Ali Al-Sayegh Contracting Company celebrated the Silver Jubilee on the 25th anniversary of its establishment in the presence of His Excellency the Minister of Electricity and Water Mr. Abdullah Yousef Ahmed Al-Ghanim and the late Mr. Alireza Mohammed Al-Sayegh, partners, all the company's directors, and members and, the distinguished guests of the Sheraton Kuwait Hotel.
On this occasion, Mr. Najda Viken Shakzu, Managing Director and Partner, delivered an introductory speech about the company, partners, and its assets, and this was part of his speech to the gentlemen present:
Greetings and after,,,
It is my pleasure and pride to have the privilege of presenting Ali Al-Sayegh Contracting Company when it passes its twenty-fifth anniversary and the quarter of a century since its establishment.
In 1953, it brought together Mr. Al-Hajj / Ali Reda Al-Sayegh and the late Narcissus Shakzo, who decided to enter together into a partnership that led to the establishment of Ali Al-Sayegh Contracting Company to perform its services to the construction industry and to play an active role in the social and economic development of the basic formations of the State of Kuwait, which was significant and prominent with the oil industry.
Once formed, Ali Al-Sayegh Contracting Company was awarded the first contract by the Messrs. Kuwait Oil Company, which was then the only institution in the country.
I am also very pleased to have been able to play a modest role in the company over the twenty years since 1958, which I originally performed as General Manager of Technical and Administrative Affairs, and therefore as a Managing Director and Partner since 1963 following the retirement of my late father, Narcissus Shakzo, for medical reasons.
By 1963, ten years after the establishment of Ali Al-Sayegh Contracting Company and after its success in the implementation of a number of construction contracts and in civil engineering and services, we proved two facts, the first of which is that all the partners in the company were working in the spirit of one strong and united family, have consistent and harmonious goals and are characterized by absolute honesty and full confidence in the individual decisions taken. The second fact is that we provide maximum service and effort to all the company's customers in its contractual obligations and undertakings regardless of their size or complexity.
In 1963, Ali Al-Sayegh Contracting Company invited Mr. Arsvier Narcissus Shakzu (brother), the eldest son of the late Narciès Shakzu, to take his place on the Board as General Manager, that the addition of another competent and effective family member to the management of Ali Al-Sayegh Contracting Company had motivated the Board to proceed with the further expansion of the company's operations and put it in a position to become one of the companies registered with the Ministry of Public Works, and it has been upgrading its reputation and gaining the satisfaction of the customer. In a very short time.
In 1973, twenty years after the success of its business, Ali Al-Sayegh Contracting Company welcomed the joining of another family member to the company's partnership and board.
That member was Dr. Jassim Al-Sayegh, nephew of Mr. Ali Al-Sayegh, who had just returned to his homeland after graduating with a doctorate in civil engineering from the United States of America, and who returned unscathed what was waiting for him, as Dr. Jassim Al-Sayegh was invited unanimously in the company to join the company as a partner and member of its board.
During the twenty-five years of its continuous operations as a leading non-acquiescence contracting company, it has faced some obstacles and stagnation that have been overcome thanks to its solid foundations and wise policy to its leaders to record a growth rate of 30% per year.
I feel that the active role I have played as a Managing Director and Partner in the progress and achievements of Ali Al-Sayegh Contracting Company over the past twenty years, which is an honor and invites me to be proud of, and that I pray to Almighty Allah and pray to Him to give me and all my partners and colleagues the strength and unity of ranks to continue our future journey as we have begun and to contribute modestly to the development, prosperity, and progress of our beloved country Kuwait.
He then began to clarify the company's assets, subsidiaries, and partners.
The activities of the ceremony were then completed.