Dussur

What Dussur does

Dussur (The Saudi Arabian Industrial Investments Company) is a state-backed industrial investment holding company established by Royal Decree with three major Saudi state-owned shareholders: Public Investment Fund (PIF, 50%), Saudi Aramco (25%), and SABIC (25%). Founded in 2015 and headquartered at the King Abdullah Financial District in Riyadh, the company operates a sustainable investment model that acquires stakes in or establishes joint ventures with global technology leaders to localize advanced industrial capabilities in Saudi Arabia, targeting the Kingdom's economic diversification objectives under Vision 2030. Dussur's capital base is 3.85 billion SAR with 2.6 billion SAR deployed across its portfolio.

The company's portfolio comprises eight industrial joint ventures and subsidiaries spanning specialty chemicals (Italmatch Chemicals, Elessent Clean Technologies, Saudi Petrolite Chemicals with Baker Hughes), industrial metals and heavy manufacturing (SeAH Gulf Special Steel for stainless steel pipes, TUWAIQ Casting & Forging), energy equipment (MAKEEN marine engines with Hyundai Heavy Industries), aerospace (SFAM with SAMI and Figeac Aero), and additive manufacturing (NAMI with 3D Systems). Underlying technologies include sulfuric acid/alkylation processes, H-class gas turbine manufacturing, seamless stainless steel pipe production, 3D printing service bureau operations, casting and forging processes, and aerostructure component manufacturing. Notable JV deal sizes include TUWAIQ at 940 million USD, MAKEEN at 940 million USD, Elessent at 275 million USD, Baker Petrolite at 141 million USD, and SeAH at 271 million USD.

Dussur generates returns through equity appreciation and dividends from its portfolio companies, which sell industrial products via direct B2B relationships to enterprise customers in oil & gas, petrochemicals, energy, water, aerospace, defense, and healthcare sectors across Saudi Arabia and the MENA region. The company follows a "build and recycle" capital model — investing in JVs, achieving technology transfer and localization milestones, then exiting to redeploy capital into new industrial opportunities, as exemplified by the September 2024 sale of its 55% GESAT stake to GE Vernova. The holding company itself operates with a lean team of 51-100 employees, relying on portfolio company management for operational execution while focusing on investment origination, governance, and strategic direction.

Name

Dussur

Legal name

The Saudi Arabian Industrial Investments Company (الشركة العربية السعودية للاستثمارات الصناعية)

Website

https://dussur.com/

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

Dussur is a Saudi state-backed industrial investment holding company (PIF 50%, Aramco 25%, SABIC 25%) that establishes joint ventures with global technology leaders to localize advanced industrial manufacturing capabilities — specialty chemicals, metals, energy equipment, aerospace, and additive manufacturing — in Saudi Arabia under Vision 2030.

Ownership category

akta.pro rank

Product category

Industrial Investment Holding

NAICS

Computer and Peripheral Equipment Manufacturing (3341), Other Leather and Allied Product Manufacturing (31699), Farm Machinery and Equipment Manufacturing (333111), Vegetable and Melon Farming (1112), Scientific Research and Development Services (5417), Computer and Peripheral Equipment Manufacturing (33411), Military Armored Vehicle, Tank, and Tank Component Manufacturing (336992), Asphalt Shingle and Coating Materials Manufacturing (324122), Professional, Scientific, and Technical Services (541), Computer and Electronic Product Manufacturing (334)

SIC

Computer Peripheral Equipment, Nec (3577), Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821), Screw Machine Products (3451), Patent Owners & Lessors (6794), Mineral Royalty Traders (6795), Petroleum Refining (2911), Papers & Allied Products (2600), Fabricated Rubber Products, Nec (3060), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122), Construction Machinery & Equip (3531)

akta.pro primary industry

Multi-Utility Distribution Companies (Electric + Gas/Water Distribution) (EUADABAJ)

akta.pro secondary industries

BESS EPC, Integration & Commissioning (EUAFAAAB), Sustainable/Green Building & LEED Consulting (BPAHAKAG), Commercial & Industrial (C&I) BESS EPC & Integration (EUAEAEAB), Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB), Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Concentrated Solar Power (CSP) EPC (EUAEAAAH), BESS Market Participation & Trading Services (Ancillary/Capacity/Arbitrage) (EUAFAAAL)

Keywords

• Industrial investment holding
• Joint venture partnerships
• Specialty chemicals manufacturing
• Additive manufacturing services
• Technology localization

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Industrial Investment Returns: Dussur generates returns through strategic investments in industrial joint ventures and portfolio companies. Revenue is derived from dividends, capital gains on exits, and value appreciation of portfolio companies. The company pursues sustainable investment returns while contributing to Saudi Arabia's economic diversification.
2. Portfolio Company Dividends and Value Creation: As a holding company with stakes in 8 portfolio companies across industrial sectors, Dussur earns returns through its ownership positions in joint ventures manufacturing gas turbines, specialty chemicals, steel products, and additive manufacturing components.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Dussur is a Saudi Arabian industrial investment and holding company that acquires stakes in or establishes joint ventures with global industrial technology leaders to localize advanced manufacturing capabilities within the Kingdom. Through its portfolio of companies, it manufactures and supplies specialty chemicals, gas turbines, stainless steel pipes, casting and forging products, marine engines, aerospace components, and additive manufacturing services to enterprise customers in oil & gas, energy, petrochemical, and industrial sectors.

