ESBI agrees €30 million Middle East deals

Company due to announce €17 million Saudi project at Dublin Castle event on Thursday

The Saudi project, which will be revealed at ESBI’s 40th anniversary event in Dublin Castle, is part of the “Northern Promise” investment programme that was championed by the late King Abdullah (above) to economically reinvigorate the undeveloped northern part of the world’s biggest oil producer.

The Saudi project, which will be revealed at ESBI’s 40th anniversary event in Dublin Castle, is part of the “Northern Promise” investment programme that was championed by the late King Abdullah (above) to economically reinvigorate the undeveloped northern part of the world’s biggest oil producer.

 

The company will today announce it has won a €17 million contract to manage the construction of a Saudi gas plant, along with 50 megawatts of solar capacity.

It has also this week secured a €12.5 million sub-station contract in Bahrain.

The Saudi project, which will be revealed at ESBI’s 40th anniversary event in Dublin Castle, is part of the “Northern Promise” investment programme that was championed by the late King Abdullah to economically reinvigorate the undeveloped northern part of the world’s biggest oil producer.

The project will involve the dispatch of 40 ESBI staff to Saudi over four years, as well as training 15 Saudi engineers in Ireland.

Ollie Brogan, managing director of ESBI, said the company was targeting the Middle East for further growth. He said ESBI beat off competition from consultancies in Australia, Canada and Europe to land the Saudi deal.

ESBI employs 750 staff, some 650 of whom are based in its Dublin office, although this number will rise with a number of coming projects.

The company is currently waiting on a formal sign-off from the government of Botswana for a major contract for ESBI to effectively run the African nation’s energy company, Botswana Power Corporation. That deal, which is expected to be cleared within weeks, is likely to be one of ESBI’s largest ever contracts.

ESBI is also bidding for a contract as part of an interconnector project linking the electricity systems of Kenya and Tanzania, with documents due to be lodged next month.

It is also in late-stage talks to manage a power plant in Malta, as well as pitching for the operation of two plants in Malaysia.

ESBI has a turnover in excess of €800 million.

Mr Brogan said that the company expected to grow revenues and staff significantly this year, although he declined to reveal the number of new jobs.