A client in the UAE for an Oil & Gas Project in GCC, issued material to various fabricators/contractors in UAE. The problem remained of the surplus material at various locations across UAE. The surplus consisted of Structural Steel Items. (H-Beam of assorted dimensions).
The company took out the public tender, maximum value that could be realized was 250,000 USD. Management wasn’t happy with the proposition. They started toying with various ideas. One such idea was to increase the geographical coverage of prospective suitors.
We took over the disposal. It was a challenging time. For the first time GCC was about to witness the implementation of taxation. We identified the end users in India, invited them for bidding and assured them for complete logistic support.
The highest suitor M/s United World-Wide Traders, India specializing in building materials, was awarded for 300,000 plus USD. Al Jawadah and Quality Metals in UAE provided logistics support.
The company gained 30% additional value for its surplus.