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One of the world’s leading rail specialists says it is full steam ahead for their Middle East hub of Dubai - as it labels opportunities for the industry in the region as “excellent”.
The booming endorsement of rail in the region comes on the back of the announcement of various large scale train projects across the likes of the UAE, Qatar and Saudi Arabia over the coming years.
Milan-based Valente SpA was established just after the First World War in 1919 and specialises in all aspects of rail and rail accessories – especially crane rail and rolling stock for tunnelling and mining.
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In terms of crane rail, Valente supplies about 20% of world project needs annually.
Valente leader Alberto Menoncello, a graduate of Harvard Business School and a former banker and financier who became an industrialist when he took over the reins of the company in 1992, says the firm’s decision to have their first overseas office in Dubai has been truly vindicated.
Established in the Jebel Ali Free Zone for nearly two years, Menoncello says some 80% of Valente’s sales now come from the Middle East and Far East.
“We prefer to call it sales rather than exports, because when it has become 80% this is no longer exports – this is an international market.
“The Middle East is rapidly developing mass transit systems, intercity railways and ports with all the infrastructure needs that obviously require our speciality.
“Naturally, due to this development programme we have an interest in the UAE and the region.”
In addition to the Gulf, North Africa and the Orient are particular hotspots at the moment.
“Surprisingly, Egypt is doing very well,” said Menoncello. “As is Tunisia, Algeria and Morocco. Libya is going to explode now. Singapore is doing very well and India seems to be moving,” he opined.
Valente is currently active on projects in all of Dubai, Oman, Saudi Arabia, Egypt and Abu Dhabi – with the latter seeing the firm supply rails and fastenings to Emirates Steel in a new sewerage project worth around $2.7m.
The Italian firm also just confirmed deal for work on the first phase of the Jurung Shipyard project in Singapore – work which will be handled from the Jebel Ali office and could be valued at around $6.5m if Valente end up participating in all three phases.
Major past projects include work on the Dubai Metro and the supply of rails and fastening systems for the new plant of a top steel manufacturer in Port Alexandria, Egypt.
And ask Menoncello what he envisages for the prospects of the burgeoning rail projects in the region and the reply is quite simple - “excellent.”
“The region is young, dynamic and with a young, rapidly growing population,” he adds.
“All the major countries in the region have taken a decision to include rapid mass transit and port expansion in their planned infrastructure development and we hope to be part of that growth.”
Hence, Valente is constantly working on boosting its name in the area.
“Dubai has been good to us, Abu Dhabi has been interesting, Oman too,” said Menoncello.
“The approach we have is not to go after the big projects – have something for two years and then nothing.
“If you need one rail, fine we’ll provide it. If you need 100 tonnes, we’ll give it to you. We want to become part of the environment out here.
“We know that it might take some time (but) I want to become the same as we are in Italy and Europe.
“We see Dubai as an excellent mid-world hub from which we can efficiently cover and service our clients and projects from places as far apart as Africa and Asia.
“Dubai’s location, excellent infrastructure and professional services offered to a business like ours make it an ideal choice for a branch office.”
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