Where a century of heritage meets the technology manufacturing of tomorrow
Digital and sustainable solutions across Europe, the Middle East, and Africa
Dronamics is on a mission to transform the face of Europe’s logistics industry. Svilen Rangelov, co-Founder and CEO, joins us to discuss the Black Swan cargo drone platform, which could democratise air freight as we know it
FinanceMalta is the public-private initiative set up to promote Malta as a global financial centre. George Vella , Chairman, reveals all the latest developments
ORICA EMEA
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EDITORIAL
Head of Editorial: Jack Salter jack.salter@outpb.com
Deputy Head of Editorial: Lucy Pilgrim lucy.pilgrim@outpb.com
Welcome to our 68th edition of EME Outlook magazine.
Having transformed the face of Europe’s logistics industry, Dronamics has been on an impressive, impactful journey to revolutionise air cargo.
Gracefully spanning this issue’s front cover is the company’s cargo drone platform, Black Swan, which will soon be commercially operational and democratise air freight by making it more efficient, affordable, and accessible.
Black Swan facilitates point-to-point cargo transportation that unlocks bottlenecks and enables same-day delivery of goods across the continent.
Designed to be deployed at smaller airports and airfields with minimal infrastructure, the cargo drone platform intends to bring logistics closer to the origin of goods, simplify supply chains, and create new efficiencies in terms of time, cost, and emissions.
“Our vision is a world where cargo moves as efficiently and affordably as information, with the Black Swan platform at the centre of a new optimised logistics ecosystem,” outlines Svilen Rangelov, co-Founder and CEO of Dronamics.
Since we last spoke to Orica at the beginning of this year, there has been continuous growth in the mining industry in Europe, the Middle East, and Africa (EMEA).
We deliver the latest on Orica’s recent activities in the EMEA region, including its expanded digital portfolio and newly launched range of lead-free electronic detonators, EBS Neo.
“We have expanded our Orica Digital Solutions portfolio to include Geotechnical and Geospatial monitoring systems,” reveals Diego Vallim, Vice President of Europe, the Middle East, and Central Asia.
“EBS Neo is definitely a game-changer. By removing lead from the entire lifecycle, it helps customers with their ESG,” acclaims Laurence Goodacre, Vice President of Africa.
In our latest interview with FinanceMalta, we catch up again with Chairman, George Vella, who gives us his updated take on the island’s financial landscape over the last year.
“The effectiveness of our courts of law – coupled with the fact we are Englishspeaking, a member of the EU, and possess a very nice climate – combine to make us a burgeoning proposition,” highlights Chairman, George Vella.
Familiar faces such as GO Plc and Somet also feature within this issue, along with globally recognised technology leader KONČAR Group.
We hope that you enjoy your read.
Jack Salter Head of Editorial, Outlook Publishing
Around Europe and the Middle East in seven stories…
BUSINESS TRAVEL
TUTANKHAMUN RESURRECTS FOR THE SPOTLIGHT
FOR THE FIRST time in history, the entire collection of famous boy king, Tutankhamun, will be on public display at Egypt’s new Grand Egyptian Museum (GEM) in Cairo, including his spectacular gold mask, throne, and chariots.
Having only recently opened, GEM is described as the world’s largest archaeological museum, displaying some 100,000 artefacts which cover seven millennia of
history throughout the country. Covering 500,000 square metres, the museum is incredibly expansive and expected to attract up to eight million visitors a year – providing a huge boost to Egyptian tourism, which has been hit by regional crises and post-COVID-19 pandemic financial struggles.
ECONOMY
BUSINESS TRAVEL
LEAD FRENCH DETECTIVE OR TEENAGE MYSTERY ENTHUSIAST?
IN THE WEEKS since the infamous Louvre museum heist that has captured international attention for the brazen act and substandard security of the historical museum, there is still a mystery at large – who was the viral mystery ‘fedora man’ photographed outside the museum?
Many speculated whether he was the lead detective of the case; however, the enigma has been solved with the dandy’s identity revealed as a local teenage fan of Sherlock Holmes and Hercule Poirot, who just happened to be visiting the Louvre with his family on that fateful day.
When asked why he chose to dress this way, the 15-year-old claimed he just likes to be chic.
LISBON WORKERS FIGHT FOR THEIR RIGHTS
WITH TENS OF thousands having taken to the streets of Portugal’s capital city of Lisbon, peaceful protests have emerged in an effort to defend workers’ rights in the country.
The government is seeking to pass a bill in parliament to make it easier for employers to fire people, outsource work to other companies, and limit some types of compassionate leave.
Whilst politicians claim these measures are needed to improve job flexibility and increase productivity in one of Western Europe’s poorest countries, local workers and unions are stating that the proposed reforms are some of the greatest attacks ever made against employees and would result in a real setback in the lives of everyday people.
ENERGY & UTILITIES
HUNGARY EXEMPT FROM RUSSIAN ENERGY SANCTIONS
HUNGARY’S PRIME MINISTER,
Viktor Orbán – known to be one of US President Donald Trump’s closest European allies – has made his country exempt for one year from sanctions over its continued purchases of Russian oil and gas.
This comes after the US blacklisted two of Russia’s largest oil companies in October 2025 and threatened sanctions for those who buy from them.
Hungary has also agreed to buy several hundred million dollars’
RETAIL
worth of US natural gas as part of the arrangement – a deal many European capitals oppose due to Hungary’s continued reliance on Russian energy imports, which is seen as a contradiction to the unified Western front against Russia’s actions in Ukraine.
SAVING SOCIETY FROM POOR FASHION CHOICES
BUDGET E-COMMERCE
RETAILERS like Shein and Temu have notorious reputations for swamping the market with cheap products that undercut local production and cause massive amounts of waste due to questionable durability and short life cycles.
In an attempt to target these harmful corporations, the French parliament is considering passing a €2 levy on low-value, fast-fashion imports.
This initial €2 levy, which the French government forecasts could raise upwards of €500 million by the end of 2025, is expected to rise to a potential €10 per package by 2030.
French Budget Minister Amélie de Montchalin emphasises that this is not a tax on consumers, but a way to increase accountability for those who currently benefit from a system without assuming responsibility.
SUPPLY CHAIN IS YOUR SPAGHETTI FUNDING THE KREMLIN WAR MACHINE?
EVER SINCE THE full-scale invasion of Ukraine in 2022 and despite active EU sanctions, Italian companies have paid over €1 billion in taxes to Russia, with half of this money reportedly having been used to invest in military spending to finance the ongoing war.
