Bajel Projects Ltd has announced the signing of a joint venture (JV) agreement with a leading EPC contractor and manufacture in Saudi Arabia.
In a release, Bajel said that the JV agreement was signed with Al Sharif Contracting and Commercial Development Company (ASC), which is part of Al Sharif Group Holdings, and a leading EPC contractor & manufacturer in the Kingdom of Saudi Arabia.
This partnership marks a significant milestone in Bajel’s international expansion strategy, positioning the company to participate in the significant infrastructure transformation currently underway in the Kingdom of Saudi Arabia, the release said.
JV details
The proposed joint venture, expected to be formed in 3-6 months, will have equal shareholding by the two partners – Bajel Projects and ASC. Each partner will contribute up to SAR 1 million in the joint venture. (This works out to around Rs.2.42 crore: 1 Saudi Arabia Riyal (SAR) = INR 24.18 as on February 18, 2026, as per wise.com) The proposed joint venture, which is yet to be named, will be an associate company of Bajel Projects Ltd.
Objective
The JV will be established specifically to undertake engineering, procurement, and construction (EPC) business within Saudi Arabia, focusing on high-voltage and extra high voltage (EHV) infrastructure which also includes:
- Overhead transmission lines
- Substation packages
- Underground cabling projects and more
The formation of this Joint Venture comes at a pivotal time as Saudi Arabia accelerates its Vision 2030 and beyond. The Kingdom is investing heavily in grid modernization, renewable energy integration, and interregional connectivity to support its burgeoning industrial and urban hubs. By combining Bajel’s technical strengths in EHV execution with Al Sharif Group’s deep regional expertise and market presence, the partnership is uniquely positioned to execute projects and be a partner for Saudi’s utility and infrastructure companies, the release said.
Strategic expansion
According to Rajesh Ganesh, MD & CEO, Bajel Projects Ltd, “The signing of this Joint Venture agreement with Al Sharif Contracting and Commercial Development Company is a defining moment for Bajel Projects as we strategically expand our presence outside India. Saudi Arabia is currently witnessing an unprecedented infrastructure surge. This partnership enables us to bid for complex, extra high-voltage inter-regional corridors and substations that are vital to Saudi Vision 2030 and beyond. BAJEL is excited and looking forward to contributing to the grand vision of the Kingdom”.
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