Yousuf Bin Ahmed Kanoo – one of the Kingdom’s largest diversified companies and Larsen & Toubro Ltd., (L&T), India’s leading Engineering & Construction company signed a SR 56.4 million joint ventures for the production of high end intelligent electrical system.

            The Joint Venture will be producing ebswitchgear and electrical automation systems for use in oil, gas, refineries, petrochemical, infrastructures and power projects.

            The location of the Plant will be second Damman’s Industrial City and the production will start by the year 2007. The Plant initially will give employment to 200 personnel including Saudis.

            The Joint Venture Co. is names as L & T Saudi Arabia. The production capacity for the first year will be 1000 switchgear panels and gradually to increase to 10,000 panels.

            Production will be supplied first to Saudi Market and then to Gulf market. Expected annual demand for GCC Countries is estimated to 100,000 panels.