March 16th, 2006
The Emirates Central Cooling Systems Corporation (Empower), a member of Dubai Holding, is planning a major expansion in the UAE and the region, a senior company official said on Monday.
The company will invest a mammoth Dhs11 billion by 2015 for expansion in the regional markets to grab the opportunity this region offers for the district cooling services, Empower Chief Executive Officer (CEO) Ahmad Bin Shafar told The Gulf Today.
Shafar said that his company’s investments in different projects in Dubai stand at Dhs 2.1 billion.
“In the last three years, we have signed a number of major contracts with majors like Dubai International Financial Centre, Dubai Healthcare City, Business Bay, City of Arabia, International Media production Zone and Dubai Pearl are a few to name,” he added.
Commenting on regional expansion, Shafar said Oman, Qatar and Bahrain are in focus for expansion. “We will set up our offices in these neighboring countries. Our focus is to open our own offices to run projects rather than tie up with firms based in those countries.”
Shafar said the regional market, especially the UAE, offers great potential for district cooling services. He said despite the tough competition in the local market, Empower has successfully created a niche in the country
Empower is a decree company and this helps the company to grow faster and grab the market share faster, he added.