Despite the recent global oil price slump that has driven a slowdown in regional construction spending, MVL Group reported a steely financial performance in 2015. The consultancy recorded $185.1m (AED680m) in earnings during the year, and its projected revenues for 2016 are $217.8m (AED800m).
MVL started life as a materials supplier and logistics provider, catering to prime contractors for United States defence projects in Afghanistan, and has rapidly expanded across other lucrative sectors in the region. Managing director Abie Musa led the company to the completion of projects worth $272.2m (AED1bn) last year.
The UAE-based company is also involved with regional industry bodies, such as United States Army Corps of Engineers (USACE), Dubai Civil Defence, Abu Dhabi Air Force, and United Laboratories. MVL is currently four months ahead of schedule on the Defence University project in Kabul, which is being developed for the USACE.
MVL Firestop Technologies, a subsidiary of MVL Group, has also gained traction with local contractors in the UAE, having been authorised by Dubai Civil Defence for the supply of fire-stopping services and supplies.
Musa told Construction Week that MVL has entered the region’s development sector, and intends to break ground on “at least one high-quality” mid-rise project in 2016.
Musa continued: “MW-OCS, a UK subsidiary of MVL in the oil and gas space, has made major inroads in the UAE, having been appointed the approved process technology providers of separation equipment, such as desalters and separators, to major operators such as ADCO and ENOC.”
Defence prime contracting, oil and gas, and fire-stopping will be MVL’s key areas of focus in 2016, the managing director added.
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“MVL is also bidding on numerous large-scale defence projects for the US Airforce, NATO, and USACE in Afghanistan, Saudi Arabia, Qatar, Bahrain, and Kuwait,” Musa explained.