The Saudi Authority Holding Company continues its investment in the British Insure Space Company


The device for Contracting and Trading, a subsidiary of the device holding group, revealed that it has acquired the assets, intellectual property and management systems of Insure Space Ltd. the world.
The acquisition deal includes the establishment of a new joint entity, aiming to act as a leading provider of marine construction management and intervention services at the bottom of the sea, and relying on the company’s acquired private assets, in addition to its extensive previous experience and record of successful projects globally, to contribute to the Kingdom’s plans to generate 58.7 gigawatts of energy. Cleanliness by 2030 within the framework of Saudi Vision 2030.
Commenting on this topic, Sami Saeed Al-Anqari, Vice Chairman of the Board of Directors of the Authority Holding Group, said, “The acquisition deal allows Insure Spacy to benefit from the technical and financial expertise of the Agency for Contracting and Trade, which for several years maintained its position as a leading provider of energy and manufacturing services at the local level. It also enhances the ability of the device for contracting to provide competitive, flexible and diversified services to cover projects around the world and the Kingdom, in line with the Kingdom’s 2030 vision and paving the way for enhancing the group’s participation in this field.
Insure Space’s new headquarters will be located outside the existing operational facility at Port Blythe in the United Kingdom, which is ideally located to service the booming offshore wind market in Northern Europe with a skill base to facilitate the supply of services to the international market for work on the seabed. The company provides a range of services, including subsea engineering and construction management, supplying skilled manpower, renting subsea trenching equipment, interfering with the seabed, developing technology for seabed tools, as well as installing flexible subsea products. The joint entity also draws on the expertise of Insure Space’s current management and operating teams.
Pierre Boyd, General Manager of Insure Space, said, “We are happy to cooperate with the device company to advance the company’s development forward, based on a sustainable cost base, renewable energy sources and a fundamental focus on our areas of expertise, as we aim to become the best choice in supporting Seabed intervention projects around the world.
The recent acquisition of the Holding Authority Group supports its strategic ambitions to occupy a pioneering position in the field of new and clean technologies, and it follows multiple investments in solar and wind energy stations in different regions of the world. The group also holds to its credit many projects in the field of smart meters, the Internet of things and energy efficiency in the Kingdom in recent years.


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