The Hindu Business Line : Voltas bags two new contracts in Gulf

VOLTAS, which has registered a 50 per cent growth in business in the Gulf region in the fiscal ending March 2004, has bagged two new contracts in the UAE recently and is eyeing further growth in the region this year.

Voltas has bagged a Dh 126 million joint venture contract to carry out the complete electro-mechanical works for the upcoming Souq Al Nakheel (Mall of the Emirates) in Dubai. The contract is being carried out as a joint venture with the Dubai based International Electromechanical Company. Work on the project has just begun and will be completed in 18 months, Mr Shaukat Ali Mir, Regional Manager, Voltas, told Business Line.

The Indian major has also bagged a Dh 50 million contract in Abu Dhabi to carry out the electro-mechanical works for the expansion project in the city's upscale Marina Mall located on the Corniche, Mr Mir said.

The company's focus in the coming period is on bidding for more projects like airports, malls and commercial complexes, particularly in Dubai, where a lot of construction activity is underway on a number of mega ventures, he said. Among the several projects it is looking at, Voltas is bidding for the Jumeirah Beach Residence project and the major expansion planned at the Dubai International Airport.

Mr Mir attributed the firm's substantial growth in the Gulf region last year in large part to the major contract it bagged in Abu Dhabi for building the central cooling plant and infrastructure as well as electro-mechanical works for the upcoming seven star Conference Palace Hotel, that will host the GCC summit. Voltas has completed one of the packages of this contract and the second will be completed in two months time, he said.

Voltas' capabilities in successfully completing complex jobs on a fast track asis has enabled it to obtain a firm foothold in the construction sector in the Gulf, particularly the UAE and Qatar, he said. The firm will also be eyeing more upcoming projects in Qatar. It had earlier secured a Dh 170 million (approx) defence contract for expansion work at the Al Udied airbase. At present, close to 1,000 personnel are working on Voltas' and joint venture contracts in the Gulf. Voltas is also involved in some important projects in Singapore, Hong Kong and China.

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