Company: CSCEC ME
Designation: President and CEO
Topping Construction Week’s 2016 Power 100 is last year’s runner up, Yu Tao. As president and chief executive officer of China State Construction Engineering Corporation Middle East (CSCEC ME), Tao has witnesses a plethora of deliveries and contract wins over the past 12 months.
The Chinese contracting giant’s Middle East division, which boasts a workforce in excess of 10,000, achieved revenues of more than $650m in 2015, representing a net profit of 2%. This year, Tao and his team expect revenues of $870m.
Over the past year, CSCEC ME has led construction at a number of high-profile GCC projects, with particular emphasis on the UAE. Most recently, it completed works at Dubai’s Al Hikma Tower, and Abu Dhabi’s City of Lights, Al Shamkha, and Al Falah Interchange developments.
This year, Tao and his colleagues will continue to build Viceroy Palm Jumeirah Dubai, Hameni Tower, Akoya, and Al Wasl Interchange.
In neighbouring Abu Dhabi, the contractor is working in conjunction with an array of construction outfits to build Midfield Terminal Complex (MTC). CSCEC ME was appointed sub-contractor for the fabrication and erection of the 45,000-tonne central steel structure at Abu Dhabi International Airport’s new terminal. It is also acting as sub-contractor for mechanical, electrical, and engineering (MEP) works at the site.
Outside of the UAE, Tao’s team has made significant progress in Kuwait. CSCEC ME is working as the main contractor for Sabah Al-Salem Kuwait University City’s academic support facilities (ACSF) – a project divided into six main packages, which will include 27 buildings spread across a built-up area of approximately 21.3ha.
At a strategic level, Tao foresees a long-term upside to the lacklustre oil price that has been causing short-term problems for the GCC’s construction community.
“The falling oil price may enhance government participation in public-private partnership (PPP) projects,” he told CW. “Our parent company has many years of experience constructing overseas PPP megaprojects.”