Industry

Kevin Franklin, CEO of 3t (left) with Mario Nahas, CEO of GTSC. (Image source: 3t)

3t, the UK-headquartered training provider for safety-critical industries, is bolstering its presence in the UAE, Saudi Arabia and Egypt with the acquisition of GTSC, the largest energy training business in the Middle East

In its seventh acquisition since 2017, 3t, which has longstanding relationships in the region, has acquired GTSC from Al Mansoori Specialized Engineering, with more than 100 GTSC employees and several purpose-built training facilities. It runs an extensive array of industry-accredited technical, offshore survival, HSE, firefighting and road safety training courses.

With its recent acquisitions, 3t is set to see its revenue top US$100mn in 2024, following strong profitability and growth in 2023. 3t provides more than 600 different training courses at 11 global centres, training more than 100,000 people every year to the highest industry standards. Its training provision is marked by a strong learning technology offering which includes its world-leading simulators, state-of-the-art virtual reality and digital twin technology, as well as a host of digital learning solutions and programmes. 

With the training and development of skilled local workforces a high priority, the acquisition will ensure personnel in the Middle East in safety critical roles across sectors including renewables and oil and gas meet the highest levels of safety, compliance and competence. 

Kevin Franklin, CEO of 3t, said, “The Middle East is booming with projects across the whole energy spectrum; demand for world-class training and skilled workforce is high. Our offer of exceptional quality training and technology has proved compelling. The GTSC team has developed a strong business that is highly respected, with a track record that speaks for itself – we complement each other well, allowing us to invest and build a stronger service for our customers.”

Hanadi Khalife, head of Middle East, ICAEW. (Image source: ICAEW)

Economic growth in the Middle East is projected to rise to 3.5% in 2025, up from at 2.1% in 2024, according to the latest ICAEW Economic Insight report for the region, driven by the expected unwinding of oil production cuts by OPEC+ and continued strength in non-energy sectors

The extension of oil production cuts by OPEC+ has led to a slight downward revision of the GCC's 2024 growth forecast to 2.1% from 2.2% three months ago. While this reflects the temporary impact on the region’s energy sector, the outlook for 2025 remains optimistic as oil production increases, providing a strong boost to the region's economies. The GCC region is poised for a significant rebound, with growth projected to more than double to 4.4% in 2025 as oil production cuts are gradually phased out.

Resilient non-energy sectors

The report, prepared by Oxford Economics, highlights the resilience of the GCC's non-energy sectors, which are expected to expand by 4.4% in 2025. Strong domestic momentum, along with anticipated interest rate reductions, is expected to boost consumption and private investment, while non-oil sectors including tourism, trade, and finance, are becoming crucial growth drivers in the region’s economic diversification efforts.

Kuwait's economy is forecast to grow by only 0.5% due to ongoing oil production cuts, but is expected to rebound to 2.5% in 2025-26. The recent discovery of the Al-Nokhatha oil field, with estimated reserves of 3.2bn barrels, will have a positive impact on the oil sector, supporting Kuwait's aim to expand production output to 4mn barrels per day by 2035.

Oman's economy is projected to achieve a growth rate of 1.5% in 2024, supported by a resilient non-energy sector, rising to 2.3% in 2025, as oil production restrictions are eased. Oman's public finances remain robust, and the country's commitment to fiscal reforms and diversification efforts has resulted in Moody's upgrading Oman's Ba1 credit rating to positive.

Hanadi Khalife, head of Middle East, ICAEW, said, “The report underscores the importance of resilience in navigating global economic and regional geopolitical headwinds. We are confident that the Middle East's business community, supported by the expertise of the accountancy profession, will continue to demonstrate its ability to innovate and thrive amid these challenges.”