This data was compiled by the Kyiv School of Economics (KSE) as part of its KSE Institute’s Leave Russia project, which was launched to create an online database for monitoring the activities of the main multinationals still doing business in Russia over the past three years.
According to data collected by the school, 146 Italian companies still operate in Russia, with giants such as Ferrero, Barilla, and Calzedonia amongst those having maintained their business activities.
LOCAL GOVERNMENT
ROI’S NEWEST PRESIDENTELECT SWORN IN
THE REPUBLIC OF Ireland’s (ROI) 10th President, Catherine Connolly, was inaugurated on Tuesday 11th November at Dublin Castle, with the event being attended by politicians, judges, and other invited guests who witnessed her being sworn into office in St Patrick’s Hall by the Chief Justice of Ireland, Donal O’Donnell.
The 68-year-old independent politician takes over the role from Michael D Higgins, who waves goodbye to a 14-year term.
Having won in a landslide vote against Fine Gael candidate Heather Humphreys, President Connolly has served as a member of the Irish parliament since 2016, and her election triggers a by-election in Galway West to fill her place.
I’m writing this the week after another 2025 sports highlight – a dominant display from the England men’s team to secure victory over the old adversary, Australia, and that’s following a memorable 2-1 win by the British & Irish Lions on tour this summer.
The women’s teams, in particular, have had an exceptional year. Both the Red Roses and Lionesses sealed historic victories, with the latter clinching theWomen’s EURO 2025 for the second time and the former claiming the ultimate prize – the Women’s Rugby World Cup.
Although performance on the pitch steals the headline, behind every winning team, there’s a robust organisation - a unit working consistently to provide the best platform to deliver these results, and that’s where the infrastructure behind the scenes becomes so important.
SPORTS SUCCESS IS GOOD FOR BUSINESS
British sporting success is great for so many reasons – including inspiring future talent, spotlighting new role
SPORTS BUSINESS SUCCESS LIES BEHIND CLOSED DOORS
In a landscape where sporting success drives economic growth, Robert Schogger, coFounder and CEO of MetSpace, highlights the crucial behind-thescenes infrastructure that empowers teams to triumph and positions businesses to thrive
Writer: Robert Schogger, co-Founder and CEO, MetSpace
models, and boosting morale.
On a business level, sporting triumphs create an incredible halo effect that touches a range of other industries and the sector’s growth stats in recent years tell a consistently positive story:
• The sports sector as a whole contributed £99.6 billion in direct economic output in 2021, and the vast majority (£86.8 billion) came
from active sport, including clubs, facilities, and events.
• Globally, 7.3 percent market growth is expected across the sports industry over the next three to five years.
• Adjacent markets such as sports nutrition are also growing at a pace, set to reach £2.57 billion by 2030 (up from £1.38 billion in 2023).
WORKSPACES ARE ONE OF THE BENEFICIARIES
In the workspace sector, we’ve seen a significant impact from the growth of sports this year alone.
We supply managed offices to growing businesses, offering selfcontained, thoughtful workspaces across London.
Managed offices are private office spaces with no shared facilities, their own amenities such as kitchens and breakout spaces, and all services, including cleaning and Wi-Fi, managed for the organisation. Additionally, we’ve experienced an uptick in sports industry enquiries of over 200 percent over the past 12 months.
Although it might sound like a small component of a business operations, we’ve found that the workspace an organisation chooses is actually a crucial cog. It’s a statement of intent – often a platform for future growth and an enabler of bringing the team together in the right environment.
A workspace is also a direct reflection of the business – it should align with their brand, and that’s something that comes across strongly in sports businesses’ office searches.
WHY CHOOSING THE RIGHT ENVIRONMENT IS CRUCIAL
In the last six months, we’ve found offices for the Women’s Super League – marking its first move out of Wembley and into Central London –and professional football clubs from the top two divisions, amongst others.
We’ve also worked with adjacent industries such as sports nutrition businesses to find them the right premises.
There’s a strong case for choosing private, thoughtfully designed and managed offices over shared workspaces, and it seems to be a deliberate choice for sports businesses.
They’re brands first and foremost, and powerful branding is allimportant in the sports world – it’s what fans, sponsors, and talent buy into.
Like performance, it’s not something that comes together
on the pitch, but it’s a consistent presence. With the right managed office environment, sports organisations can reflect and live the brand day-to-day, whether bringing the team together or hosting guests. A good base helps to foster a strong culture.
A managed office can provide the perfect backdrop and allows for more control over the brand experience than shared branded spaces in a serviced office.
Furthermore, privacy is a crucial consideration. Sports businesses focus on negotiations, strategy, and partnerships throughout the working year.
It’s a highly competitive environment, with conversations frequently held behind closed doors. Whether it’s hosting sports stars or arranging deals, managed offices offer more private spaces and fewer shared areas.
Reliability is also crucial in a fastpaced organisation; a sports business can only thrive if its infrastructure is reliable. The beauty of the managed offices model is that everything about their workspace is managed for the organisation by a team experienced in running office environments.
Everything should be considered and taken care of; it needs to be managed seamlessly, behind the scenes, so that the business can focus squarely on its world.
LONG-TERM THINKING FOR LONG-TERM SUCCESS
No sports team finds success after one day’s training. Ask any successful manager, and they’ll tell you about the years of work and preparation that go into helping a team lift a trophy on the day.
Unlike other models, managed offices are designed to provide a stable base for growth. A managed space signals ambition, and in its stability lies a marker – the brand is here to stay, putting a stake in the ground.
In sport, the spotlight is often on the players on game day, when the action happens – and rightly so - but for this public-facing success, the backroom needs to run like a well-oiled machine. The ultimate performance enhancer doesn’t lie on the pitch but behind closed doors.
ABOUT THE EXPERT
As co-Founder and CEO of MetSpace, Robert Schogger has had a remarkable career trajectory. After leaving school at 17, he transitioned from an entry-level role to running his
Today, Schogger uses his experience to help transform workspaces in Central London whilst offering transparent, allinclusive pricing, championing sustainability and environmental, social, and governance (ESG) standards. By aligning with climate action goals, he invites occupiers and landlords to make a positive impact together.
Black Swan
The Future of Air Freight
When the Rangelov brothers founded Dronamics in 2014, they began their mission to transform the face of Europe’s logistics industry. Over a decade later, Svilen Rangelov, co-Founder and CEO, joins us to discuss the Black Swan cargo drone platform – soon to be commercially operational – which will democratise air freight by making it more efficient, affordable, and accessible
Writer: Lily Sawyer
Arguably the backbone of the global economy, rapid and reliable logistics have been key in keeping markets moving and economies thriving throughout history.
