Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Energy Capital Group's ECG2.0-Fund2 Acquires Dar Al Balad Contracting (DAB), Strengthening Its Industrial Services Platform

This image opens in the lightbox

News provided by

Energy Capital Group

12 Mar, 2025, 06:00 GMT

Share this article

Share toX

Share this article

Share toX

RIYADH, Saudi Arabia, March 12, 2025 /PRNewswire/ -- Energy Capital Group (ECG) has announced the successful acquisition of Dar Al Balad Contracting (DAB) through its investment vehicle, ECG2.0-Fund2. This acquisition marks a significant milestone in ECG's strategy to build a leading industrial services national champion, with plans to list the platform on Tadawul within the next two years.

Continue Reading
This image opens in the lightbox
Left: Ali Abdulaziz Alturki, ECG managing Partner; Middle: Eng. Bassam Ibn Salamah, Managing partner Addar Group; Right: Akram Alrabayah, ECG Managing Partner

The acquisition further solidifies ECG2.0-Fund2's position as a key player in Saudi Arabia's Power and Water Industrial Services sector. This move aligns with Vision 2030, reinforcing ECG's commitment to enhancing the Kingdom's industrial infrastructure and supporting national energy and utility initiatives.

DAB: A Leading Provider of Industrial Services

DAB has established itself as a premier engineering service provider, specializing in maintenance solutions for the Saudi Electricity Company (SEC) and other key industrial clients. The company's expertise ensures the reliability, efficiency, and operational integrity of critical infrastructure in the Power and Industrial sectors.

DAB's core services and products include:

  • Inspection, Overhaul, and Repair of Gas and Steam Turbines, Supercritical boilers, Heat Recovery Steam Generators (HRSG), and their auxiliaries.
  • Supply and install Steam Water Analysis System (SWAS), chemical cleaning, and specialized manpower supply.
  • Equipment Installation – HVAC systems, cooling towers, ID / FD fans, pumps, and valves.
  • GT Compressor Water Wash skids for gas turbine, Cyclone Vacuum Dust collection system.
  • Manufacturing Mechanical Seals, Supply and installation of Expansion Joints
  • Fire Protection Systems – Supply and installation of fire protection, fire alarm, and firefighting systems
  • Electrical & Instrumentation – Cabling, CCTV, control panels, and temperature control instruments

Strategic Expansion Through STEGIS-KSA Joint Venture

In 2013, DAB entered into a joint venture with STEG-IS, forming the Saudi Tunisian Electricity, Gas & Industrial Services Company (STEGIS-KSA). DAB holds a 50% stake in the partnership, focusing on turbine maintenance, while STEG-IS specializes in Turbine and boiler maintenance. This collaboration enhances service capabilities and unlocks new growth opportunities by leveraging cross-client relationships.

ECG's Vision: Building a National Industrial Services Champion

The acquisition of DAB represents the latest addition to ECG's Industrial Services National Champion Platform, a strategic initiative aimed at consolidating and scaling leading industrial service providers into a single, high-growth entity.

ECG plans to list this platform on Tadawul within the next two years, creating a publicly traded entity that will drive sector-wide innovation, operational excellence, and long-term value creation for stakeholders across the region.

Leadership Perspectives

Akram Alrabayah, General Partner of ECG, stated:

"The acquisition of Dar Al Balad Contracting is a key step in ECG2.0-Fund2's strategy to build an integrated industrial services platform that supports Saudi Arabia's economic growth and infrastructure development. DAB's strong reputation, technical expertise, and client relationships make it a valuable addition to our portfolio. We look forward to accelerating its growth and enhancing its operational capabilities."

Bassam I. Ibn Salamah, Managing Director of DAB, commented:

"This partnership with ECG2.0-Fund2 is a transformative moment for DAB. With ECG's support, we are well-positioned to expand our service offerings, strengthen our market presence in GCC, and further enhance our contributions to Saudi Arabia's Power and Water sectors. We are excited about the opportunities ahead as part of ECG's national champion platform."

About Energy Capital Group (ECG)

Founded in 2008 by Ali Abdulaziz Alturki, Energy Capital Group (ECG) is a Saudi-based investment firm specializing in industrial services and global technologies. In 2021, ECG launched its latest fund after merging with Cayan Holdings (co-founded by Akram Alrabayah) and partnering with Abdulwahab Al Betairi, both of whom serve as Co-General Partners.

With a strong track record of building strategic partnerships with local and global service providers, ECG has significant investments across Saudi Arabia and the region. The firm is supported by a network of experienced operating partners and industry leaders, positioning it as a key player in the Kingdom's energy and industrial sectors.

For more information, visit www.ecgsaudi.com or contact us at info@ecgsaudi.com.

Photo - https://mma.prnewswire.com/media/2639308/AR_BS_AT.jpg
Logo - https://mma.prnewswire.com/media/2639309/ECG_Logo.jpg

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.