Saudi Arabia: Abu Dhabi-headquartered DC Pro Engineering has announced partnering 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, the announcement said, marks a joint initiative to pitch for new business projects in the fields of District Cooling and renewable energy throughout Saudi Arabia, and combine DC Pro Engineering’s technical experience with TE’s marketing capabilities and existing network. As part of ‘Saudi 50’, the announcement highlighted that DC Pro Engineering aims to grow its presence within the country, expand its product offering and increase revenue opportunities from the Kingdom.
The partnership, the company revealed, is currently working on a number of new project proposals across the country and, it aims to attract a greater number of new business contracts over the months ahead. 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, added the company.
“As part of Saudi 50, we are targeting significant growth that will enable the Saudi [Arabia] market to account for 50 per cent of our total revenues by 2020,” said Fouad Younan, Managing Director at DC Pro Engineering. “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.”
He added: “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.”
Dr Abdulrahman bin Ali Al-Muhanna, CEO of Taqnia Energy, said, “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 utilisation.’’