Indeed, in a European context, the free movement of goods remains one of the EU single market’s fundamental liberties.
“Logistics today is about more than just efficiency; it’s about sovereignty and resilience, and is the foundation upon which our economy thrives,” introduces Svilen Rangelov, co-Founder and CEO of Dronamics –a company which is aiming to make a significant impact on Europe’s logistics industry as the creator of the world’s first cargo drone airline.
Dronamics’ Black Swan cargo drone
platform facilitates point-topoint cargo transportation that unlocks bottlenecks and enables same-day delivery of goods across the continent.
With over 4,000 airports and airfields – many of which are currently underutilised or inactive – Europe boasts a vast, untapped network that could be repurposed for crucial logistics operations.
Dronamics’ cargo drone platform is designed to be deployed at smaller airports and airfields with minimal infrastructure, effectively reviving these sites.
Svilen Rangelov, co-Founder and CEO
“OUR VISION IS A WORLD WHERE CARGO MOVES AS EFFICIENTLY AND AFFORDABLY AS INFORMATION, WITH THE BLACK SWAN PLATFORM AT THE CENTRE OF A NEW OPTIMISED LOGISTICS ECOSYSTEM”
– SVILEN RANGELOV, CO-FOUNDER AND CEO, DRONAMICS
This is intended to bring logistics closer to the origin of goods, simplify supply chains, and create new efficiencies in terms of time, cost, and emissions.
Beyond powering e-commerce, spare parts, and fresh produce delivery, the company’s cargo drone platform can also serve more critical civil needs, from distributing medical supplies and humanitarian aid to disaster relief and emergency response.
“The same technology that drives commercial growth can also strengthen Europe’s ability to respond quickly and effectively when it matters most,” Rangelov emphasises.
PERFORMANCE, EFFICIENCY, AND SUSTAINABILITY
Having transformed the face of Europe’s logistics industry in just over a decade, Dronamics has been on an impressive, impactful journey to revolutionise air cargo.
Dronamics and the Strategic Development Fund sign joint venture
Upon inception, the company’s founders were making a deliberate choice to solve the middle-mile logistics challenge.
“The middle-mile is where we see the most delays and bottlenecks and is the ripest for technological transformation – especially when it comes to underserved and remote areas,” Rangelov points out.
As such, Dronamics tasked itself with designing a technology that can carry a meaningful payload and travel an equally meaningful distance.
This translated into design decisions that informed its cargo drone platform, the Black Swan.
“We developed a clean sheet aerospace programme from scratch, built and successfully flew the Black Swan prototype, and became Europe’s first licensed cargo drone airline,” he summarises.
The company is also the first cargo drone airline in the world to be issued both an International Air Transport
Dronamics and Aramex
Association (IATA) and International Civil Aviation Organisation (ICAO) designator code – the same credentials that traditional airlines use to operate globally.
Most recently, Dronamics announced a strategic partnership with Japanese mobility manufacturer Kawasaki Motors to integrate advanced aero piston engines into the Black Swan.
This collaboration enhances performance, efficiency, and sustainability, and opens the door to a Japanese-built version of the drone for both civilian cargo and critical civil protection missions.
“It’s a strong validation of the technology leadership we’ve built and a clear signal of our growing global impact,” Rangelov prides.
UNLOCKING ACCESS TO AIR FREIGHT
Interestingly, the Black Swan was not adapted from passenger aircraft –which is where most cargo aircraft originate from.
“Built specifically for cargo, the Black Swan is a lightweight carbonfibre structure with optimised
aerodynamics and efficient propulsion which allow it to carry 350 kilogrammes over 2,500 kilometres at a speed faster than road transportation and cheaper than air,” Rangelov explains.
Indeed, Dronamics reports the Black Swan to achieve up to 80 percent faster delivery times whilst being 50 percent cheaper.
Choosing to operate from smaller airfields as opposed to major hubs –which can lead to an over-stretched budget – has enabled the company to
further cut costs.
Indeed, the aircraft’s simple design and fuel-efficient engine lowers operating costs, whilst its emissions are reduced by up to 60 percent compared to alternative modes of transport, including air freight.
Currently, only one percent of worldwide goods are transported by air due to the expenses associated.
A cargo drone solution such as Dronamics’ could help unlock the other 99 percent – particularly for communities and businesses that
Black Swan exhibition model at the Dubai Airshow 2023 EU Future Mobility Taskforce
currently don’t have access to air freight due to a lack of infrastructure or associated costs.
“Air freight has traditionally been expensive and therefore reserved for high-value goods, leaving many businesses and regions underserved. We founded Dronamics to change that,” he outlines.
As such, the Black Swan platform makes cargo transport faster, cheaper, and more reliable, unlocking access to thousands of smaller regional airports that conventional aircraft cannot serve due to a lack of necessary infrastructure.
This means small to mediumsized enterprises (SMEs), remote communities, and critical services can all begin to benefit from same-day deliveries – whether for spare parts, fresh produce, or medical supplies.
“By lowering barriers to entry, reducing costs, and improving speed, we’re making air freight truly accessible and scalable,” Rangelov asserts.
TECHNOLOGICAL SOVEREIGNTY
As the only European company to build, test, and fly locally manufactured large cargo drones, Dronamics is reducing strategic dependencies and strengthening the EU’s technological sovereignty.
By designing, building, and operating the Black Swan in Europe, the company has afforded the continent with access to homegrown, advanced drone capabilities.
In turn, this has decreased reliance on external suppliers for critical logistics and aerospace technologies, bolstering Europe’s strategic autonomy.
“We’ve created a homegrown solution for both commercial and civil protection applications – from same-day deliveries to civil protection missions such as disaster relief, medical supply distribution, and emergency response,” Rangelov reflects.
REVOLUTIONISING EUROPEAN LOGISTICS
Thanks to its status as a pioneering European company with the potential to revolutionise logistics and bolster the EU’s strategic autonomy, Dronamics has achieved countless awards, grants, and recognitions over the years, including:
AWARDS AND CERTIFICATIONS
• Light unmanned aircraft system (UAS) Operator Certificate (LUC) –Dronamics was the first cargo drone company to receive an LUC from the EU in 2022 – a high-level certification that allows the company to self-authorise its drone operations across EU member states.
• Middle East and Africa (MEA) Business Aviation Achievement Awards 2023
– The company won the Best Air Cargo Service Provider (non-Commercial Airline) at the event held in Dubai.
