhadi said in an interview. The projec…