The UAE-based company aims for KSA to make up 50 per cent of its total revenue following an exclusive agreement with the Saudi Technology Development and Investment Company subsidiary
Dubai, UAE, July 19, 2016: UAE-based DC Pro Engineering – a global leader in District Energy, Co-Generation, Tri-Generation and sustainability in Green Building MEP designs, has partnered with TAQNIA ENERGY(TE), a subsidiary of the Saudi Technology Development and Investment Company as part of its Saudi Arabia growth strategy; ‘Saudi 50’.
The exclusive agreement between the two entities marks a joint initiative to pitch for new business projects in the fields of District Cooling and renewable energy throughout the Kingdom of Saudi Arabia. DC Pro Engineering’s technical experience will be complemented by TE’s marketing capabilities and existing network.
DC Pro Engineering has been present in Saudi Arabia for 8 years and currently holds a market share of around 30-40 per cent in District Cooling. As part of ‘Saudi 50’, the UAE-based company aims to grow its presence within the country, expand its product offering and increase revenue opportunities from KSA.
“The Saudi market is an extremely important one for us and we have instigated a strong strategy to strengthen our presence and offering across a number of products that we aim to introduce through our partnership with TAQNIA ENERGY,” Fouad Younan, Managing Director at DC Pro Engineering, said.
“As part of Saudi 50 we are targeting significant growth that will enable the Saudi market to account for 50 per cent of our total revenues by 2020. The partnership with TAQNIA ENERGY is not only important for this vision, but given its position as a company owned by the PIF and its existing partnerships, we will be able to open a greater number of doors across the Kingdom.
“We are well known in Saudi Arabia for District Cooling, but we are expanding into other industries, more specifically Solar PV services, Renewable Energy and Tri-Generation. Working with TAQNIA ENERGY, we will be able to develop into these sectors and branch away from being only known as a District Cooling consultant.”
The partnership is currently working on a number of new project proposals across the country and aims to attract a greater number of new business contracts over the months ahead.
Dr. Abdulrahman bin Ali Al-Muhanna, CEO of TAQNIA ENERGY(TE) , said ‘’We at TAQNIA Energy aim to establish partnerships with the finest & the most reputable organizations in the energy industry. DC Pro Engineering’s values are aligned with TE’s mandate, thus granting this partnership opportunity to contribute to the fruition on the Saudi Vision 2030, by developing the local content related to the energy infrastructure and to safeguard the natural resources & the environment through increasing the efficiency of fuel utilization.’’
The initial agreement between the two companies will last for a total of 12 months, with an option to renew the partnership, expand, or look at other opportunities.
DC Pro Engineering has been engaged in the design, construction, or post-construction for some of GCC’s landmark mega projects including Jeddah’s Kingdom Tower, the new King Abdul-Aziz International Airport, as well as Riyadh’s Al Bustan II Development. The company is also involved in the Khalifa Stadium project in Qatar, the Maryah Island and Saadiyat Island projects in Abu Dhabi, the award-winning Innovation Park in Muscat and many more.