UAE: Commodore MEP to form new MEP company
Abu Dhabi-based Commodore MEP plans to form a standalone sister company called Commodore Middle East
Abu Dhabi-based Commodore MEP plans to form a standalone sister company called Commodore Middle East.
Commodore Middle East will offer contracting services, but unlike Commodore MEP, will have a separate trading license to Commodore Contracting.
Commodore MEP general manager, Nasser Ezz Edin, says forming the company has been a priority of senior management for a while and the move will eventually lead to the absorption of Commodore MEP into Commodore Middle East.
“Before the end of the year Commodore Middle East will be operating,” Ezz Edin says. “Step by step we will move people from Commodore MEP to Commodore Middle East.”
The rationale behind setting up the new company, he says, is that it will have greater access to finance by virtue of having its own license. It will be branded as a specialist contractor in the Middle East.
“This is definitely a step in the right direction looking ahead to the next four or five years – not the short-term,” Ezz Edin says. “Once the -political situation starts to settle down, the construction opportunities will start to pick up. So if you have a separate MEP company it will give you better chances to go with all contractors in all countries.
“But we will not delete Commodore MEP, it will be there until it is totally merged with Commodore Middle East.”