GLO Marine is targeting revenues of more than USD$57.47 million (€50 million) by 2030 as it prepares to establish a permanent operation in the Middle East and bring its new USD$6.9 million
GLO Marine is targeting revenues of more than USD$57.47 million (€50 million) by 2030 as it prepares to establish a permanent operation in the Middle East and bring its new USD$6.9 million (€6 million) Technology Centre in Romania into commercial operation.
The two investments sit at the center of a wider growth plan that will see the company expand from its established marine and offshore engineering base into larger integrated project scopes, technology integration and a broader international delivery network.
One of GLO Marine's founders will lead the Middle East business and relocate to the region to establish the operation, with Dubai and Abu Dhabi forming the initial focus.
Romania will remain the company's engineering and project delivery base, while the Middle East, West Africa and North Sea have been identified as the principal markets for international expansion.
Permanent Middle East operation
The Middle East business will focus on specialized drydock works, vessel modifications, engineering and systems integration, alongside installation and commissioning support for equipment manufacturers.
The operation is being developed in partnership with a small number of selected companies with an established track record in the region. These partnerships will provide access to local facilities, skilled technicians and tradespeople,
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