• Selects DMCC free zone as its global headquarters
• Jumeirah Lakes Towers continues to develop as a regional hub for the commodities industry
Dubai, May 24, 2010: Dubai Multi Commodities Centre (DMCC) announced today that Topaz Energy and Marine has begun operations from Almas Tower as a DMCC-registered company. Topaz Energy and Marine is one of the world’s leading oil and gas focused marine services and engineering companies with a regional footprint across the Middle East and the Caspian.
Topaz will use the DMCC’s Jumeirah Lakes Towers (JLT) free zone in Dubai as its global base to further develop and establish its marine services and oil and gas fabrication business in the region, underscoring Dubai’s strategic role as a significant hub for the energy and marine sector.
“Topaz Energy and Marine’s move to the Almas Tower represents a strong vote of confidence in DMCC’s efforts to establish the JLT free zone as the principal hub for commodities including energy and marine services industry in Dubai,” said Ahmed bin Sulayem, Executive Chairman of DMCC. “With industry-specific market infrastructure and a full range of facilities, Almas Tower is an ideal location for companies from the industry who can utilise the free zone to manage their operations across the region.”
“We are extremely impressed with the quality of the Almas Tower and we believe the JLT free zone is quickly establishing itself as the destination of choice for regional energy and marine companies,” said Fazel A. Fazelbhoy, CEO of Topaz Energy and Marine.
Almas Tower is the purpose-built headquarter, which is located in JLT and caters to the specific needs of the commodities industry, accommodating hi-tech security systems and industry-specific infrastructure for its occupants. DMCC offers resident companies highly attractive benefits, including a 50-year guaranteed tax holiday, 100 per cent business ownership, and full ownership of business premises under a free zone status.
The JLT Free zone is currently home to over 2,000 licensed companies, ranging from commodities to legal, information technology, management consultancy, marketing, medical, tourism and architecture. In addition to being a commodities and energy hub in the region, DMCC also offers a conducive business environment for all types of other licensed activities within its Jumeirah Lakes Towers Free Zone.
Topaz operates under two primary business divisions – Topaz Marine and Topaz Engineering. Topaz Marine; the offshore support vessels division comprises Nico Middle East, Doha Marine Services, Topaz Marine Saudi Arabia, BUE Caspian, BUE Kazakhstan & BUE Turkmenistan. Topaz Engineering comprises Adyard (Abu Dhabi) and Nico International.