• NEC Innovation Challenge Awards – Dronamics was a winner at the NEC Innovation Challenge Awards in 2024 for its innovative logistics services using unmanned aerial vehicles.
GRANTS
• EIC Accelerator grant – This €2.5 million grant from the European Commission in 2022 supported the development of Dronamics’ cargo drone fleet, droneport network, and operational expansion.
• Malta Enterprise grant – Awarded in 2023, this grant is supporting the establishment of Dronamics’ Global Network Operations Centre (GNOC), a facility intended to centralise the management and control of its drone fleet and droneport network.
INDUSTRY RECOGNITION
• IATA and ICAO designator codes – In 2023, Dronamics became the first cargo drone airline to be assigned these codes, which are essential for official recognition and operational integration within the global aviation community.
On a mission to democratise air freight through sustainable, EU-developed drone technology, Dronamics is proud of the progress it has made within Europe.
At Dronamics’ R&D centre in Sofia, Bulgaria, for example, it is actively building large cargo drones that are 50 to 90 percent more affordable to produce and run than the alternatives.
“We are designing, building, and optimising the aircraft based on tests under a single roof. This ensures tight integration, efficiency, and quality control,” he tells us.
For the few parts sourced externally, the company works with certified suppliers.
“This vertically integrated model enables us to significantly reduce operating costs compared to conventional aircraft,” Rangelov adds.
LOOKING AHEAD
In June this year, Dronamics was put forward for an equity investment of up to €30 million under the European Innovation Council’s (EIC) Strategic Technologies for Europe Platform (STEP) Scale Up scheme.
The funding supports breakthrough companies by investing between €10 and €30 million and attracting additional private investment.
Being put forward for this programme means that the European
Commission recognises Dronamics as a significant and strategic technology provider.
The end goal is to enable financing rounds of between €50 and €150 million or more, helping scale innovations that are critical to Europe’s competitiveness.
“For Dronamics, being nominated is both a recognition of our impact and a major opportunity to secure growth capital at a European level,” Rangelov reflects.
The funding will enable the company to finalise its Black Swan flight testing programme, expand manufacturing capabilities, and launch its first commercial flights.
“BY LOWERING BARRIERS TO ENTRY, REDUCING COSTS, AND IMPROVING SPEED, WE’RE MAKING AIR FREIGHT TRULY ACCESSIBLE AND SCALABLE”
– SVILEN RANGELOV, CO-FOUNDER AND CEO, DRONAMICS
“This investment strengthens Europe’s technological sovereignty, accelerates greener, faster logistics, and creates high-tech jobs, supporting both commercial and critical civil protection operations,” he confirms.
Looking to the future, Dronamics will continue to focus on maintaining its first-mover position in advanced air logistics.
The company’s number one goal is to achieve a successful commercial launch and expand its reach across key markets.
By leveraging partnerships with leaders like Kawasaki Motors, it continues to enhance technology, performance, and sustainability.
“Our vision is a world where cargo moves as efficiently and affordably as information, with the Black Swan platform at the centre of a new optimised logistics ecosystem,” Rangelov passionately concludes.
EIC 2024 in Brussels
Dronamics and strategic partner Kawasaki Motors
RESILIENT RED ROSES RUN RIOT
In their second Autumn International, England romped to a comprehensive victory against an always tough Fiji side at Twickenham
Writer: Ed Budds
England extended their scintillating recent record of results to nine consecutive victories with an impressive destruction of Fiji.
There was a raucous party atmosphere under the Saturday night lights in their second Autumn International, as the hosts took to the pitch looking to impress again after an eye-catching
win over Australia a week earlier.
England Head Coach Steve Borthwick’s side secured the result, scoring four second-half tries to end any hope of a Fiji comeback and continue their now considerable momentum as a cohesive and intimidating unit.
England opened the scoring with a well-worked move finished off by Luke Cowan-Dickie before Fiji found a strong response, battling back with tries from Tevita Ikanivere and Caleb Muntz.
The visitors missed a golden opportunity to capitalise, with fly-half Muntz missing both resulting conversions. However, he then composed himself with a perfectly executed penalty to take Fiji clear on the scoreboard before Immanuel Feyi-Waboso crossed the
try line for England to end an entertaining first half.
After the break, Ellis Genge and Ikanivere traded scores for both teams, sparking the contest back to life.
A formidable asset for this England team is the squad’s strength in depth and options off the bench, with carefully deployed substitutes delivering a tide-turning impact once again in the second half after five forwards were rolled on with the score at 21-18.
Replacements Jamie George and Henry Arundell, the latter demonstrating scintillating pace and electric running power, then each finished off tries to take the hosts clear.
Both tries came either side of Fiji scrum-half Simi Kuruvoli illegally spilling the ball when attempting to score.
England captain Maro Itoje, who was also used to great effect from the bench, grabbed the final try of the game to cap another handsome win. Fiji were reduced to 14 players twice throughout the contest, as winger Selestino Ravutaumada and centre Josua Tuisova were confined to the sin-bin – missing key moments which saw England score crucial points to set them up for victory, costing the visitors dearly.
BUILDING MOMENTUM
Prior to this fixture, England had prevailed in eight of their nine meetings with Fiji – most recently a gruelling knockout game which they won 30-24 in the quarter-finals of the 2023 Rugby World Cup in France. The one defeat in this impressive
As such, England knew Fiji would look to run the ball from deep and kick long, which the hosts decided to match directly, selecting Marcus and Fin Smith to provide a crucial double pivot option when in possession.
ASSISTANT REFEREES: LUC RAMOS (FRANCE) AND KATSUKI FURUSE (JAPAN)
TELEVISION MATCH OFFICIAL: MIKE ADAMSON (SCOTLAND)
ATTENDANCE: 78,000
Luke Cowan-Dickie scores England’s first try with the support of teammate Alex Coles
Real Madrid hosted Barcelona in the latest instalment of El Clasico, a top-of-the-table clash that saw Los Blancos extend their lead at the summit of La Liga following a fiery encounter
Writer: Jack Salter
After four straight El Clasico defeats in all competitions last campaign, Real Madrid bounced back to beat Barcelona at the Santiago Bernabéu in their first meeting of the season.
The 2-1 victory on Sunday 26th October put Los Blancos five points clear of their Catalan rivals at the top
of La Liga after 10 games, with the visitors succumbing to their second defeat of the season following a 4-1 drubbing away to Sevilla earlier in the month.
With the bit between their teeth, Real Madrid began a breathless contest on the front foot as they set about breaching Barcelona’s high
defensive line from the get-go.
