By James Mathew
ULTS is in contract talks with leading companies in the oil and financial sector in UAE and wider Gulf region
UL Technology Solutions (ULTS), the technology company under the Kerala-based fast growing cooperative infrastructure major ULCCS (Uralungal Labour Contract Cooperative Society), is gearing up for an ambitious international expansion, with its first overseas office to be set up in Dubai soon, a senior executive of the group has said.
“We will soon set up an office in Dubai as part of our international expansion plans. The Dubai office will take care of all our proposed projects initially in the GCC area and later on in the larger MENA area,” T S Ravikumar, chief operating officer of ULCCS, told Arabian Business in an exclusive interview.
“After the Middle East, we also plan to set up an office in the US to enter the market there,” he added.
USTL’s decision to zero in Dubai for its first overseas centre in is line with the growing trend of many Indian companies preferring Middle East as their first port of call in their international expansion plans.
Bengaluru-based fresh marine and meat online platform FreshToHome and fitness and wellness firm Cure Fit were among the recent crop of Indian companies that have opted for Dubai for their initial international foray.
USTL plans to start off with a mix of Indian and local employees for its Dubai operations, with gradual increase in the intake of local staff with expansion of the operations.
Specialising in disruptive technologies such as artificial intelligence (AI), Blockchain and GIS, ULTS is currently understood to be in advanced stages of negotiations for multi-million projects with some of the leading companies in the oil and financial sector in UAE and the GCC region.
The company has also mooted the idea of implementing disruptive technology-based solutions to deal with solid waste management in the UAE. ULTS has signed up with a Japanese company for an advanced technology for recycling of waste with zero carbon emission.
“We have self sufficiency in Geo Special Field which, we think, will give us a great advantage in building up a sizeable business in the Middle East,” Kumar said.
“With Dubai and Abu Dhabi fast emerging as major financial centres, we hope to bag several Blockchain, AI and other disruptive technology-based projects in the this sector.”
Kumar said the company was already discussing projects in this sector with some of the leading financial institutions and companies in UAE. However, he did not disclose the names of the UAE companies because of confidentiality issues.
ULTS already is a software solution provider in the field of synchronising satellite and GPS technologies to several government agencies, public and private companies in India.