Dagang NeXchange Berhad (DNeX) has entered into a joint-venture agreement (JVA) with Ajlan & Bros Holding Group to establish a joint-venture company (JVCo) in the Kingdom of Saudi Arabia (KSA).
The establishment of the JVCo is poised to undertake the business of systems integration in smart cities and large enterprise projects in the Middle East and North Africa (MENA) as well as projects within Ajlan & Bros Holding and its subsidiaries.
Under the JVA, Ajlan & Bros Holding will be responsible for jointly bidding on KSA smart city projects with DNeX, as well as its existing large enterprise projects.
Meanwhile, DNeX will be responsible for the design, supply, delivery, installation, testing and commissioning of information and communication technologies (ICT) infrastructure and applications. In addition, DNeX will provide subsequent maintenance of the ICT infrastructure and applications while providing service delivery management to oversee its project deliverables.
The JVA is a follow-through from the Collaborative Framework Agreement (CFA) between DNeX and Ajlan & Bros Holding signed in August 2022 to form a JVCo in KSA. This joint venture is a complementary combination of DNeX’s technical know-how and Ajlan & Bros Holding’s regional know-how whereby DNeX will be able to export its knowledge and technical capability to the MENA region with the assistance of Ajlan & Bros Holding’s widespread and strong network with the authorities, financial institutions and government linked entities in that region.
According to Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, the JVCo will further cement DNeX’s global presence, leveraging the strong network of influence of Ajlan & Bros Holding to undertake various mega infrastructure projects in KSA and MENA markets.
“We will utilise our in-house digital capabilities to drive KSA’s smart cities projects, riding on our reinforced partnership with Ajlan & Bros Holding. This will also enable DNeX and its Group of companies to deploy home-grown technologies and facilitate KSA’s urban transformation projects, catering to the overarching objectives of Saudi Vision 2030,” he said.
“Through Ajlan & Bros Holding, DNeX Group of Companies is already registered as one of the vendors participating in the NEOM project and we expect to work closely in growing the capability of the JVCo with the full support from both DNeX and Ajlan & Bros Holding,” he added. NEOM is a planned smart city in Tabuk Province in north-western KSA.
From his side, His Excellency Ali Alhazmi added, “The Kingdom of Saudi Arabia is witnessing an unprecedented development of smart cities and mega projects which require localising needed expertise through a joint venture between Ajlan & Bros Holding and DNeX in this field.”
