TAQA mulls Tadawul listing from 2026-2027, business expansion: Official

Meshary Al-Ayed, Industrialization and Energy Services Co. (TAQA) Vice President for Quality, Health, Safety, Security and Environment

Industrialization and Energy Services Co. (TAQA) plans to list its shares on the Saudi Exchange (Tadawul) in the period from 2026 to 2027, as part of the company's strategic plan, Meshary Al-Ayed, Group Vice President for Quality, Health, Safety, Security and Environment, told Argaam on the sidelines of the Public Investment Fund (PIF) Private Sector Forum.

He added that the firm has a strategic plan to expand its business and the technologies it provides to the Saudi market in terms of services and technical products, through the acquisition of international technical companies.

Before the IPO, TAQA targets robust sales and an attractive market share. The company currently has an integrated business system in the Saudi market, Al-Ayed said.

He indicated that the firm acquired three companies before its purchase of AlMansoori Petroleum Services Co. Further, it sought to secure technologies to offer them to the Saudi market and planned to complete the supply chain to enhance its strategy.

AlMansoori Petroleum operates in several countries, including the GCC, Iraq, Egypt, Libya, Pakistan, India, and several African countries.

TAQA's strategy focuses on exploration work for gas companies and well engineering. This is in addition to undertaking the renewable energy business to reduce carbon emissions, reach net zero and achieve sustainability in the technologies it offers.

TAQA was established in 1965 as a joint venture between Arabian Drilling Co. and another foreign company, before running as a holding company in 2003. Currently, TAQA is a closed joint stock company, of which PIF owns 54%.

The company actively invested in the oil and gas sector until 2017, then it turned to the operational activity within the sector.

TAQA proceeded with acquisitions to enhance its operational performance and competition in the Saudi market, Al-Ayed concluded.