State-owned Engineers India Ltd (EIL) is scaling up its Abu Dhabi office as it expects more orders from the Middle East, where the focus is on maximizing oil production, putting up petrochemical projects and revamping refineries, the company's chairperson said.
The engineering consultancy firm has raised staffing at its Abu Dhabi office as it sees opportunities in projects being taken up in the Middle East, EIL Chairperson Vartika Shukla said.
The strengthening of Abu Dhabi office has resulted in an increase in business inflow from Rs 930 million in 2022-23 to Rs 1.46 billion in FY 2023-24, an increase of 57 per cent on a year-on-year basis. Till August 31, the order inflow from Abu Dhabi office has already touched Rs 1.41 billion and the company is anticipating a healthy order inflow in future as well, she said.
"They find value in our services," she said.
EIL has raised its staff strength from 30 to 130 at its Abu Dhabi office to cater to the region, Shukla said. The company, which was previously focused on oil and gas infrastructure, is expanding into other businesses as well, such as hydrogen, carbon capture, biofuels, and offshore wind farms.
EIL had an order flow of Rs 34 billion in 2023-24 (April 2023 to March 2024) fiscal and has already recorded Rs 46.81 billion order inflow in current fiscal. Its order book stands at Rs 113.50 billion, including projects for which an initial 'go ahead' has been given by companies, as on August 31.
The share of international business in the new orders received is 25-30 per cent. The engineering firm is executing projects for state-owned firms. Overseas projects include building a refinery in Mongolia and the recently commissioned Dangote refinery in Nigeria.
Shukla said the firm posted a net profit of Rs 3.57 billion on a turnover of Rs 32.32 billion in 2023-24. On the international stage, the company has secured Rs 4.99 billion in new contracts and made a re-entry into Algeria and Kuwait. "These projects signify its expanding global footprint and enhanced capabilities," she said.
In the fiscal year 2023-24, EIL advanced its global footprint and project portfolio, she said, adding EIL is also providing engineering consultancy services for the NHT-CCR Reforming Unit at Arzew Refinery in Algeria and is contributing to the modernization of Bahrain's refining sector through the design package preparation for a desalination plant.
In Kuwait, EIL is a consultant for the FEED and ITB preparation for revamping the existing AGRP-1 Unit at MAA Refinery.
EIL continues to strengthen its presence in Guyana by providing consultancy services for the Integrated NGL Plant as well as 300 MW gas-based power plant and has also expanded its reach in the Middle East with several critical projects for ADNOC and other clients.
