Invensys Aims to Double Revenue from the Middle East

Industrial process control automation company Invensys aims to execute contracts worth US$1 billion in the Gulf in five years, its vice-president and managing director for the Middle East said.

"We are executing contracts worth about $505 million in Saudi Arabia, the UAE, Qatar, Kuwait and Oman now. We are looking to double that figure by 2013," Nabeel Kassem told Gulf News. He said in the GCC, the company had projects worth $260 million under execution in 2005. "The GCC business contributes about 25 per cent to Invensys' global business volume," Kassem said.

He said Invensys had invested $80 million in the UAE between 2005 and 2007. The investments have primarily gone into building an engineering centre along with assembly of control systems at Jebel Ali and service and training centres in Abu Dhabi.