How’s business?
There is a huge demand for temporary power in the emerging markets around the world, particularly in the regions of Africa, Middle East, Latin America, South, Central and East Asia and these are areas where we are focusing.
Altaaqa Global aims to become a billion dollar company in the next 5 years. The aim is to be the preferred provider of temporary power solutions in the industry. Altaaqa Global a subsidiary of the Zahid Group of Saudi Arabia, one of the largest CAT dealers in the world today.
Our business future is very promising and, having got off to a great start, we are already breaking records in the power rental industry.
What opportunity led to an installation in Aden?
Our commitment to deliver on time and our fuel efficient power plant was the winning formula in Yemen. Our competitors were not able to meet the extremely tight installation / commissioning deadline set by the client. Nor were they able to deliver the complex technical specification demanded within this timeframe.
As a result, we were able to deliver the equipment on time and supply power ahead of the target schedule. It took us just 23 days from the signing of the contract to mobilize our equipment, ship it from Dubai to Aden, deliver the equipment at site, install and commission the power plant.
According to the customer, this was the fastest installation of a fully commissioned temporary power plant in the history of Yemen.
How important is this region to your business?
All the GCC countries are very important to us due to their expanding economies. If you consider for a moment the Saudi Arabian market for example, our sister company Altaaqa Alternative Solutions (Altaaqa Saudi) is providing 800 MW of power in various sectors, making them the clear market leader in the rental power industry.
The MENA region in general is not only important for us but it is closest to our hearts. We know well the terrain, its key industry drivers and its business culture and these elements combine to ensure the MENA region remains our top priority in providing independent power plants.
What’s on the horizon over the next 12 months?
We are going to continue in pursuing multi-megawatt independent power projects (IPP) in the emerging markets. Altaaqa Global will continue to invest heavily in human resources, further improving our business processes, expanding and diversifying our fleet of CAT power generators.
As part of our commitment to help local communities in the areas where we are operating, we are actively embracing corporate social responsibility programmes that will help alleviate the social needs of our immediate environs.
We do this by providing job opportunities, immediate assistance for school children and educating the younger generation in ways they can individually contribute to their country through energy conservation.
In Yemen for example, 95% of the workforce operating our new power plant in Aden comprises Yemeni engineers.
We are committed to helping our immediate environs through a sustainable business model by creating employment opportunities in the areas where our business chooses to operate.
