Crescent Enterprises

From Wikipedia, the free encyclopedia

Crescent Enterprises
IndustryConglomerate
Area served
Worldwide
Key people
Badr Jafar
(chief executive officer)
Products
Websitecrescententerprises.com

Crescent Enterprises is a multinational company headquartered in the United Arab Emirates. According to Crescent Enterprises, the company employs over 3,000 people in 22 subsidiaries and affiliates across 15 countries.[1] Badr Jafar heads the company.[2]

Crescent Enterprises is a subsidiary of the Crescent Group, a family business group operating in the MENA region since 1971. Crescent Group's other subsidiary, Crescent Petroleum, is an oil and gas company in the Middle East.[3][4]

History[]

Crescent Enterprises was founded in 2007 as a subsidiary of the Crescent Group. The company has invested in companies such Growthgate Capital, TVM Capital Healthcare Partners, FIM-IBC MENA Real Estate Opportunities Fund, Siraj Palestine Fund I, Gama Aviation PLC, and Samena Limestone Holdings.[5][6] In November 2017, the company announced plans to invest up to US$150 million (AED 550 million) over three years till 2020, making it one of the largest corporate venture units in the Middle East and North Africa.[7]

Crescent Enterprises includes companies such as the Gulftainer Group, Momentum Logistics, and Uruk Engineering & Contracting.

Subsidiary Description
Gulftainer Gulftainer Group, established in 1976 in the UAE, is the world's largest privately owned, independent port management company, operating in nine countries across five continents and handling over six million TEUs (twenty-foot equivalent).[8] The company established the Sharjah Container Terminal at Port Khalid, the first container terminal in the Middle East, and operates Khorfakkan Container Terminal. In 2014, Gulftainer became the first and only Middle Eastern port operator with a strategic presence in the Americas, with a 35-year concession at Florida's Port Canaveral. In March 2018, Gulftainer announced winning a 50-year concession to operate its second US port in Wilmington, Delaware.[9]
Momentum Logistics Momentum Logistics is a wholly owned subsidiary of Gulftainer. It provides transportation, freight forwarding, warehousing, and logistics.[10]
Uruk Engineering Uruk Engineering & Contracting specialises in engineering, procurement and construction (EPC) with projects ranging from power, oil and gas, petrochemicals, waste water and infrastructure. The company has executed over US$800 million worth of projects in the Iraqi power sector since 2010, providing electricity to more than 100,000 homes. Uruk is the first EPC contractor to complete an Iraqi Ministry of Electricity Fast Track project, executing the 724 MW and US$540M power plant project in El Mansouria in partnership with Alstom.[11]

See also[]

References[]

  1. ^ "Crescent Enterprises Taps into Africa's USD 75bn E-Commerce Sector with Strategic Investment in Mara Group". 21 June 2016. Retrieved 3 July 2016.
  2. ^ "Succession failure". The Economist. Retrieved 30 June 2016.
  3. ^ "Strong governance to boost resilience of Mena economies". GulfToday. Retrieved 3 July 2016.
  4. ^ "Crescent launches $150m venture capital division". Saudi Gazette. Retrieved 9 March 2018.
  5. ^ "Siraj Fund Management Company signs $30 million financing agreement with OPIC". Zawya. Zawya. 22 May 2010. Retrieved 8 July 2012.
  6. ^ "GrowthGate Acquires Part of Saudi Food Services Company "International Foods"". Zawya. Zawya. 10 October 2010. Retrieved 8 July 2012.
  7. ^ "UAE'S CE Ventures Plans To Invest $150 Million by 2020". InvestSize. Retrieved 30 September 2019.
  8. ^ "Gulftainer docks the largest UASC vessel in the region". Arabian Supply Chain. Zawya. 14 March 2012. Retrieved 8 July 2012.
  9. ^ "Gulftainer chief promises jobs as board gives blessing to port privatization effort". Delaware Online. Retrieved 8 April 2018.
  10. ^ "Momentum Logistics celebrates 10th anniversary". Construction Business News. Retrieved 18 September 2019.
  11. ^ "UAE Uruk opens Taji Power Plant Project". Zawya. Zawya. 27 May 2012. Retrieved 8 July 2012.
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