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ARDECO sees ADIPEC success as driver for industry growth

Dec 17, 2017
4 min read
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Arab Development Establishment (ARDECO) is one the UAE’s foremost diversified business enterprises with operations spanning a broad range of industries.

Established in 1980. ARDECO initially concentrated on the oil and gas and the power and water sectors. Subsequently, it diversified into a variety of other fields including petrochemicals, real estate, contracting, manufacturing and services.

In the oil, gas and petrochemical sector, the group is active in mechanical, engineering, construction, electrical.

The group has consistently experienced significant growth in its operations through active representation and joint venture tie-ups with foreign companies, internal growth, establishment of independent operations, and acquisition of other UAE business.

Through emphasising on quality in its operations and a policy of Partners for Success with its principals and other business partners, ARDECO has positioned itself prominently in every field in which it has chosen to operate.

ARDECO Chairman Yousef Mohammed Ali Al Nowais in an interview at ADIPEC said the show was an unprecedented success for the company. “The high turnover of people, the huge level of interest to build the oil, gas and petrochemical industry is tremendous,” Al Nowais said.

Abu Dhabi National Oil Company (ADNOC) has been a great support for the development of small and private oil and gas companies in Abu Dhabi, Al Nowais said, while its growing transparency, interaction and willingness to cooperate is a positive indicator for the development of Abu Dhabi’s economy.

“If we continue in this rhythm, we will see great growth in Abu Dhabi in general and particularly in the oil and gas sector. ADNOC is the economic driver for Abu Dhabi - if they move forward, we see everything move ahead in the industry. This will enhance the industry and encourage entrepreneurs to invest in order to enrich the private sector and this is what we need for increasing recruitment of young Emiratis,” he said.

ARDECO’s Chairman believes that despite the oil industry having suffered through a sharp drop in oil prices between June 2014 and Feb 2016 that wiped out half the value, the government has a clear plan for the economy and it is placing the private sector at the forefront of being a driver for growth. “Sometimes you need to slowdown, reorganise and think about how you will relaunch in an industry that has seen oil prices decrease by more than 50 per cent. But we have seen positive indicators. Abu Dhabi has a mind-set that the private sector should move the economy in Abu Dhabi forward,” he said.

“We look at the public sector to have a better and fruitful dialogue with private sector. Because both need to work together and be able to move the economy forward,” he said.

He stressed on the need of cooperation with the private sector to take risks and employee young Emirati nationals to move the economy forward.

Al Nowais said that he is looking forward to work on more ADNOC projects as they are tendered to enhance the economic growth of Abu Dhabi.

Manufacturing will be an important aspect of oil and gas industry’s growth, Al Nowais said, adding that if business plans are stable, then manufacturing industry will fuel the growth.

“Manufacturing should be the industry to feed the oil industry, petrochemical or any other area in Abu Dhabi. Concentrating in the industry with sustainable projects will definitely be important,” he said.

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