The hosts looked to have capitalised on their bright start as they were awarded a penalty in the second minute for a foul on Vinícius Júnior, however it was overturned after a Video Assistant Referee (VAR) review, which determined the Brazilian winger kicked the leg of Spanish star
Lamine Yamal before going down. VAR soon intervened again to rule out a stunning 25-yard volley from Kylian Mbappé, whose strike from the edge of the box was disallowed for a marginal offside.
Undeterred, Mbappe finally gave Real Madrid the lead in the 22nd minute, slotting past goalkeeper
Wojciech Szczęsny in the Barcelona goal after being played through by a defence-splitting pass from Jude Bellingham.
CHAOTIC CONTEST
Los Blancos continued to pepper the visitors’ goal but were caught out in the 38th minute by a Barcelona counter-attack that ended with another Englishman, Marcus Rashford, squaring for Fermín López to equalise against the run of play.
A frantic first half finished with Real Madrid retaking the lead through Bellingham, who picked the perfect time to score and assist his first La Liga goals of the campaign.
The midfielder was left unmarked at the back post to notch his fourth goal in five appearances against Barcelona. It was marred in controversy, however, as the visitors felt Pau Cubarsí was impeded by Dean Huijsen as he tried to clear Éder Militão’s header across the face of goal.
VAR intervened once again at the start of the second half to award Real Madrid a debatable penalty after the ball inadvertently struck the hand of Eric García, who slid in to challenge Bellingham.
Mbappé was denied from the spot by Szczęsny, who produced a fine one-handed save in the 52nd minute to keep Barcelona in the game.
Real Madrid then had another goal ruled out for offside with 20 minutes remaining as Bellingham tapped in a low Brahim Díaz cross.
The match ended in chaos with clashes on the touchline between the two rivals and a red card for Pedri, who was sent off for Barcelona 10 minutes into added time.
GETTING TO EL CLASICO
El Clasico tickets are always in high demand as fans flock to watch one of the world’s most fierce and famous football rivalries.
Those lucky enough to attend can purchase from Seatsnet, the largest
marketplace for live sport, concert, theatre, and festival tickets.
Seatsnet offers tickets from authorised resellers and uses cuttingedge technology to find the right seats at the best price.
If attending El Clasico at the Santiago Bernabéu, Ryanair flies to Adolfo Suárez Madrid-Barajas Airport (MAD) from various destinations across Europe.
For a convenient and comfortable stay in the heart of the action, the AC Hotel Aitana by Marriott is perfectly located right next to the stadium on the Paseo de la Castellana.
MATCH
POSSESSION PERCENTAGE 31.6 – 68.4
SHOTS
23 – 15
SHOTS ON TARGET 10 – 6
SAVES 4 – 9
CORNERS
12 – 4 FOULS 12 – 9
OFFSIDES 5 – 2
CLASICO STARTING LINE-UPS
EL
Real Madrid – Courtois, Valverde (c), Militão, Huijsen, Fernández, Tchouaméni, Bellingham (43’), Camavinga, Güler, Vinícius Júnior, Mbappé (22’)
Barcelona – Szczęsny, Koundé, Cubarsí, García, Balde, de Jong (c), Pedri, Yamal, López (38’), Rashford, Torres
Kylian Mbappe opens the scoring for Real Madrid in the 22nd minute PHOTO BY
SPOTLIGHT ON FINANCE IN MALTA
Malta may be one of the world’s smallest countries, but it is also a vibrant financial hub where FinTech start-ups, fund managers, insurance firms, payment providers, and family offices co-exist and thrive side-by-side
Writer: Ed Budds | Project Manager: Alfie Wilson
Located at the heart of the Mediterranean, between Europe and North Africa, Malta has become deeply integrated in the world of finance.
Famous for its 7,000-year history and 300 days of sunshine a year, the island has emerged as one of the most remarkable success stories in the Eurozone.
Malta’s pro-business attitude, state-of-theart infrastructure, and modest costs of doing business have led it to become the go-to country for growth-minded entrepreneurs and multinational companies.
Despite its small size, the nation has made the conscious decision to support a variety of financial activities and specialist segments, including a rich mix of international, regional, and local institutions.
Today, asset management, insurance, banking, private wealth, and FinTech are the dominant forces of the nation’s finance industry.
Moreover, aviation, yachting, maritime services, capital markets, space finance, and sustainable finance are also playing important roles.
This diversity is building a path to prosperity, paving the way for Malta to thrive and promote cross-sector partnerships and cooperation amongst companies operating from within the country.
The nation progressively aligns itself with global standards in the realm of international finance today.
As such, from Malta, financial services companies can now readily access the EU’s massive single market of over 500 million people.
In addition, the island enjoys a vast network of more than 70 double-taxation treaties, covering most of the world’s high-growth markets, facilitating trade and international business.
Malta is also a major transhipment hub, with the Malta Freeport Terminal being one of the most efficient and successful freeport operations in the Mediterranean.
Almost all goods being shipped through the port or re-packaged for onward shipment now do so tax-free.
Meanwhile, moderate operating costs coupled with a highly-qualified population and a desire to support innovative ideas has positioned Malta
as the ideal location for small to medium-sized enterprises (SMEs), regional headquarters, back-office functions, and fast-growing FinTech firms to prosper.
Furthermore, as a finance centre, Malta has also become internationally recognised as a thought leader, championing the introduction of cell company structures, which today are an important element in the captive insurance sector.
Boasting sophisticated ICT infrastructure that is well connected to the international backbone of Europe’s network, high broadband penetration, and a competitive market with the latest technologies, Malta now offers the perfect environment for business.
Another advantageous factor is that friendly relationships exist between the island and its Mediterranean neighbours. Through bilateral agreements between Malta and the EU with third countries, and as a result of Malta’s traditional economic links, the country continues to strengthen its position as a business location and financial centre in the region.
More than just a smart place to invest, Malta is the multifaceted gem of the vibrant Mediterranean. This friendly and welcoming island contains everything needed to strike the perfect balance between business and pleasure. It offers a variety of lifestyle choices that range from urban, cosmopolitan, and luxurious to relaxed and rural.
Boasting shopping, cultural, and leisure activities, all at affordable rates, Malta also provides expatriates with a unique opportunity to live every aspect of life to the full.
Globally, the financial services industry is approaching a new digital frontier, and with a keen eye on the future, Malta has set itself the ambitious target of providing financial firms with a technologically advanced, top-tier regulatory and business environment.
The clear aim is to be a global player in the regulated digital finance and FinTech space.
