UAE-based DC Pro Engineering, a global leader in district energy, co-generation, tri-generation and sustainability in Green Building MEP (mechanical, electrical and plumbing) designs, has partnered with Taqnia Energy, a subsidiary of the Saudi Technology Development and Investment Company, to boost its operations in the kingdom.
The exclusive agreement between the two entities marks a joint initiative to pitch for new business projects in line with its Saudi Arabia growth strategy; ‘Saudi 50’ with focus on district cooling and renewable energy sector.
DC Pro Engineering said its technical experience will be complemented by Taqnia Energy’s marketing capabilities and existing network.
The Emirati engineering firm has been present in Saudi Arabia for eight years and currently holds a market share of around 30 to 40 per cent in district cooling.
As part of ‘Saudi 50’, the company aims to boost its presence within the country, expand its product offering and increase revenue opportunities from the kingdom.
"The Saudi market is an extremely important one for us and we have instigated a strong strategy to strengthen our presence and offer across a number of products that we aim to introduce through our partnership with Taqnia Energy,” remarked Fouad Younan, the 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.
Younan pointed out that DC Pro Engineering was well known in Saudi Arabia for district cooling, but now it was slowly expanding into other territories, 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," he noted.
According to him, 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, the chief executive of Taqnia Energy, said: "We aim to establish partnerships with the finest and the most reputable organisations in the energy industry. DC Pro Engineering’s values are aligned with our 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, he added.
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.