Caterpillar seals strategic deal with Dubai firm
Dubai, April 20, 2013
Caterpillar, the world’s leading manufacturer of construction and mining equipment, has entered into an international power projects (IPP) agreement with Saudi-based Zahid Group, which recently formed a new subsidiary company, Altaaqa Global.
As an IPP partner, Altaaqa Global will provide multi-megawatt temporary power solutions around the world, supported by partnerships within the worldwide Cat dealer network.
“We have been successfully serving our customers within Saudi Arabia since our inception,” said Fahad Y Zahid, the executive VP of Zahid Group.
“In 2004, catering to local needs, we launched Altaaqa Alternative Solutions , which later became the world’s largest fleet owner of Cat Rental Power with over 750MW in its inventorym," he noted.
"Through this IPP agreement, our new subsidiary, Altaaqa Global, will enable us to strengthen our position as a leading provider of turnkey temporary power solutions, now at a global level," he added.
Bill Rohner, the VP of Electric Power at Caterpillar pointed out that Zahid Group had demonstrated a proven track record of excellent customer service for more than 60 years.
“Having them as a strategic partner will help expand Caterpillar’s evolving role in the IPP market,” he noted.
In his comments, Steven Meyrick, the managing director of Altaaqa Global said Caterpillar’s global presence and Altaaqa Global’s temporary power expertise is a powerful synergy. “Bringing power to solutions is what we are offering. Bringing power where it is needed, when it is needed,” he stated.
The UAE-based Altaaqa Global provides fast-track and large-scale temporary power solutions from 20MW to 100MW and more, offering gas, diesel or dual fuel technology to various sectors such as oil & gas, power utilities, mining, government services, military, manufacturing and construction.
“Our temporary power plants are mobile, easy to deploy and quick to install,” explained Peter den Boogert, the general manager, Business Development of Altaaqa Global. “We can intelligently generate electricity within weeks in Africa, the Middle East, Latin America, Asia and the Pacific,” he added.-TradeArabia News Service