UK asset manager plans Abu Dhabi hub
Dubai, December 18, 2012
UK-based asset management firm Speedy International has announced plans to open a 30,000-sq m regional hub in Abu Dhabi as part of investment plans for its Middle East operations.
Speedy International, which first opened operations in the region in January 2010, has identified Abu Dhabi as the ideal location for its international operations, targeting the Middle East and Asia as key growth markets.
The new regional facility will be built at a cost of Dh15 million ($5 million) at the Esnaad Offshore supply base in Mussafah area of the emirate.
“Abu Dhabi is the ideal location for Speedy International. Through our relationship with various Adnoc group companies we are already establishing a strong market presence and our new facility will serve to further underline our commitment to the region,” remarked Andy Carter, the managing director of Speedy International.
Speedy International, said Carter, had signed a $50 million contract to support Esnaad in relation to Zadco’s UZ 750 artificial islands project in July 2012.
Since 2010, the UK firm has invested more than Dh232 million in its fleet and operations. The asset management firm boasts of the youngest fleet in the region, offering generators, nitrogen production units, boosters, compressors, lighting towers, lifting and hand tools.
Its regional team has grown to 550 trained professionals, with this number expected to double in 2013.
Carter said Speedy has a strong market presence in the GCC countries. In addition to its UAE operations, the company opened an office in Oman and Egypt in 2011 and has plans to open in Qatar and Saudi Arabia in 2013.
The operational presence includes major economies across the GCC and Asia Pacific region, he added.-TradeArabia News Service