Chart Industries, Inc. has announced that Abahsain Specialized Industrial Co. Ltd. (ASIC), a joint venture in which Chart's Energy & Chemicals business (Chart E&C) participates, has opened its manufacturing facility in Dammam, Saudi Arabia.
The state-of-the-art, 85,000 square foot facility will manufacture air cooled heat exchangers to support the region's energy and petrochemical industries.
$quot;Air cooled heat exchangers are required for various processes in the production and refining of oil, gas, and petrochemicals in the Middle East,$quot; stated Mike Durkin, President of Chart E&C.
$quot;Until now, this equipment and replacement parts had to be imported into the region,$quot; he added.
$quot;ASIC has significant technical engineering and design capabilities, and the new facility can provide the complete manufacturing of standard and customized air cooled heat exchangers, thus greatly reducing the cost of shipping each unit and improving the speed of delivery to the marketplace.$quot;
The ASIC joint venture was formed in 2008 and has a growing list of customers, including Saudi Aramco.
$quot;Qualifying as a supplier for Saudi Aramco requires a rigorous auditing process to meet high construction standards. Winning their approval is an honor for us,$quot; Durkin acknowledged.
$quot;ASIC now has the privilege of being the only approved local Saudi manufacturer of air coolers with complete, end-to-end manufacturing capabilities.$quot;
Chart owns a 34% interest in the ASIC joint venture. The other joint venture partners are S&A Abahsain Company of Al-Khobar, Saudi Arabia and Specialized Industrial Equipment of Houston, Texas.
$quot;As the slowdown in the world's economy nears its end and Saudi Arabia gears up for the inevitable upturn, we see great opportunities for ASIC,$quot; continued Durkin.
$quot;These opportunities stem from significant investments expected in the energy, petrochem, and power sectors in coming years. ASIC intends to play a significant role in delivering products to meet the needs in this region.$quot;