GE Vernova acquires Dussur’s shares in General Electric Saudi Advanced Turbines

02/09/2024 ِArgaam
Logo ofThe Saudi Arabian Industrial Investments Co. - Dussur

Logo of The Saudi Arabian Industrial Investments Co. - Dussur

The Saudi Arabian Industrial Investments Company (Dussur) successfully divested its 55% ownership stake in General Electric Saudi Advanced Turbines (GESAT) to GE Vernova Inc. (NYSE: GEV), bringing GE Vernova’s ownership to 100% in GESAT, according to a statement.
 

GESAT is a successful joint venture that is supplying gas turbines and has manufactured more than 200 gas turbine modules to support power generation plants in up to 10 countries around the world, including Saudi Arabia.
 

Since its establishment in 2017, GESAT has played an important role in meeting the Kingdom's demand for gas turbines, specifically through the localized completion of high-performance F-class and H-class gas turbines, and the manufacturing of post cast components and accessory modules.

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