For now, Malta’s unquenchable thirst and active appetite for innovation will undoubtedly continue to power its growing financial services sector.
INTERVIEW: FINANCEMALTA
Created in 2007, FinanceMalta is the public-private initiative set up to promote Malta as an international financial centre within, as well as outside, the nation. We catch up and learn about all the latest developments with Chairman, George Vella
FinanceMalta brings together and harnesses the resources of both industry and government to ensure Malta maintains a modern and effective legal, regulatory, and fiscal framework in which the financial services and FinTech sectors can continue to grow and prosper.
The organisation arrived on the scene at a critical time for the nation, just as Malta entered the Eurozone. Fast forward to today and the financial services sector is now
a major force in the country’s economy.
Malta possesses numerous significant strengths to offer the industry, such as its highly-qualified, motivated workforce, low-cost environment, and an advantageous tax regime backed up by more than 70 double-taxation agreements.
On top of these benefits, FinanceMalta now offers world-class ICT infrastructure, English as an official language, an enviable climate, and a strategic location.
EME Outlook (EO): Firstly, could you provide us with some insight into your career to date and explain how you became interested in the finance industry?
George Vella, Chairman (GV): It’s been quite a journey from a very young age to where I am now.
I don’t come from a business family but grew up surrounded by a family of professionals. Early on in life, I knew I wanted to take my own unique path into something that no one else in my family wanted to branch out into.
As soon as I started studying the area of finance, it immediately felt like my natural home, and after a lot of hard work, I took on several very interesting roles, notably as Finance Director of a hotel chain, which then transitioned into a central treasury role where I’ve thankfully learned a lot.
During a brief interlude, I spent some time working for a local bank which was an interesting and valuable experience. After that, I was lucky enough to have the opportunity to build a financial advisory practice from scratch which is still thriving today and something I am very proud of.
Three years ago, I was also asked to chair FinanceMalta,
a public-private partnership between the financial services industry and the Government of Malta.
It acts as the extended business development arm of the entire financial services industry, which means my role carries a lot of responsibility - an honour I gladly accepted.
I feel that the country of Malta and the profession I practice has been so kind to me personally and to many of my colleagues – I owe both a huge debt of gratitude.
Simialrly, whenever the country, fellow professionals, or the sector asks for something, I cannot say no.
Now, when I see all the great opportunities coming our way and the incredible transformation that is happening in our respective industries, I remain very enthused by what’s happening.
EO: What is your take on the finance landscape in Malta over the last year? Have you identified any recent trends developing since we last spoke?
GV: At present, we are seeing FinTech really take off, in a comparable way to successes we have previously observed with financial services, gaming, and digital services.
Trusted Across Generations
For over 50 years, Bank of Valletta has been a cornerstone of Malta’s economic landscape, enjoying a strong, sustainable market position as Malta’s leading financial services institution. The Bank provides retail and business clients with a suite of services, offered through a network of branches, business and investment centres, financial well-being centres, 24x7 services and corporate and wealth management arms. Bank of Valletta is an institution trusted across generations, leading by example in sustainability and active in its support to the communities it serves, living up to its promise of being Malta’s Bank of Choice.
Issued by Bank of Valletta p.l.c., 58, Triq San Zakkarija, Il-Belt Valletta VLT 1130. Bank of Valletta p.l.c. is a
BANK OF VALLETTA: A Strategic Transformation Toward Sustainable Growth
or over five decades, the Bank of Valletta Group (BOV) has stood as a pillar of Malta’s financial system, playing a central role in the country’s economic development. Deeply embedded in the fabric of Maltese society, BOV has evolved in step with the islands’ macro and microeconomic shifts, transforming into a modern, forward-looking financial services provider.
With a client base exceeding 360,000 and over 20,000 shareholders, BOV remains committed to its role as Malta’s leading bank. It serves a diverse customer spectrum – from individuals and small businesses to large corporates – whilst maintaining strong ties with communities across
Malta and Gozo.
In an era defined by economic volatility and rapid technological change, BOV continues to demonstrate resilience and agility. Its strategic focus on innovation, prudent governance, and customercentric service has enabled the bank to sustain performance and achieve key milestones outlined in its transformation roadmap.
Enhancing Customer Experience
Customer-centricity is at the heart of BOV’s strategy. The bank prioritises community-focused banking and consistently improves its service quality, as reflected in rising customer satisfaction and net promoter scores. A standout initiative is the launch of
financial well-being centres in Malta and Gozo. These centres offer holistic financial planning services – including credit, investment, and retirement solutions – tailored to each stage of a customer’s financial journey. Offerings range from savings accounts to asset management and stockbroking, along with protection plans covering life, loans, insurance, and pensions.
To meet evolving consumer behaviour, BOV has extended branch hours and is upgrading its entire ATM fleet – 94 units in total – with next-generation machines featuring contactless technology. A branch renovation programme is also underway, enhancing the customer experience across Malta’s largest banking network.
Left: Kenneth Farrugia, CEO, Bank of Valletta Group
For business clients, the bank introduced the BOV SmartPay brand in early 2025. This suite includes SoftPOS, e-commerce solutions, and corporate card services. A new commercial card product and digital platform now offer businesses real-time transaction visibility and greater control over spending, streamlining financial operations.
Accelerating Digital Transformation
Technology is a cornerstone of BOV’s strategic plan. The bank is actively advancing its digital transformation programme to deliver enhanced convenience and financial agility for both personal and business customers. Upgrades to mobile and internet banking are in progress, promising a significant increase in new features. The bank is also reengineering internal processes and deploying digital solutions to boost efficiency and responsiveness.
Growing with the Community, Leading in Sustainability
BOV’s commitment to community well-being is reflected in its robust corporate social responsibility (CSR) programme. The newly launched BOV Foundation drives initiatives across five pillars: supporting vulnerable groups, promoting education, preserving Maltese heritage, advocating ethical conduct, and championing environmental sustainability.
BOV is deeply committed to its environmental, social, and governance (ESG) goals, actively working to reduce its carbon footprint and helping customers transition to more sustainable practices. The bank offers green lending incentives and ESG-aligned investment products, positioning itself as a key partner in Malta’s shift toward a greener economy.
This commitment has earned BOV several prestigious accolades. At the 2024 Malta Business Awards, the bank received the Gold Award for Environmental Innovation for its Rebbiegħa CSR Initiative, which included a collaboration with Nature Trust Malta to protect loggerhead turtles through satellite tracking and outdoor tank facilities. It also secured the Silver Award for Social Impact, recognising its long-standing dedication to community well-being and ethical banking.
