Sept 2 (Reuters) - U.S. power equipment maker GE Vernova ( GEV )

said on Monday it has acquired the remaining ownership

stake in a Saudi gas turbine producing joint venture from

state-owned Dussur.

The former unit of General Electric had agreed with Dussur

to set up the General Electric Saudi Advanced Turbines JV in

2017 in the eastern city of Dammam.

After buying Dussur's 55% stake in the JV, GE Vernova ( GEV ) will

be the sole owner of GESAT.

The JV has manufactured more than 200 gas turbine modules

for power generation plants across 10 countries including Saudi

Arabia, GE Vernova ( GEV ) said.

"Dussur's decision to sell its shares to GE Vernova ( GEV ) follows

achieving the investment and development objectives of this

investment in GESAT, the company has been able to employ and

train a number of young national talents and transfer knowledge

in the field of gas turbine technology," said Dussur CEO Raed

Alrayes in a statement.

Dussur, or Saudi Arabian Industrial Investments Company

(SAIIC), was established in 2016 by state firms Saudi Aramco,

Public Investment Fund and Saudi Basic Industries Corporation

(SABIC).

It seeks to develop industrial sectors in Saudi Arabia as

part of the government's plan to create jobs and diversify the

oil-dependent economy.

The value of the deal was not disclosed by the companies.