Caterpillar Inc and Altaaqa Global Signs IPP Agreement
Online, April 21, 2013 (Newswire.com) - Caterpillar Inc. has entered into an international power projects (IPP) agreement with Zahid Group, which recently formed a new subsidiary company, Altaaqa Global. As an IPP partner, Altaaqa Global will provide multi-megawatt temporary power solutions around the world, supported by partnerships within the worldwide Cat® dealer network.
"We have been successfully serving our customers within the Kingdom of Saudi Arabia since our inception," said Fahad Y. Zahid, Executive Vice President of Zahid Group. "In 2004, catering to local needs, we launched Altaaqa Alternative Solutions, which later became the world's largest fleet owner of Cat Rental Power with over 750MW in its inventory. Through this IPP agreement, our new subsidiary, Altaaqa Global, will enable us to strengthen our position as a leading provider of turnkey temporary power solutions, now at a global level."
"Zahid Group has demonstrated a proven track record of excellent customer service for more than 60 years," said Bill Rohner, Vice President of Electric Power at Caterpillar. "Having them as a strategic partner will help expand Caterpillar's evolving role in the IPP market."
"Caterpillar's global presence and Altaaqa Global's temporary power expertise is a powerful synergy," said Steven Meyrick, Managing Director of Altaaqa Global. "Bringing power to solutions is what we are offering. Bringing power where it is needed, when it is needed."
"Our temporary power plants are mobile, easy to deploy and quick to install," said Peter den Boogert, General Manager, Business Development of Altaaqa Global. "We can intelligently generate electricity within weeks in Africa, the Middle East, Latin America, Asia and the Pacific."
Based in Dubai, United Arab Emirates, Altaaqa Global will provide fast-track and large-scale temporary power solutions from 20MW to 100MW and more, offering gas, diesel or dual fuel technology to various sectors such as oil & gas, power utilities, mining, government services, military, manufacturing and construction. The company aims to serve its customers with engineered solutions tailored to the specific requirements of each industry. Highly experienced Cat power generation consultants along with a specialized power generation team from Altaaqa Global are fully aligned right from the planning phase, ensuring that the technical and logistical aspects of projects are addressed both effectively and efficiently.
For more information, visit altaaqaglobal.com/pr or e-mail info @ altaaqaglobal.com.
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About Caterpillar
For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.1 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services.
CAT, CATERPILLAR, their respective logos, "Caterpillar Yellow", the "Power Edge" trade dress, as well as corporate and product identity used herein, are trademarks of Caterpillar and may not be used without permission.
About Zahid Group
Zahid Group represents a diverse range of companies, offering comprehensive, customer-centric solutions in a number of thriving industries. Some of those include construction; mining; oil & gas; agriculture; power, electricity & water generation; material handling; building materials; transportation & logistics; real estate development; travel & tourism; waste management & recycling; and hospitality.
zahid.com
About Altaaqa Global
Altaaqa Global, a subsidiary of Zahid Group, has been selected by Caterpillar Inc. to deliver multi-megawatt turnkey temporary power solutions worldwide. Altaaqa Global is able to provide large-scale turnkey temporary power solutions anytime, anywhere at extremely short notice. Altaaqa Global has state-of-the-art temporary power equipment and focused expertise to quickly deliver power projects of 20MW to 100MW and more.
altaaqaglobal.com
About Altaaqa Alternative Solutions
Altaaqa is an environmentally responsible provider of electrical power, water and temperature control solutions serving exclusively the dynamic Saudi Arabian market. Operating out of six branches strategically located across the Kingdom, the company focuses on providing added value through fully customizable offerings tailored to specific customer requirements.
altaaqa.com