DC Pro Engineering targets Saudi growth

Dubai - Dubai

UAE-based DC Pro Engineering has partnered with Taqnia Energy (TE), a subsidiary of the Saudi Technology Development and Investment Company as part of its Saudi Arabia growth strategy titled 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 eight years and currently holds a market share of around 30-40 per cent in district cooling. As part of the growth strategy 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," said Fouad Younan, managing director at DC Pro Engineering. "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," 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."
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. 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.
Abdulrahman bin Ali Al-Muhanna, CEO of Taqnia Energy, said: "We at Taqnia Energy aim to establish partnerships with the finest and the most reputable organisations in the energy industry." - business@khaleejtimes.com