DUBAI, 16 October 2006 — Det Norske Veritas (DNV), a major international provider of services for managing risk, has announced it will open a series of new and enhanced office locations throughout the Middle East and India due to escalating revenues that are estimated to reach $45 million by the end of 2006.
DNV has already planned for new and extended offices in Tehran, Sohar (Oman), Abu Dhabi and Visakhapatnam in India to become effective by 2007. This is in addition to new and enlarged offices opened so far this year in Bombay, Doha, Fujairah, and later this month DNV will open its new flagship office in Dubai. In total DNV will have 26 offices throughout the region in Saudi Arabia, the UAE, Kuwait, Bahrain, Oman, Iran, India and Sri Lanka. Eivind Grostad, senior vice president and regional manager, DNV Middle East & India, said: “Our strategy for growth has been underpinned by constantly reviewing and implementing our own rigorous quality standards. Our organizational structure and sound financial procedures support that ethos. Our decision never to compromise on quality and safety has helped to build DNV in to a reputable world class organization.”
Established in 1864, and headquartered in Oslo, Norway, DNV is an independent foundation with a mission to safeguard life, property and the environment. With 300 office locations worldwide and over 6,000 employees, DNV competes in multiple industries. However the company focuses on four major industries where they have a strong market presence, maritime, oil and gas, process and transportation, which covers rail, automotive and aviation.
Indeed it is the maritime industry that is fuelling the growth in DNV’s regional expansion plans. They have secured more than 50 percent of all new shipbuilding contracts for owners from within the region over the last three years and so far this year, they have delivered 14 vessels with a combined deadweight tonnage (DWT) of 1.24 million. Projections for 2007 and 2008 indicate a further 79 vessels with 6.6 million DWT will be delivered to owners with DNV class.