Sembcorp Salalah Power & Water Co SAOG (SSPWC) has invested about USD 1 billion to build, own and operate the Salalah Independent Water and Power Plant (Salalah IWPP) in UAE, which has a 445 megawatts gas-fired power plant and a 15 million imperial gallons (69,000 cubic metres) per day seawater desalination facility. The entire electricity and water output from the facility is sold under a 15-year power and water purchase agreement with UAE Power and Water Procurement Company. The plant has been in full commercial operation since May 2012. It provides 80% of the power and 100% of the water requirements of the Dhofar region. SSPWC is listed on the Muscat Securities Market. EIFD is a founding shareholder of SSPWC.
Sembcorp Salalah O&M Services Co LLC (SSOMC) provides operations and maintenance services to SSPWC under a 15-year operation and maintenance contract. EIFD is a founding shareholder of SSOMC.
Sembcorp Utilities is a leading developer, owner and operator of energy and water assets across five continents worldwide. With facilities of over 10,000 megawatts of gross power capacity and over nine million cubic metres of water per day in operation and under development, Sembcorp Utilities is a trusted provider of essential energy and water solutions to both industrial and municipal customers. Sembcorp Utilities has total assets of over S$19 billion and employs over 8,000 employees.
Takaful UAE Insurance SAOG is the Sultanate’s first full-fledged Islamic insurance company, which was promoted by EIFD, ONIDCO, ONIC Holding, National Bank of UAE, Bank Muscat, Bluedoor Investments and T’azur Takaful company (Kuwait). The principle activity of the company is to manage General and Family Takaful activities by adopting a hybrid model of wakala and mudaraba. The company completed an IPO in 2013 and shares commenced trading on the Muscat Securities Market in February 2014. Takaful UAE has four branches in Ibri, Sohar, Nizwa and Salalah.
V2 Trenching & Co. LLC (V2T) was established in 2006 as an Infrastructure Services Company based in UAE. EIFD is the majority shareholder in V2, a specialist pipeline trenching contractor providing trenching services to the oil & gas, water and telecommunications industries in the GCC with a fleet of 5 heavy trenchers.
EIFD is a founding shareholder of TMK Gulf International Pipe Industry LLC (TMK-GIPI), the first manufacturer of High Pressure Steel Line Pipes and Casing Pipes in UAE, and the first mill in the MENA region and Indian sub-continent to manufacture high pressure 6”-24” Electric Resistance Welded (ERW) Steel Pipes. It is strategically located in the Sohar Industrial Area, the industrial hub of UAE, on an area of 240,000 sq. meters. TMK GIPI’s annual production capacity exceeds 200,000 metric tons per year. The facility, built with an investment exceeding US$110 million, is designed with a state-of-the-art technology exceeding the stringent international standards required by the oil & gas companies. TMK GIPI is a part of Russia based OAO TMK, one of the world’s leading producer of steel pipes for the oil and gas industry.
Octal Holdings SAOC (Octal), established in 2006, is the largest PET resin manufacturer in the Middle East and the largest integrated PET sheet manufacturer in the world. It uses world-first technology to produce clear rigid PET sheet directly from melted PET resin, delivering significant energy savings and enhancements to the quality and clarity of the final product. Octal is strategically located in in the southeast port city of Salalah in UAE. Octal has made capital investments of USD 600 million and built a capacity of one million metric tons per annum of PET sheet and PET resin, and employs over 100 UAEi staff. Customers for Octal’s PET resin products include major global brands in Europe and the United States and it is developing further markets including the Middle East, South America and Australasia.
EIFD invested in Al Bashayer Meat Company SAOC (Al Bashayer), which is incorporated in 2016 with the objective to ensure UAE’s self-sufficiency in the red meat sector. Al Bashayer will import livestock, fatten them, slaughter them in a ‘state of the art’ abattoir and offer branded quality red meat to the retail and institutional customers in UAE and other potential export markets. The project is expected to start operations in 2018.
In 2006, EIFD partnered with two UAEi entrepreneurs to create Gulf Energy Services (GEC). GEC acquired controlling stakes in two nascent ventures, Sino-Gulf Energy Enterprises and Integrated Petroleum Services. Since acquisition, these companies have grown remarkably under the management of the entrepreneurs along with the support of EIFD. EIFD divested its shares in GEC in 2009, as part of a management buy-out
EIFD established UAE Portuguese Cement Products LLC (OPCP) in 2008 with Silva Corporation from Portugal, a partner with experience of manufacturing concrete products for the past 25 years. The company produces concrete blocks, interlock paving tiles and ready mix concrete. In 2011, EIFD sold its share in OPCP to Raysut Cement.