Wolffkran and Zamil Group seal a strategic partnership in Saudi Arabia

27.11.2024 | News

Following the PIF Private Sector Forum 2024 announcement, Wolffkran Holding AG and Zamil Group Investment Company have entered into a joint venture agreement, finalized on November 18, 2024. This agreement marks the acquisition of a 50% stake in Wolffkran’s local rental and service business, Wolffkran for Equipment. The signing ceremony, held at the Four Seasons Hotel in Riyadh, was honored by board members from both companies, alongside distinguished guests from the Public Investment Fund of Saudi Arabia, the Ministry of Finance, and leading local contractors and developers.
This partnership paves the way for Wolffkran for Equipment to expand its operations by establishing a tower crane manufacturing facility in Saudi Arabia, marking the first-ever foundation for tower crane manufacturing in the Kingdom. The collaboration aims to harness the unique strengths, expertise, and resources of both Wolffkran and Zamil Group to meet the growing demand for tower cranes within Saudi Arabia and the broader Middle East region.
We thank everyone involved for making this milestone possible and look forward to shaping the future together with Zamil Group Investment Company.