EEIC seeks to diversify with landmark Jet Propulsion Center Project

Updated 30 September 2015
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EEIC seeks to diversify with landmark Jet Propulsion Center Project

JEDDAH: A well-established name among Power and Automation solution providers in the Oil and Gas sectors in Saudi Arabia, Electronic and Electrical Industries Corporation (EEIC) is now seeking to diversify into newer markets and industries.
Having catered to industrial infrastructure demands with its integrated Medium Voltage and Low Voltage Power and Automation solutions since 2004, EEIC is now competitively positioned to service the market across sectors. Thus, the company’s recent contract win for the Saudi Airlines Jet Propulsion Center, a subproject of King Abdulaziz International Airport’s expansion plan, marks its move into the transport and terminal market segments, enabling it to leverage the opportunities these present.
The airport’s upgraded facilities and terminals will provide greater efficiency and ease to both passengers and airline operators.
Of these, the landmark Jet Propulsion Center is a prime example.
Covering 60,000 square meters, the state-of-the-art jet engine maintenance and overhaul facility will handle Saudi Arabian Airlines’ existing and new aircraft engines and APUs.
The center is set to be a part of a larger aircraft maintenance campus dedicated to the airline and its customers in its bid to improve productivity and become a recognized third-party maintenance provider.
Moreover, the facility will also be home to a 500 square meters mosque, a courtyard complete with high glass curtain wall systems, an administrative building and associated facilities.
Commenting on EEIC’s scope for the project, Muntaser Kalahji, CEO, said: “We won the order to provide our products and services across the complete power distribution network. Thus, our specialized portfolio included MV Switchgear, Unit substations with MV interrupter switches, MV/LV Dry transformers, and LV Switchgears as well as LV panelboards, surge protection devices and Electrical Power Monitoring Systems (EPMS). Also, since we look to provide our customers with a complete end-to-end experience, testing and commissioning were also part of our services.”
He added: “We have managed to establish ourselves across sectors and are looking to now expand our market coverage to new segments such as the transport segment with this contract. Therefore, the Jet Propulsion Center project is certainly a defining milestone for us as we move forward with our diversification strategy. Also, EEIC is licensed to manufacture and provide integrated solutions in collaboration with leading technology providers which equips us with the expertise to actively expand and adapt our offerings to any project at hand. That is definitely our USP.”
The Center is set to be completed in 2016 as part of the first phase of the King Abdulaziz International Airport Expansion in Jeddah.


‘Huge increase’ in crude prices not expected: IEA executive director

Updated 19 July 2019
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‘Huge increase’ in crude prices not expected: IEA executive director

  • The International Energy Agency is revising its 2019 global oil demand growth forecast down to 1.1 million barrels per day
  • IEA’s Fatih Birol: Serious political tensions could impact market dynamics

NEW DELHI: The International Energy Agency (IEA) doesn’t expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director said on Friday.
“Prices are determined by the markets ... If we see the market today, we see that the demand is slowing down considerably,” said IEA’s Fatih Birol, in public comments made during a two-day energy conference in New Delhi.
The IEA is revising its 2019 global oil demand growth forecast down to 1.1 million barrels per day (bpd) and may cut it again if the global economy and especially China shows further weakness, Birol told Reuters in an interview on Thursday.
Last year, the IEA predicted that 2019 oil demand would grow by 1.5 million bpd. But in June this year it cut the growth forecast to 1.2 million bpd.
“Substantial amount of oil is coming from the United States, about 1.8 million barrels per day, plus oil from Iraq, Brazil and Libya,” Birol said.
Under normal circumstances, he said, he doesn’t expect a “huge increase” in crude oil prices. But Birol warned serious political tensions could yet impact market dynamics.
Crude oil prices rose nearly 2 percent on Friday after a US Navy ship destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows.
Referring to India, Birol stressed the country could cut its imports, amid rising oil demand in the country, by increasing domestic local oil and gas production.
Prime Minister Narendra Modi had set a target in 2015 to cut India’s dependence on oil imports to two-thirds of consumption by 2022, and half by 2030. But rising demand and low domestic production have pushed imports to 84 percent of total needs in the last five years, government data shows.
Meanwhile, the IEA doesn’t expect a global push toward environmentally friendly electric vehicles can dent crude demand significantly, Birol said, as the main driver of crude demand globally has been petrochemicals, not cars.
He said the impact of a serious electric vehicle adoption push by the Indian government would not be felt immediately.