On the international stage, BOV was honoured by the World Savings and Retail Banking Institute (WSBI) and the European Savings and Retail Banking Group (ESBG) for its leadership in sustainable finance, its role in promoting
financial inclusion, and community-led initiatives. These awards underscore BOV’s growing influence in shaping responsible banking practices across Europe.
Beyond recognition, BOV continues to champion sustainability through education, product innovation, and operational transformation. Whether by offering interest rate incentives on green loans or expanding its portfolio of ESGfocused investment solutions, the bank remains at the forefront of sustainable finance – helping customers embed ESG principles into their operations and supporting Malta’s transition to a lowcarbon economy.
Strategic Renewal and CustomerCentric Evolution
As BOV advances its strategic journey, it aims to enhance service delivery, streamline operations, embrace new technologies, and elevate the customer experience across all touchpoints. The bank is diversifying its business model by expanding existing services and introducing new ones. Through its partnership with MAPFRE MSV Life, BOV now offers general insurance products and is actively growing its presence in second and third pillar pensions.
BOV remains a steadfast advocate for long-term financial well-being, ensuring regulatory compliance, strengthening cybersecurity, and upholding anti-money laundering and anti-financial crime
standards to protect customers and the institution.
Investing in People
People are BOV’s greatest asset. The bank embraces a people-first philosophy, believing that empowered employees deliver exceptional customer service.
Over the next 12–18 months, BOV will invest heavily in talent development through extensive learning programmes to attract and retain top professionals.
Looking Ahead
As BOV looks to the future, it is focused on building on its transformation success. Strategic initiatives will continue to enhance service offerings, optimise operations, and expand market reach. The bank’s commitment to innovation, sustainability, and community engagement remains unwavering. International rating agencies have recognised BOV’s progress, affirming its transformation journey.
BOV will also continue to reward shareholder loyalty and increase shareholder value through targeted initiatives. Ultimately, BOV aims to remain Malta’s bank of choice for generations to come.
Phone: +356 2131 2020
Email: customercare@bov.com
Website: www.bov.com
Solid Partners, Flexible Solutions.
At the core of Malta’s economic success, the nation is applying the same ingredients to several very similar complementary service industries and, time and again, it’s thankfully very clear that the financial proposition the island offers remains highly attractive.
Meanwhile, one big trend developing in the last year is the huge success we have witnessed with the EU’s new Markets in Crypto-Assets (MiCA) regulation.
This new directive has led to a significant number of applications being submitted to the Malta Financial Services Authority (MFSA), the local regulator.
As such, we are currently witnessing a number of both local and foreign entities choosing Malta as their natural home, who we embrace with open arms.
If you look at our economy compared to other more traditional examples from the rest of Europe, we are very service-based. This dependence accounts for 87 percent of our GDP, and we also have a surplus on these services, meaning roughly 30 percent of what we do is exported to other countries.
Additionally, when you’re exporting, you are earning foreign cash, which is always extremely important for economic policy.
“I AM MOST PROUD OF OUR PEOPLE – IT IS ONLY A VERY SMALL TEAM, BUT THEY ALWAYS GO THE EXTRA MILE OR MORE EVERY SINGLE YEAR WITHOUT FAIL”
– GEORGE VELLA, CHAIRMAN, FINANCEMALTA
Another big trend that we are seeing – and which will be occupying much of our time and energy in the coming years – is the digital transformation of traditional businesses, such as law and accountancy firms, and any other professional services within the financial services realm.
It has been predicted that we won’t even recognise how these services will be offered in the future and we’re slowly but surely seeing that many of the operators are smelling the vast opportunities available and doing what needs to be done to achieve this game-changing digital transformation.
MALTA’S FINANCIAL ADVANTAGES
Geographical location
Malta is favourably located within three hours’ direct flight time from other European financial centres. Moreover, the Malta Freeport Terminal is now a major regional hub. The island is also part of the Schengen Area, a zone of 29 European countries that have abolished internal border controls, allowing for free movement between them. Additionally, Maltese Standard Time is one hour ahead of Greenwich Mean Time and six hours ahead of Eastern Standard Time, so business runs smoothly within the international community.
Diversified economy
Historically, the tourism sector contributed to around 25 percent of the island’s GDP. However, a variety of service businesses have joined the traditional economic generator which now accounts for 75 percent of Malta’s GDP. As such, industry accounts for 23 percent and agriculture makes up the remaining two percent of what is now a diversified economy.
Accessible regulator
Respected and forward-thinking, Malta’s financial regulator is accessible with risk-based supervision.
Technology and services
Key to Malta’s success as the most successful knowledge-based economy in the Mediterranean region has been the growth of service-focused businesses in fields such as ICT and the booming Maltese financial services industry. Expansion of the FinTech industry, together with life sciences and education, also continues to pave the way for a prosperous future.
Simplicity through Innovation
Through innovative solutions, Finance Incorporated Limited streamlines and simplifies a full range of financial services under one roof, making your financial management accessible, adaptive, and reliable. Cenk Kahraman, CEO, delves into the unparalleled services the company provides, making it an industry stalwart ripe with expertise.
Over the course of your career, how have you seen Malta’s finance landscape evolve? What recent opportunities or challenges have you encountered in the region?
It’s been a fascinating evolution. When I started, the landscape was quite different. The real gamechanger was Malta’s entry into the EU, which gave us a credible regulatory framework and access to the European market. That foundation allowed us to become a hub for tech-driven finance, like payment companies and Fintechs. More recently, we’ve seen Malta take a leading role as a pioneer in crypto regulations, which really put the country on the map for innovation.
As for recent opportunities and challenges, they are two sides of the same coin. The opportunity is to keep building on that innovative reputation. The challenges, however, are becoming more pronounced.
• First, talent. Finding and keeping the right people, especially with specialised tech and compliance skills, is a major struggle. The sector grew faster than the local talent pool could.
• Second, competition. We’re not the only option. Other jurisdictions are competing fiercely for the same business, so we can’t afford to be complacent.
• And third, infrastructure. There’s a critical need for better banking and payment solutions, specifically for non-traditional financial firms. It’s a real bottleneck that’s undermining the potential of our Fintech and crypto sectors.
Could you provide a brief overview of Finance Incorporated Limited’s (FIL) main products and
services, and how you are streamlining and simplifying a full range of financial services through innovative solutions?
At FIL, we cater to a wide range of clients – from individuals and small businesses all the way up to large corporations and other financial institutions. Our main products are the tools they need for their daily financial activities: we offer EUR-based accounts, debit cards, and, for our business clients, provide POS systems, e-commerce platforms, and other payment solutions.