Scott Livermore, ICAEW economic advisor, and chief economist and managing director, Oxford Economics Middle East, said, “The GCC’s proactive and strategic investment in non-oil sectors, alongside the gradual recovery of oil production, is paving the way for robust growth in 2025. In a global environment of slowing economic growth, the resilience of the GCC stands out. The region’s strong performance across both energy and non-energy sectors – particularly in tourism, trade, and finance – positions it for sustained success in the coming year.”

The MABI Bingo 2 EVO. (Image source: MABI AG)

MABI AG, a leading supplier of sheet metal working machines for insulation technology, is showcasing its latest innovations at Gastech 2024 in Houston, Texas

These include the new MABI Bingo 16-Z EVO, which offers customers an "all-in-one" package in the smallest possible space, including a cutting system with integrated pipe line.

The fastest pipe line, MABI 16-4Z Classic, produces up to 10 ready-to-assemble metres of pipe meters per minute, while the incomparable MABI Bingo 2 EVO is also on the stand as the top model among the cutting machines.

MABI’s cutting machines have a high reputation worldwide thanks to innovative software. MABI’s cutting machines feature its MABI IsoPlaner digital measuring system, developed taking the familiar environment of the surveyor consistently into account. From the site measuring sheet to production, it is simple and clear. Clear symbols such as the marking of the seam position are indications of the simple operation and typical MABI user-friendliness.

The Industry 4.0 interface enables data retrieval in real time. Data can be queried in real time and processed externally.

Data-based services offer the opportunity to continue to produce successfully and cost-efficiently in the future. With MABI Smart Factory, the information relevant to your machine is always available at the right time.

MABI AG is exhibiting on Stand B384 at Gastech in Houston Texas from 17-20 September, where it is demonstrating a complete workshop including the digital measuring system.

TAQA has launched a new brand identity. (Image source: TAQA)

Abu Dhabi National Energy Company (TAQA), the integrated utility company, has launched a new brand identity for its group of companies

The rebranding underpins the company’s strategy to increase awareness of extent of TAQA’s utility activity covering the entire utility value chain, as it pursues growth through delivering integrated power and water services in the UAE and internationally.

Under the new brand identity, Abu Dhabi Distribution Company (ADDC) and Al Ain Distribution Company (AADC) will be brought under a single new brand, TAQA Distribution; Abu Dhabi Transmission and Despatch Company (TRANSCO) will become TAQA Transmission; Sustainable Water Solutions Holdings (SWS Holdings) will be rebranded as TAQA Water Solutions; and Abu Dhabi Energy Services (ADES) will become TAQA Energy Services.

Boosting awareness

Jasim Husain Thabet, TAQA’s Group chief executive officer and managing director, commented, “In the past four years we have been driving improvements in the performance of TAQA’s operating companies and growing our business. These changes to the brands of our operating companies will provide a major boost to the awareness and understanding of the scale and breadth of TAQA’s role in Abu Dhabi and the scope of our activities as one of the largest integrated utilities in EMEA and a national champion for the UAE. TAQA’s operations underpin part of the daily life of millions of people globally through the power and water services we provide. We take our responsibility very seriously and are determined to continue to be at the heart of the UAE drive towards net zero and to play our role in the energy transition.”

Omar Al Hashmi, TAQA Distribution’s incoming chief executive officer, added, “ADDC and AADC have powered our communities for decades, ensuring that essential energy and water is delivered to every home in Abu Dhabi. Unifying the two will create a distribution powerhouse, with the scale and capability to support TAQA’s overarching mission of being a low-carbon power and water champion.

“Combining the strengths and talents of both into a single entity will enhance the service we provide to our customers while also creating a more dynamic and more innovative organisation. As TAQA Distribution, we are committed to continuing to serve our communities while adhering to the utmost standards of excellence.

“Moving into 2025, the rebrand will allow TAQA’s market leading businesses to build on their track record of operational excellence, with a continued focus on building its digital and advanced technology capabilities and strengthening its strategic partnerships to support TAQA’s long-term growth in line with the Group’s sustainability and ESG targets.”