Product overview

Dussur operates as an industrial investment company managing a diversified portfolio of 8+ joint venture companies in Saudi Arabia's strategic industrial sectors. The portfolio includes MAKEEN (marine engines with Hyundai), TUWAIQ Casting & Forging, Saudi Petrolite Chemicals (with Baker Hughes), SFAM aerospace components (with SAMI and Figeac Aero), Elessent Clean Technologies, NAMI additive manufacturing (with 3D Systems), GESAT gas turbines (sold to GE Vernova), SeAH Gulf Special Steel, and Italmatch Chemicals. These investments target industrial diversification under Vision 2030, focusing on sectors including industrial metals, specialty chemicals, energy, and advanced manufacturing.

Differentiator

Problem solved

Functional benefit

Products and services

• MAKEEN - Saudi Engine Manufacturing Company Joint venture with Saudi Aramco and Hyundai Heavy Industries manufacturing marine engines and power systems, including dual and quad-stroke marine engines, pumps, generators, and propulsion systems for maritime and power generation customers.
• TUWAIQ Casting & Forging Company Joint venture with Doosan and Saudi Aramco operating a casting and forging facility with 60,000 tons annual production capacity using sand molding and open-die forging technologies for industrial customers.
• Saudi Petrolite Chemicals (Baker Petrolite) Joint venture with Baker Hughes manufacturing oilfield chemicals, demulsifiers, corrosion inhibitors, paraffin dispersants, and water treatment products with 30,000 metric tons annual capacity at a 90,000 square meter facility in Jubail.
• SFAM - Sami Figeac Aero Joint venture with SAMI and Figeac Aero Group manufacturing aerospace structural components in aluminum and titanium alloys for military and civilian aircraft OEM supply chains.
• Elessent Clean Technologies Global technology company specializing in sulfuric acid manufacturing, alkylation, and wet gas purification technologies serving metals, fertilizers, chemicals, and oil refining industries across 18 countries.
• NAMI - National Additive Manufacturing and Innovation Company Joint venture with 3D Systems operating Saudi Arabia's first additive manufacturing innovation center, providing on-demand 3D printing, engineering design, reverse engineering, and post-processing services for industrial, medical, defense, and aerospace applications.
• SeAH Gulf Special Steel Industries Joint venture with SeAH Changwon Integrated Special Steel producing the first seamless stainless-steel pipes and tubes in the MENA region at King Salman Energy City with 20,000 tons annual capacity for energy, water, and industrial applications.
• Italmatch Chemicals Italian specialty chemicals company in which Dussur holds a minority stake, specializing in performance-enhancing additives, water treatment solutions, flame retardants, and materials for petroleum, gas, plastics, and personal care industries.

Quantifiable outcome

• Targeting over 2,600 direct jobs by 2030 with Saudization rates of 65-90%
• +4 more outcomes

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

18 partnerships are on record, tiered core and minor.

