Launches a 100-seater delivery centre in Al Khobar; looks at significantly localizing workforce, technologies to service KSA market
Al Khobar/Hyderabad, 04 January 2017: Tech Mahindra, a specialist in digital transformation, consulting and business re-engineering and Midad Holdings, a part of diversified business conglomerate Al Fozan Group today announced the launch of a Joint Venture, Tech Mahindra Arabia Ltd. The JV company in which Tech Mahindra holds majority stake would cater to the market in the Kingdom of Saudi Arabia (KSA).
Part of well-respected business conglomerate Mahindra & Mahindra, Tech Mahindra has been present in the KSA since 2006, catering to over thirty active customers in the kingdom. Some of the prominent customers in the country include the largest oil & gas company, major petrochemical companies, one of the largest manufacturing group, leading banks and telecom companies. The decision to set up a local joint venture company aligns very well with Tech Mahindra’s vision of offering localized technology solutions by building a strong local presence and thus contributing to the local economy.
“As a global company, we are driven by the philosophy of ‘think globally and act locally’. Al Fozan Group is a well-respected brand not just in the KSA but in the entire GCC and Middle East. Through our JV with the Group, we will work towards localizing technologies and building local services thus adding value to the local economy,” said C P Gurnani, CEO & MD of Tech Mahindra.
Tech Mahindra has a combined presence of over 1600 associates in the KSA including the team that came with the acquisition of LCC in November 2014. Tech Mahindra Arabia Ltd, the joint venture, has also set up a 100-seater delivery centre in Al Khobar and is looking at majorly hiring local talents for the centre.
“As a company, we have been significantly investing in technologies such as artificial intelligence, machine learning, automation and Internet of Things (IoT) which are expected to shape the future of the world. While we will actively work with the clients in Saudi Arabia in solving their business problems by bringing these technologies, we would also hire more local citizens in Saudi Arabia and provide them with the necessary training and attractive career paths thus building a strong base in the country,” added Gurnani.
Headquartered in Al Khobar, the Eastern province of Saudi Arabia, Al Fozan Group is one of the most successful and respected conglomerates in the region with operations across the Gulf Cooperation Council (GCC) and Middle East. Led by a talented team of professionals, Al Fozan Group has evolved and diversified over the years to become one of the fastest growing regional success stories. The group has not only positioned itself as a dominant player in segments like Retail, Manufacturing, Real Estate and Trading, it is well-known for its approach towards corporate social responsibility (CSR) activities.
“We are extremely pleased to partner with a well-respected technology brand like Tech Mahindra to launch this JV. As a leading business group in the region, it has been our mission to offer reliable products and services to Saudis and I am sure with this JV, we will be able to offer best-in-breed technology solutions to the enterprises and organizations in the region with the help of a reliable technology brand like Tech Mahindra,” said Abdullah Al-Fozan, Managing Director of Al-Fozan Holding.
Added Mohammed Albaadi, Managing Director of Midad Holding: “Technology is changing the way the industry operates today and people interact with their governments. With Tech Mahindra Arabia, we are not only looking at a lasting relationship with Tech Mahindra, we are looking at complementing their expertise and strength to solve complex problems in the region with the use of technology.”
Midad partners with international companies in diverse industries that offer products and/or services with enabling technologies.
Said Ram Ramchandran, General Manager & Head – MEA, Tech Mahindra: “Tech Mahindra Arabia. Ltd. is a testament of our faith in KSA region which is expected to see rapid digitalization in coming years as a part of the Vision 2030. As a leading Digital Transformation specialist, Tech Mahindra would immensely contribute towards helping the kingdom achieving this vision.”
About Al Fozan Group & Midad Holding
Al Fozan Group is a leading conglomerate with operations throughout the Middle East. Led by a talented team of professionals, Al Fozan Group has evolved and diversified over the years to become one of the fastest-growing regional success stories today. Through a number of subsidiaries, the Group is a leading player in retail, manufacturing, real estate and trading while its approach to corporate social responsibility puts the group on an even footing with the world’s best.
Midad Holding is the energy & information technology arm of the Al-Fozan Group. Midad has a very strong portfolio of specialized companies serving the oil & gas, petrochemical, power, water, banking, telecommunication and Saudi government entities.
Certain statements in this release concerning the future prospects of Tech Mahindra Limited (“the Company” or “TechM”) are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company’s actual results differ materially from such forward looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.