The importance of local contents in challenging markets

English

By Mohamed Metawie
Division Manager

Ali & Sons Marine Engineering Factory

In the current challenging market conditions, the importance of local contents cannot be overlooked. Local contents are not only human resources, but also material and any available resources that can contribute to enhancing quality and maintaining lower prices.

We at Ali and Sons Marine Engineering Factory have been working closely with local manufacturers and vendors to increase local contents in all projects. Acquiring local material and talent has proven efficiency in various projects as it led to reducing project cost and duration.

ASMEF has also been keen on acquiring international expertise and train local man power in order to enhance knowledge and experience. We have been collaborating with companies from different countries and businesses for the past few years such as TMP, Bentec, Sulzer, COSCO Shanghai, and Samson bringing their knowledge and expertise to our in-house staff. ASMEF has signed an MOU with one of the well-reputed entities in rig building and drilling equipment manufacturing which will be announced soon. We aim to increase our market share and prove that the Emirati industry is strong enough to compete on an international level.

Additionally, we have increased our qualification portfolio with ADNOC Group of companies in order to be on their list of local manufacturers. It is known that the general management of ADNOC have been encouraging local companies and we are looking forward to prove ourselves worthy of their trust.

We have recently delivered one of our biggest projects to ADCO, a 25 power skids that will be used for Mender project. The quality of our work has led to an influx of inquiries from world brands. We have been working closely our partner to develop a training program to enhance the skills of local resources. ASMEF earlier this year signed a MOU with TASNEEF to develop a joint training program in addition to collaboration to promote each other as local Emirati companies.

However, we are optimistic that the market had reached a stable stage where all industries are balancing their sheets based on the existing conditions. There are clear signs on market recovery and we can see it in more projects being tendered that the marine and shipping industry moving forward. As oil prices fluctuation been a major factor in the volatile market condition, it seems that they are finally coming to a stable average. This average is what is going to be used in all coming business plans.  As a part of Ali and Sons Group, ASMEF has been privileged to be serving the UAE for the past 38 years with a perfect track record of prestigious project and services.

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