• 3D SystemscoreStrategic or Co-development Partner · 28 May 2023US-based partner for NAMI (National Additive Manufacturing and Innovation Company), the first 3D printing innovation center and service bureau in Saudi Arabia. 3D Systems provides cutting-edge materials, software, and hardware for polymer and metal-based additive manufacturing applications serving industrial, medical, and defense sectors.
• Italmatch ChemicalscoreStrategic or Co-development Partner · 28 May 2023Italian specialty chemicals company acquired by Dussur in March 2023. Specializes in performance-enhancing additives, water treatment solutions, and materials for petroleum, gas, plastics, and personal care chemicals. Capital increase of 100 million euros to establish specialized factories in Saudi Arabia.
• MaadenminorStrategic or Co-development Partner · 28 May 2023MOU for technical collaboration to localize chemical products used in phosphate, aluminum, and gold mining operations.
• King Faisal Specialist Hospital and Research CenterminorStrategic or Co-development Partner · 28 May 2023MOU for developing 3D printing roadmap in healthcare sector, advancing additive manufacturing applications for medical devices and healthcare spare parts.
• Saudi AramcominorStrategic or Co-development Partner · 28 May 2023MOU for strategic cooperation in additive manufacturing, including development of digital spare parts inventory and localization of printed spare parts production.
• SABICminorStrategic or Co-development Partner · 28 May 2023MOU for supply of chlorine and caustic soda with basic chemicals company to support local chemical production capabilities.
• King Salman Energy City (SPARK)coreOthers · 12 September 2022Strategic land allocation partner for SeAH Gulf Special Steel factory. SPARK provides industrial land and integrated services including electricity, gas, water, and telecommunications for the 177,845 square meter facility.
• Sendan InternationalminorImplementation/ SI/ Consulting Partner · 12 September 2022EPC (Engineering, Procurement, and Construction) contractor for SeAH Gulf Special Steel factory with contract value exceeding 260 million SAR for 34-month construction period.
• Saudi Petroleum Services Polytechnic (SPSP)minorOthers · 16 May 2022MOU for human resources development including training Saudis on industrial technologies and automation, managing on-the-job training inside and outside the Kingdom.
• CHTC KINWIN (Chinese company)minorStrategic or Co-development Partner · 29 March 2022Chinese partner for electric and hydrogen bus manufacturing JV in Jeddah with 3,000 buses annual capacity, serving education, Hajj/Umrah, public transport, and tourism sectors.
• Saudi Arabian Military Industries (SAMI)coreStrategic or Co-development Partner · 1 December 2021JV partner for SFAM (Sami Figeac Aero) for manufacturing aircraft aerostructure components in Jeddah. Focuses on aluminum and titanium alloys for military and civilian aerospace applications.
• DoosancoreStrategic or Co-development Partner · 1 July 2020Partner with Dussur and Aramco for Tuwaiq Casting & Forging Company, a 940 million USD investment in Ras Tanura for manufacturing castings and forgings using sand molding and open-die forging techniques with 60,000 tons annual production capacity.
• Hyundai Heavy IndustriescoreStrategic or Co-development Partner · 1 July 2019Korean partner for MAKEEN (Saudi Engine Manufacturing Company), establishing the first marine engine manufacturing facility in the MENA region in Ras Tanura. Joint venture with Dussur (15%) and Aramco (55%) for manufacturing marine engines, pumps, and power generation equipment.
• GE VernovacoreStrategic or Co-development Partner · 1 January 2017Former joint venture partner for GESAT (General Electric Saudi Advanced Turbines) established in 2017 to manufacture H-class gas turbines and components in Saudi Arabia. Dussur sold its 55% stake to GE Vernova in September 2024 after achieving technology transfer and localization objectives.
• Baker HughescoreStrategic or Co-development PartnerJoint venture partner for Saudi Petrolite Chemicals facility in Jubail. The 90,000 square meter facility manufactures oilfield and industrial chemicals including demulsifiers, corrosion inhibitors, and paraffin dispersants for upstream, downstream, petrochemical, and power markets.
• SeAH Changwon Integrated Special SteelcoreStrategic or Co-development PartnerSouth Korean partner for SeAH Gulf Special Steel Industries, establishing the first stainless seamless pipe and tube production plant in the MENA region at King Salman Energy City (SPARK) with 20,000 tons per year capacity.
• Figeac Aero GroupcoreStrategic or Co-development PartnerFrench partner for aerostructure manufacturing JV with Dussur and SAMI. Provides expertise in precision aerospace component manufacturing for integration into global OEM supply chains.
• Taufeed (Transport Services Development)minorStrategic or Co-development PartnerPartner for electric and hydrogen bus manufacturing JV in Jeddah targeting local bus production for Saudi Vision 2030 transportation goals.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Mubadala Investment Company: UAE sovereign investment company with a sizeable industrial and energy investment portfolio across petrochemicals, renewables, and advanced manufacturing; comparable sovereign-backed regional industrial investor model.
• ADQ (Abu Dhabi Developmental Holding Company): Abu Dhabi sovereign holding company with strategic industrial, energy, healthcare, and advanced-manufacturing assets, including chemicals and metals; closely mirrors Dussur's regional sovereign-industrial investment model.
• Public Investment Fund (PIF): Saudi Arabia's sovereign wealth fund and Dussur's 50% shareholder; operates a Saudi-anchored industrial and infrastructure investment strategy that overlaps with Dussur's mandate at the broader portfolio level.
• SAMICO (Saudi Arabian Military Industries): Saudi defense and aerospace industrial holding pursuing localization and JVs (including SFAM with Dussur and Figeac Aero); closest peer as a Saudi industrial-investment holding pursuing technology transfer via JV model.

Regional players

• Khazanah Nasional: Malaysian sovereign strategic investment company pursuing industrial, energy, and innovation-driven investments; comparable in mandate structure and developmental holding model, though in a different geography.
• ACWA Power: Saudi-listed energy and power infrastructure developer/investor with international project pipeline; regionally comparable industrial infrastructure investment vehicle with a more focused power-generation mandate.
• Saudi Industrial Development Fund (SIDF): Saudi government entity financing industrial localization in the Kingdom; comparable regional industrial-development role, though operating as a development lender rather than equity investor.

Broad incumbents

• Temasek Holdings: Singapore sovereign investor with a global diversified portfolio including industrial, energy, and chemicals investments; a broader incumbent in the sovereign investment space that overlaps with Dussur's industrial investment thesis.

Others

• Khalifa Economic Zones Abu Dhabi (KEZAD) / Industrial City Operator: Regional industrial-economic-zone and industrial-development operator; comparable industrial-localization platform, though focused on zone infrastructure rather than equity investment.
• NEOM Investment / Oxagon: Saudi giga-project industrial development vehicle pursuing advanced manufacturing and supply-chain localization; thematically aligned with Dussur's Vision 2030 industrial investment thesis, though structurally distinct.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/dussur
• Xx.com/Dussur

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dussur