Nantong energy company expands market in Saudi Arabia
Lu Yonghua (R), president of Jiangsu Linyang Energy Co, shakes hands with Sultan Alamoudi, chairman of Energy Care Co, at a signing ceremony on Dec 11. [Photo/ntfabu.com]
Jiangsu Linyang Energy Co and Energy Care Co (ECC) signed an agreement to establish a joint venture at the opening ceremony of the 9th Saudi Arabia Smart Grid Conference on Dec 11.
The Nantong-based company partnered with the Saudi Arabian company as early as 2013 and has sold nearly 800,000 smart electricity meters in the country over the past three years.
The partnership has helped ECC take a nearly 60 percent share in Saudi Arabia's electricity meter market and has laid a solid foundation for Linyang to expand its overseas market.
The joint venture is expected to create new jobs for locals and inject momentum into Saudi Arabia's energy industry.
Linyang will also use the opportunity to increase its market share in the Middle East and promote cooperation with more countries involved in the Belt and Road Initiative.
During the conference, which ran from Dec 10 to 12, Linyang also cooperated with Spanish internet service provider Indra to display a wide range of communication solutions, including a new-generation of the V8.0 smart electricity meter.
Saudi Arabia's energy departments have expressed approval for Linyang's high-quality products and services.