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Publish Date : 23-Apr-2013

The Saudi Arabian Zahid Group has inked a deal with Caterpillar in order to make the Dubai-based Altaaqa Global – the latest arm of Zahid – an associate of Caterpillar for international power projects (IPP) across the globe.

The Saudi business, the Caterpillar dealer in the Kingdom, has been operating a robust power rental business in the country after its creation of Altaaqa Alternative Solutions in the year 2004.

The establishment of Altaaqa Global will facilitate Zahid to expand its power rental business in the global market, collaborating with other dealers of Caterpillar.

The Zahid Group's Executive VP of Fahad Y Zahid stated, "We have been successfully serving our customers within the Kingdom of Saudi Arabia since our inception."

"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 750 MW 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."

The new entity - Altaaqa Global will give its concentration on large-scale provisional power contracts involving 20 MW to 100 MW and further, and will deliver technology related to gas, diesel or dual-fuel types to numerous sectors like oil and gas, power utilities, mining, government services, armed forces, manufacturing as well as construction.

Caterpillar has shaped many deals with IPP rental companies, including its accord with Zahid. The company has inked such agreements with APR Energy, Energyst, Energy International and APac Energy Rentals during last couple of years.

Caterpillar's VP (Electric Power) - Bill Rohner has stated that their partnership with Zahid Group will facilitate them to enlarge their position in the IPP market.

Altaaqa's General Manager (Business Development) - Peter den Boogert has revealed that the company has been successful to produce energy "within weeks in Africa, the Middle East, Latin America, Asia and the Pacific."

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