Ahmad Al-Rasheed

Can you provide an overview of the company’s current trajectory and its primary areas of operations in Kuwait?

HOTECC was established in 1974, initially focused on oil and gas projects in Kuwait and starting with capital of KWD7,500. Its breakthrough came in 1980 with the Construction of Boilers at Doha West Power Station, and over the years, the company expanded its portfolio to include the civil sector, infrastructure, and buildings. In 2002, HOTECC achieved prequalification in the government and oil and gas sectors, securing projects with KOC and KNPC and other ministries. Capital growth subsequently followed, reaching KWD11.2 million in 2020. This growth reflects the trust placed in our operations by our shareholders as well as the banking sector. Between 2022-2023, our revenue increased by 23% while shareholders’ equity grew by 72%, and our assets increased by 25%. To date, HOTECC manages contracts and projects that are worth approximately USD1 billion. Prequalified in all categories for Kuwaiti companies, HOTECC is among the top five contenders in oil and gas, infrastructure, and building projects.

What differentiates HOTECC from its competitors?

We differentiate ourselves in two key aspects. First, we emphasize delivering high-quality work, setting us apart from competitors that are solely focused on budget and profits. Second, we foster a partnership mindset in our contracts. We do not just view the clients as just clients; they are our partners, and we are committed to fulfilling their needs for mutual success. This approach resonates across sectors, especially in the private sector like EQUATE, leading to contract renewals and even getting approached continuously by international companies. Our team’s background in oil and gas contributes to this unique perspective. Internationally, we adopt a seamless approach similar to major corporations like BP or Chevron, treating our team as an integral part rather than distinguishing between contractors and company employees. This collaborative mindset enables us to provide exceptional services. Our company maintains stringent safety and quality control standards for which we take a great pride in surpassing expectations.