Eversendai Corporation Berhad (ECB) expects the Middle East to continue to be its “most productive” region in 2015, the Malaysian steel fabricator says. The firm’s structural steel & plant construction segment generated RM 923.8 million ($249.7m) of revenue last year, of which RM 593.6m came from the Middle East.

“Saudi Arabia is set to become a booming market with the construction of many mega projects as part of its infrastructure plan to extensively develop the nation,” ECB says in a report. “Simultaneously, Dubai’s successful bid to host the World Expo 2020 will present us with many opportunities as they are expected to launch a number of large infrastructure projects as well in the next couple of years. Similarly, we are also enthusiastic and hopeful about our prospects in Qatar with the country currently preparing to welcome a global audience for the World Cup in 2022.”

ECB’s new waterfront fabrication yard in Ras Al Khaimah (RAK), United Arab Emirates, scheduled for completion in October, will soon execute its maiden marine project: the construction of two self-propelled jack-ups. Plans are in place to expand ECB’s Sharjah-based plant “to accommodate the number of contracts that we have already secured in the Middle East as well as those in the pipeline,” the firm comments in the report seen by Kallanish.

Eversendai has a 150,000 tonnes/year steel fabrication capacity spread over its five plants in Dubai, Sharjah, Qatar, Malaysia and India – soon to be 210,000 t/y with the addition of the RAK plant. The firm plans to increase its fabrication capacity in India, as well as grow its newly-established presence in Azerbaijan.

Consolidated revenue in 2014 was up 4% on-year to RM 1 billion, while net profit was down -9% to RM 71.4m. “We readily acknowledge that the year in review has been challenging; however, we are optimistic that we could anticipate a fruitful financial year in 2015 and beyond,” ECB says.