Dubai – Mubasher: Emirates Building Systems (EBS), a wholly-owned subsidiary of Dubai Investments, has secured major contracts exceeding a value of AED 225 million, according to a press release.
The new projects include Advanced Manufacturing Plant, AMP-2 for Lucid Motor in King Faisal Abdullah Economic City, the Catering Central Building and Laundry Building for Catrion in the Red Sea, and the ADNOC Gas Processing and Habshan CO2 Recovery in Abu Dhabi.
The contracts align with EBS's extensive portfolio of ongoing projects, which includes the Calcined Petroleum Coke Plant in Sohar, Oman. They also cover two aircraft hangars for Etihad Engineering at Abu Dhabi International Airport, and various factories and logistics centers across the region.
Joseph Chidiac, General Manager of EBS, commented: "The steel manufacturing industry in the Middle East is undergoing a paradigm shift driven by rapid technological advancements and a heightened focus on sustainability.”
“According to recent reports by the World Steel Association, steel demand in the Middle East and North Africa is expected to grow significantly, with forecasts predicting approximately 3.20% increase in 2024,” Chidiac added.
He noted: “This surge is largely due to expansive infrastructure projects and the region's economic resilience.”
“At EBS, we are stepping up our efforts to meet this growing demand by expanding our capabilities and embracing cutting-edge technologies,” the official concluded.
In the first quarter (Q1) of 2024, the DFM-listed company recorded net profits attributable to the owners valued at AED 119.96 million, an annual plunge from AED 314.44 million.
