People Meter: Spread the load

Emirates Electrical Engineering (EEE) is part of the Al Rostamani Group. EEE has been involved in electrical power projects as an EPC contractor in the UAE for more than 30 years. Our history dates from 1977, when we made the first high voltage connection for the Northern Emirates.

We specialise in the design and construction of turnkey electrical power transmission and distribution systems, incorporating high-voltage substations, over-head transmission lines and electrical cable networks of up
to 400 kV.
 
How is business?

Last year finished well, with AED 1.08 billion in turnover. We have been increasing our turnover. In 2003 we had AED 217 million and our plan for 2009 is AED 1.1 billion, so we are increasing continuously. We already have around AED 990 million worth of signed contracts for this year.

This is a result of our hard work and the support of the Al Rostamani Group. The group always pushes and supports us in new things, they never say stop, only go and grow.

Where are you working in the region?

In the past few years we have worked for DEWA, FEWA, and SEWA. We’re now an approved contractor for Abu Dhabi, so we’re taking part in tenders for new projects there too. We are also preparing bids for the Qatar transmission system phase IX, for Kahramaa.

We are also looking at work in Dammam, Saudi Arabia because of our good relationship with Zamil Steel, but this is just in the preparation stage.

While DEWA has been our main client for the last few years, with more than a dozen projects currently under construction, we are also working for some private developers.

We have just finished two substations for Motor City, and we are also working on the Al Barari complex and building two substations for Meydan.

How is the economic mood affecting your business?

Our plan for 2009 is based on our clients continuing with their projects, which are already signed and under construction, in order to meet system demand and stability.

We are aware that the current economic crisis means we have to be ready to take urgent steps. At the group level we have a committee monitoring the situation, and if necessary ready to act.

There is a general slowdown on decisions for new projects and many projects for private developers are stopped. Some problems exist in getting new finance facilities from banks. We believe many of these problems will continue during the year.

So we are monitoring the situation and planning to manage it with the people we have, working normally, without recruiting new people or releasing anyone.

What are you doing to secure your company’s future revenue streams?

First of all we have to secure the realisation of our projects for this year. That is the main base for 2010. Normally we have to control our costs and expedite the closing of finished projects in order to get revenues.

What is most important is that when you finish with clients there is retention money, which is around 10%. The process of getting that money after the warranty period, or after clearing the snag list, is not  easy.

What are EEE’s top three goals for the next 18 months?

First of all, in this economic crisis, the most important thing is to successfully realise the projects we have in hand.

We want to increase accumulated profit. And we want to make special efforts to expand our operations in Abu Dhabi and Qatar, because we have to open some more markets. We cannot just be involved in one place.