OMAN JV MOOTED FOR GE

Dino D'Amore
By Dino D'Amore December 19, 2010 11:53

OMAN JV MOOTED FOR GE

General Electric (GE), which already has a sizable presence in three Gulf countries, has suggested it is considering partnering with Oman for a joint venture.

President and CEO, GE in the Middle East & Africa, Nabil Habayeb, told Oman media that the country was “extremely important” for GE and “since Oman is investing heavily in infrastructure facilities like power, it is an opportunity for GE to form a joint venture to tap business opportunities.”

Habayeb said that as much as $6.4 billion of GE’s $157 billion revenue came from the Middle East region in 2009. “This represents a good portion of our industrial business,” he said.

“We have invested in technology centres in the region,” said Habeyab. “As much as $50 billion has been invested by the company for technology development (across the world) this decade.”

Dino D'Amore
By Dino D'Amore December 19, 2010 11:53
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