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- 250,000 square feet investment in Dubai's Jebel Ali Free Zone
- New facility will be a regional hub for Middle East and Eastern Hemisphere
- The plant manufactures wellhead, valve and API drilling products for the oil and gas industry
Dubai, UAE: The Weir Group ('Weir' the 'Group') today announced details of the UAE's first wellhead manufacturing facility. The US$ 20 million investment will see local manufacture and service of highly engineered equipment for use in upstream and downstream oil and gas operations.
Speaking at an event to introduce the new plant to customers from across the region, Weir Group Chief Executive Keith Cochrane commented:
"Weir has been operating in Middle East for more than 100 years and this unique investment reflects the demand for the world's best oil and gas technology to be made in the UAE. It also demonstrates the strength of our local manufacturing and engineering talent and the key position UAE holds as a centre of growth in the global oil and gas industry."
Welcoming the investment, His Excellency Sultan Ahmed Bin Sulayem, Chairman of DP World and Ports, Customs and Free Zone Corporation said:
"Weir Group's new state-of-the art manufacturing facility in Jafza reinforces the Free Zone's status as the business hub for the oil and gas industry for the wider Middle East region that spans from West Asia, the CIS, Africa and the Indian Subcontinent. I am sure the new facility will allow Weir to serve the industry in the region more efficiently. I congratulate them for their prudent move and wish them great success in further strengthening their presence in the region."
The 250,000 square feet facility is based in Dubai's Jebel Ali Free Zone and will have over 300 employees providing turnkey solutions to customers across the MENA and Caspian regions. These solutions include manufacturing, testing, product validation and services to support oil and gas operations in the upstream and downstream sectors.
Vikas Handa, Managing Director of Weir Oil and Gas Services said:
"This investmentmeans oil companiesin the region can now get the products they need, when they need them with rapid response and delivery times. Our engineers will work more closely with our customers to offer world class engineering solutions and products, manufactured locally, saving them valuable time and money."
About The Weir Group PLC
Founded in 1871, The Weir Group PLC is based in Glasgow, Scotland and is one of the world's leading engineering businesses. Weirdesigns, manufactures and services innovative solutions which make our minerals, oil and gas and power customers more efficient. This is recognised in the global leadership positions we have developed in our core markets.
The Group employs approximately1,200 people in the Middle East with operations in the Abu Dhabi, Dubai, Kingdom of Saudi Arabia, Oman and Southern Iraq.
Weiraims to be a partner of choice to our customers with a worldwide network of around 200 manufacturing facilities and service centres. The business has a presence in more than 70 countries, with over 15,000 people working in three divisions: Minerals; Oil & Gas; and Power & Industrial.Annual revenues were more than £2.4 billion in 2014, of which almost two thirds came from the provision of services and aftermarket support.
High resolution images of Vikas Handa and the wellheads which will be produced in Dubai are available at: weirgroup.thirdlight.com/viewcontainer.tlx?containerid=32828516360
Enquiries:
Brunswick: Jade Mamarbachi
+971 50 600 3829
© Press Release 2015