Most of Eversendai Group fabrication facilities and project sites across the Group during the 2020-2021 period could not perform to their capacity due to the various uncontrollable COVID-19 disruptions, restrictions and temporary project stoppages that created unnecessary cost inefficiencies which in turn seriously eroded the bottom line.
However despite this setback, significant milestones were still achieved for the Group such as the strategy of expanding into the European Offshore Wind Renewable Energy sector as it successfully delivered 3 major Offshore Wind projects for Holland and Scotland, United Kingdom in 2021 and 2022 from its water front fabrication facility in Ras Al Khaimah, United Arab Emirates.
The most notable was the 1.1-Gigawatt Offshore Wind Substation Topside Platform and the jacket structure for the Seagreen Offshore Wind Farm project positioning the Group strategically in the offshore wind renewable energy sector not only in Europe but globally and boding well for the future.
Other noteworthy achievements during the Pandemic was the completion of major structural steel works for the World’s Second Tallest Building, the Merdeka PNB 118 in Kuala Lumpur, Malaysia and continuation works on a prestigious 55-storey landmark luxurious tower project located in Rabat, Morocco for a long-term client which has progressed well and nearing completion.
“That as at June 2022 the Eversendai group of companies had been awarded over RM1.6 billion worth of new contracts the last few months in its main markets of the UAE, Kingdom of Saudi Arabia, Qatar, Sri Lanka, India, Singapore and Malaysia from repeat and new clients. The Group’s construction order book currently stands at RM2.13 billion as at June 2022 and is expected to grow further in the coming months,” Tan Sri A K Nathan, the group managing director, further said.
These newly secured contracts include many notable projects such a large prestigious Museum project in Abu Dhabi, the King Salman Park-Loop Bridges Project in the Kingdom of Saudi Arabia, the Cultural Center Education City in Qatar, the Bandaranaike International Airport Development Project, Sri Lanka (funded by the Japanese Government), the Keppel Tower and the Labrador Projects in Singapore and the SK Nexilis project in Sabah, Malaysia. As an added testimony to the Groups ability to deliver, the SK Nexilis project which is a Copper Foil Manufacturing Plant was accepted on a fast track basis to be completed the main structural steel works by end December 2022.
“As the Group moves into the next phase of recovery and rebuilding, we will concentrate on re-shaping the Eversendai Group with a renewed focus on our core fundamental values in geographical regions where we have been traditionally strong to seize the various emerging opportunities. Going into the second half of 2022, there are many interesting and new prospective projects in the pipeline which we are confident we will be able to secure given our strong team, well positioned resources, long term experience and expertise in this industry and support from stakeholders. This combination should enable us to stay resilient against further external shocks and overcome any obstacles and forge ahead with the ability to continue delivering value to all our stakeholders,” said A K Nathan.
