An oil conglomerate with a strong presence in the Middle East region is also a household name in North Africa, and a significant factor in the region's energy economy.
Foresight Group International Ltd. (FGIL) handles a total of global operations valued at approximately $1.5 billion. The London-based group focuses mainly on the oil and gas industry.
FGIL is set up to participate in the Abu Dhabi International Petroleum Exhibition and Conference, where the company will show off a newly launched division and inform those in attendance about other big changes going on within the firm. Maghreb News Wire caught up with Dr. Ravi Kumar Mehrotra CBE, Founder and Executive Chairman of Foresight Group International on Nov. 15 to ask about North African markets.
“We have recently named Dubai as the site of our new global operational headquarters for group’s diversified operations,” Mehrotra said. “Setting up our headquarters in the emirate allows us to strategically connect to important and emerging international markets, including the North African region.”
Mehrotra talked about how new administrative changes will allow the company to reach further into markets like Tunisia and Morocco.
“FGIL maintains a strong global presence -- reaching out to key markets like China, the U.K., Cyprus and India. Placing our global operations hub in Dubai will allow us to further control, develop and grow our business across the Middle East, North Africa and South Asia region -- a unique ability that will not be possible from any other region as compared to the efficiency and dynamism being offered by Dubai and the UAE,” Mehrotra said.
Overall, Mehrotra said, the company considers its new focus on the UAE to be part of a trend that will position parts of that region more centrally in the future global economy.
“Our confidence in the Middle East, particularly the Gulf Council Countries region, is one of the factors that has prompted us to set up our global headquarters in Dubai,” Mehrotra said. “We are upbeat that the region will be the global center of energy markets.”