Rosatom MENA and Sumou Holding Company sign Memorandum of Understanding
On May 15, 2018 in Sochi, within the framework of the X International Forum “ATOMEXPO 2018”, Rosatom MENA, the regional center of ROSATOM in the Middle East and North Africa, and the Saudi-based Sumou Holding Company, one of the world’s largest specialized energy and construction companies, signed a Memorandum of Understanding (MoU) aimed at furthering cooperation between the two parties across several key directions.
The document was signed by the Director of Rosatom MENA, Alexander Voronkov, on Russian side, and the Chief Executive Officer of Sumou Holding, Saeed Salem Al Nahdi, on the Saudi side.
The document paves the way for exploring opportunities for cooperation between two companies across a wide range of areas of expertise, such as implementation of wind power generation projects, including construction and maintenance of wind farms in Saudi Arabia; supply of security systems for infrastructure facilities; supply of isotope products for non-destructive testing and other uses, supply of pumping equipment for municipal and industrial use and possible local set-up in Saudi Arabia and similarly for other areas of mutual interest.
Alexander Voronkov commented, ‘We welcome MENA countries’ decisive steps towards adopting innovative technologies that further the region’s economic, scientific and technical development, and are optimistic that this MoU will enable us to expand our cooperation in areas where we have accumulated expertise and experience. We are happy to have Sumou Holding, a remarkable player in energy and construction market, as partner and feel confident that our cutting-edge solutions will meet with significant demand and find useful applications in MENA markets.’
On the other hand, Saeed Al Nahdi stated that the vision of 2030 of Saudi Arabia encourages international partnership to accelerate development in targeted sectors. Our collaboration with Rosatom is aimed towards achieving goals under this ambitious plan of the kingdom in energy, technology and industrial advancement.
Rusatom International Network is a non-profit organization within the ROSATOM structure, that meets the challenges of developing and managing a network of foreign regional centers. The company’s structure incorporates 11 regional centers. The main tasks of the company and the regional centers include business development, promotion of Russian nuclear industry’s products and services on the global market, as well as ROSATOM international communication support. One of the main functions of the company is the coordination of foreign economic activities of enterprises in the ROSATOM structure. Rosatom MENA opened in 2016, based in Dubai, UAE.
Sumou Holding is a world-class holding group and institutional investor that focuses on creating growth in business sectors strategically important to Saudi Arabia’s future. Sumou Holding’s success is powered by successful subsidiary companies such as Sumou Real Estate – a concern that revolutionised successful large project planning, management and delivery in the Kingdom. Sumou Holding Company brings together in capital, international expertise and local market knowledge to spur business growth local markets. It is adept in assembling consortiums of capital, local managerial expertise and international best practice to mobilise investment vehicles in response to regional opportunities. Today, Sumou Holding Company is engaging with most of the industry sectors essential to Saudi Arabia’s long-term success – including real estate, construction, energy, mining and renewables.