Qatar's Energy Minister and US Secretary of Energy Attend GE Exhibition
Doha, Qatar, November 15, 2005 : GE, the global technology, media and financial services company, celebrated "GE Day" with key announcements on new landmarks on Qatar's horizon -- a new corporate office building in Doha and a master plan to open a new GE Oil & Gas service center in Ras Laffan.
Inaugurating GE's new corporate office, HE Abdullah Bin Hamad Al-Attiyah, Qatar's Minister of Energy and US Secretary of Energy, Samuel W. Bodman, witnessed presentation plans of GE's new Oil & Gas service center from Ferdinando 'Nani' Beccalli, President and CEO of GE International, Nabil Habayeb, President and CEO, GE Middle East & Africa together with GE's Oil & Gas President, Claudi Santiago. It was announced that an investment of over US$30 million over the next five years would further expand the company's on-the-ground presence and operations in Qatar, with the goal of underlining GE's commitment to its partners and customers.
The new GE Corporate multi-storey office building, located on the C-Ring Road and occupying a total space of 8,000 square meters, will house the company's wide range of businesses from energy, water technologies and security to advanced materials, healthcare as well as the consumer and industrial division responsible for appliances and lighting.
More than 300 government officials, customers, students and employees attended this landmark "GE Day"; an exhibition showcasing the company's diverse businesses. Beccalli said, "GE's portfolio of innovative products and services puts the company in a unique position to provide infrastructure, industrial and healthcare solutions for Qatar - a country with tremendous growth potential - and the company is looking forward to tapping into those opportunities.".
"Witnessing Qatar's spectacular growth over the past few years, we look forward to further expanding our roots here and be present with our entire portfolio of innovative products and services. Being a 'total solutions' company, we hope to play a key role in the country's infrastructure development including power generation, oil and gas, healthcare, security as well as aviation - all areas where GE is a worldwide leader," said Habayeb.
GE's new Oil & Gas service center is designed to support the maintenance of GE gas turbines and compressors installed in Qatar, and will be a GE "Center of Excellence" for service activities across the Middle East and other regions.
GE has supplied gas turbines, compressors and other equipment to support Qatar's natural gas and LNG industries for more than 35 years. "This initiative reflects GE's strong commitment to expanding our presence in Qatar, which is one of the fastest growing centers for the global oil and gas industry," said Santiago.
The new GE service center will include a repair shop, offices, a warehouse and auxiliary facilities. Total plant area will encompass more than 25,000 square meters with the covered area including more than 4,000 square meters. More than 100 people will work in the Qatar service center over the next few years, including engineers, project managers, workshop technicians, technical advisors, supervisors, and commercial and finance managers.
"Working in coordination with GE offices in Doha, the service center will represent a reference point for GE's already existing local capabilities such as field service, installation, commissioning, trouble-shooting, warranty management support and related services for GE equipment," said Santiago.
"Most importantly, the new center will introduce into Qatar new high-technology capabilities for the inspection and repair of rotating equipment," he added. "It provides a focal point for GE's state-of-the-art repair technologies in the region."
Habayeb concluded, "GE Day is focused on consolidating our relationship with key customers. Qatar provides the ideal opportunity to demonstrate the essence of what we believe in -- to provide market-driven, customer-focused innovations that deliver total solutions for our customers. Customers can see first-hand the wide range of our portfolio and how our businesses offer innovative integrated solutions."
With regional headquarters in Dubai and a network of offices across the GCC and Levant, GE has established a commanding presence in the Middle East and has built an extensive client base. GE, which employs more than 1,000 people in the region, has also invested in numerous joint venture enterprises and its own facilities in key markets.
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
GE has been active in the Gulf since 1933. Its activities in the region are conducted through direct presence, joint ventures, strategic alliances, and a wide network of distributors. GE has completed strategic projects in various hi-tech industrial sectors, defence-related contracts and major infrastructure developments.
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