PMV Middle East
AL MASAOOD POWER DIVISION (AL MASAOOD GROUP)
Al Masaood Power Division has been an active player in the UAE power industry since 1972, and has continued its growth trajectory in 2022. Hani El Tannir, CEO, Al Masaood Group Industrial, answered our burning questions:
WHAT WERE YOUR GREATEST SUCCESSES IN 2022?
The year was a bustling one for our various divisions. Based on strategic plans, we forged ahead with new representations, joint ventures and our own development plans, all aimed at diversification and expansion.
Our Power Division has grown and launched a number of sustainable energy initiatives such as SHAMS+, which has applications for marine, EVS, hydrogen, and all forms of standalone power generation requirements.
Additionally, the division signed a cooperation deal with Sunstream International, where we have set up a solar park to display the solutions that we have. Our Projects and Engineering Services Division launched a number of new agreements, with emphasis on service and value addition. Our Commercial Vehicles & Equipment division secured major awards, as well as launching a steel fabrication facility as part of its diversification. Al Masaood Bergum re-aligned its plans and this has already started reaping results in major contracts for modular housing. Our Tyres, Batteries & Accessories Division continues to grow and secure awards. ARB Emirates also continues to grow and secure recognition for its innovative business model. All this success belongs to our General Managers, and to the support of our Directors, and augers very well for years to come.
And throughout this, we continued with the development of our most important resource - our employees, across all levels. And we expanded our Emiratization policies, putting our money where our mouth is! For instance, we have just launched a 2-year program for a Mechatronics Apprenticeship under Power Division. We will continue to identify and fill opportunities for young Emiratis to demonstrate their drive and ambition.
So, yes, it has been a busy year for all of us, but one full of positive results and vibes.
WHAT ARE YOUR STRATEGIC PRIORITIES IN 2023?
We have always aligned our key strategies with the vision of the UAE. Our current direction in the Group Industrial divisions is to incorporate sustainability across our value propositions, and reducing carbon emissions to support the country’s net-zero targets. Being one of the pioneering power providers in the UAE, we’re witnessing the country’s transition to embrace clean and renewable energy sources. For 2023, we have laid out a strategy to cater to the changing market dynamics and offer quality solutions that meet the requirements of our customers across various industrial and economic sectors.
WHAT ARE YOUR PLANS FOR GROWTH AND DEVELOPMENT IN THE LONG TERM?
Over the years, Al Masaood has cemented its position in a wide array of economic fields, and our plan is to keep up with this momentum. In doing so, we will be steering our product offerings towards sustainability and renewables, as mentioned previously, and strengthening our relationship with our stakeholders. As an example, we will continue engaging in in-country publicprivate partnerships to pave the way for new and promising business prospects. Additionally, we at Al Masaood truly believe in diversification as a strategic tactic to support our growth and expansion. We are strongly pursuing diversification into the manufacturing side of operations; to create products and solutions that are tailormade to serve each of our customers’ specific needs. Whether diversifying on a vertical or horizontal scale, we will keep seeking means to leverage our current expertise across a wider range of sectors and markets.
TELL ME ABOUT AL MASAOOD’S SUSTAINABILITY PLANS.
We understand our role in supporting the transition of, not only the UAE, but the region as well, to clean and renewable energy sources. Through Al Masaood Group Industrial divisions, most, if not all, the new products and services that we are now introducing embrace sustainability, whether in Power and Utilities, Oil and Gas, or products and services for the Construction sector. We are also updating our strategies and partnerships to be in line with UAE Sustainability Targets.