A joint venture (JV) agreement was signed between Injazat, the UAE's home-grown technology champion in digital transformation, and Nesma Infrastructure and Technology (NIT), a leading provider of high-quality solutions for communication technology, power systems, and energy infrastructures in Saudi, to provide key digital services across Saudi Arabia as the Kingdom undergoes rapid digital transformation.
The newly established joint venture, called 'Nesma Injazat', will begin operations this month with offices in Riyadh and Jeddah. In the presence of Mansoor Al Mansoori, Chairman of Injazat and Faisal Alturki, Chairman and President of Nesma; Ussama Dahabiyeh, CEO of Injazat, and Salah Al Sunaid, CEO of NIT, formalized the agreement during a signing ceremony at GITEX Global, currently taking place at Dubai World Trade Centre.
The new company will offer services that include enterprise applications, cloud infrastructure, and cyber defense laying the groundwork for Saudi Arabia's next generation of technology-driven economic growth. Injazat's expertise and proven track record in building agile, bespoke industry solutions combined with Nesma's market experience and customer knowledge, is set to fast-track the Kingdom's digital economy goals by co-creating transformational digital platforms and services through public-private partnerships (PPP).
Nesma Injazat will play a critical role in supporting organizations across various sectors that include healthcare, smart cities, energy, and construction across the Kingdom, developing its IT and digital infrastructure with a three-year expansion plan for each.
Commenting, Ussama Dahabiyeh, Chief Executive Officer at Injazat, said: "It gives me great pleasure to announce our joint venture with Nesma Infrastructure & Technology which will become a catalyst to developing our businesses and supporting the Kingdom as it pursues an ambitious digital transformation plan. We have been waiting for the right opportunity to expand into Saudi Arabia to make an impact by solving complex industry problems and helping them realize their business goals faster. Nesma shares a strategic innovation mindset with Injazat, and so has proven to be a natural partner for this opportunity. Together, we will be actively driving and pioneering the future technology landscape of Saudi Arabia."
Salah Alsunaid, CEO of NIT said: “For the past 40 years, NESMA has been at the helm of multibillion dollar projects helping build the Kingdom’s most ambitious and challenging projects ranging across various sectors including construction, energy, aviation, and of course infrastructure, and technology solutions. Combined with Injazat's expertise and innovation our joint venture will add momentum towards realizing Crown Prince Mohammed Bin Salman’s ambitious Vision 2030 goals.”
Injazat and Nesma have appointed Gianluca Meloni as the interim CEO of the JV "Expanding to Saudi Arabia has been a long-standing ambition for Injazat, and we are delighted to announce this partnership with Nesma Infrastructure & Technology. Having many customers across the Public Investment Fund's investment projects, Nesma's reputation as a key market player is outstanding. By combining the technical in-depth and service capabilities of Injazat and Nesma, the venture will build operational resilience and reimagine new business models to help our customers digitally transform their businesses. I’m very grateful for the opportunity as we continue to expand across reginal markets and diversify our product offering, this is definitely a move in the right direction. We have new goals and ambitions which we can achieve with our newly established Joint Venture.
Accelerating digital transformation is one of the key pillars of Saudi Arabia's National Transformation Program, outlined in Vision 2030. The sector is growing at a rapid pace in the Kingdom with spending on digital transformation initiatives reaching $3.19 billion per year in emerging technologies, open-source government software, and cloud computing solutions.
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