Tiong Woon Corporation chairman Ang Kah Hong (right) with Meshari Al-Khaled, SAGIA’s Country Director for its Singapore office
Tiong Woon is an integrated services provider for the oil and gas industry, and is a specialist in heavy lift, and installation of process equipments. The company is currently ranked 11th largest crane owning company worldwide by International Cranes, a reputed trade magazine, in its IC50 2006 survey.
Tiong Woon group chairman and managing director Ang Kah Hong said: “This is a very significant achievement for our company and we are grateful to SAGIA for granting us this investment licence. We are optimistic that the Saudi Arabian market will continue to stay buoyant and we plan to have a dynamic presence there.” SAGIA is the Saudi Arabian General Investment Authority.
“Saudi Arabia, with its projected activity in oil and gas, will be one of the company’s key markets going forward and will form an integral part of TWC’s Middle-East strategy.
“We are now well-positioned to make inroads into the booming oil and gas sector there, as well as springboard into the region. Not only are there abundant opportunities in Saudi Arabia itself, but with a regional base there, it would be much easier for us to explore business opportunities in the neighbouring countries there. Over the longer term, TWC hopes to progressively build a fleet size of 50 to 100 units of heavy lift equipment to cater to the Middle East market.” he added.
In particular, Ang mentioned the countries that, together with Saudi Arabia, form the Gulf Cooperation Council (GCC), namely, Kuwait, Bahrain, Qatar, the United Arab Emirates and the Sultanate of Oman.
TWC plans to replicate its Singapore presence in Jubail Industrial City in Saudi Arabia, Ang said. Jubail Industrial City is expected to be one of the world’s largest petrochemical complexes, according to the company.