The way we simplify and streamline all of this is by focusing our innovation on the back-end. Think of it like a car; you see a simple dashboard and steering wheel, but underneath there’s a complex engine making it all work. Our innovation is that engine. We connect different specialised platforms behind the scenes.
This approach gives us – and our clients – three main benefits. It creates significant speed, makes our services very cost-effective, and gives us the power to handle a very high volume of transactions without breaking a sweat. So, for the user, it’s a simple, fast, and efficient service, all powered by our integrated back-end.
What does security mean to FIL? How do you ensure the security of all customers’ transactions?
Security is everything to us at FIL. We consider protecting our clients’ data and their accounts to be our number one job.
We take a ‘security-first’ approach to everything we build. From day one of any project, we’re thinking
about cybersecurity. It’s built in from the ground up, not bolted on at the end. To make sure we’re properly secured, we use multiple layers of security tools – one layer protecting the next. We also have independent experts test our systems every year to try and find any weaknesses, which helps keep us sharp.
For the transactions themselves, security is absolute. Every transaction is wrapped in industry-standard encryption. Think of it like sending a message in a locked, unreadable box. This ensures that from the moment a client initiates a transaction to the moment it’s completed, their information is kept completely private and secure.
Can you tell us more about your belief that straightforward financial services are a fundamental human right, and how this informs your mission to offer financial solutions for everyone?
Our belief is based on a simple reality: the world has changed. Think about how much less you use cash today compared to a few years ago. Digital payments are now the standard for everything, and the smartphone in your pocket is the key to it all. It enables and fuels this entire trend.
Given that, we see access to a digital account as a basic necessity, not a luxury. You need it to safely pay for things, receive your salary, and just manage your life. In today’s world, being without a digital account is like being without an internet connection – you’re effectively cut off from society.
This reality directly informs our purpose at FIL. One of our goals is to provide the essential tools that allow people to participate confidently in the digital
economy. That’s why we are committed to developing solutions that are designed to be simple, secure, and inclusive.
Looking ahead, what are your key priorities, goals, and targets for the coming year, and are you optimistic for the future of Malta’s finance industry?
For the coming year at FIL, our priorities are clear. First, we’re doubling down on our home market in Malta to increase our presence here. At the same time, we’re actively planning our expansion into several other EU countries. To broaden our horizons, we’re looking to partner with firms outside the EU to give us a more global reach. It’s about strengthening our base, expanding in the region, and then connecting globally.
As for Malta’s finance industry as a whole, I’m very optimistic. Our leadership in areas like Fintech and crypto gives us a great head start. We’re wellpositioned to ride those waves. However, to really succeed in the long term, we cannot be complacent. There are a few things we need to get right. We need better connections with other financial hubs, we have to make it easier and more attractive for companies to do M&A deals or list on the exchange here to attract bigger investors, and critically, we need to solve the talent shortage. If we can tackle those points, Malta’s future in finance looks very bright.
Moving forwards, we will also do our best to continue increasing our attractiveness for wealthy individuals who decide to allow us to administer their finances effectively.
EO: What are the organisation’s key differentiators and most valuable qualities?
GV: A key differentiator, and one which has been widely recognised across the sector, is the versatility afforded by the local legislative framework to those who use Malta as a logistical and jurisdictional base.
Moreover, our jurisdiction and legislative framework is second to none. There are historic reasons for this as, until 1964, Malta had always been occupied by a variety of very influential European forces.
Over the years, this cultural mix left an imprint on the nation’s legal system, significant parts of which can still be seen today in the form of principles bestowed into Malta’s legal framework from both French and English rule.
Elsewhere, the Malta Ship Registry is used for ship finance through mortgages and other security interests, which are recorded in the registry to provide legal certainty for financiers.
Our legal framework, modelled on British maritime traditions, allows for the registration of mortgages over
“WHEN A PERSON DECIDES TO VISIT FOR BUSINESS, LEISURE, OR TO MAKE MALTA THEIR SECOND OR NEW NATURAL HOME, THEY WILL QUICKLY DISCOVER WE ARE A VERY SMALL COSMOPOLITAN ISLAND WITH LOTS OF FUN TO BE HAD”
– GEORGE VELLA, CHAIRMAN, FINANCEMALTA
vessels, creating a special charge on a ship that can be enforced even if the vessel is under charter.
The effectiveness of our courts of law – coupled with the fact we are English-speaking, a member of the EU, and possess a very nice climate – combine to make us a burgeoning proposition.
When a person decides to visit for business, leisure, or to make Malta their second or new natural home, they will quickly discover we are a very small cosmopolitan island with lots of fun to be had.
I believe we possess an attractive overall package for anyone that decides to visit.
EO: Could you tell us about the upcoming edition of the FinanceMalta Annual Conference later this year and the importance this holds?
GV: The flagship FinanceMalta Annual Conference reviews sector performance, regulatory updates, and growth priorities across banking, funds, FinTech, and insurance. It is the must-attend forum for anyone shaping Malta’s financial-services agenda.
Our 18th edition of the conference, held between 19th and 20th November, has secured record support from the industry, with 45 firms confirmed as sponsors for the sector’s flagship meeting point, reflecting the increasingly strong confidence in Malta’s financial services ecosystem. This investment ensures that the conference is not
only entirely industry-funded but also built by and for the sector, making it a truly collaborative platform.
We are really excited for the conference to map out where we are in terms of progress with several significant and exciting future projects, one of which includes the digital transformation of tax returns and collection of taxes in Malta, collating all data into one unified system.
EO: Finally, what element of the organisation are you most proud of?
GV: I am most proud of our people – it is only a very small team, but they always go the extra mile or more every single year without fail.
The Comply.Land 2026 Conference tour (Malta and Brussels, dates and venues TBA)
The European regulatory landscape is evolving rapidly. The Cyber Resilience Act, Product Liability Directive, eiDAS, DORA, NIS2 Directive and others are transforming how organizations operate across Europe.
Comply.Land 2026 returns as the premier international conference where compliance meets innovation.
We’re bringing together EU policymakers, regulators, software cybersecurity AI and Quantum experts with technology leaders for two days of meaningful dialogue on the challenges and opportunities shaping our digital future.
We’re Now Seeking Exhibitors and Speakers
Are you pioneering compliance solutions or delivering compliance services today? Leading cybersecurity innovation? Shaping digital identity standards? We want to hear from you.
This is your platform to showcase expertise, connect with decision-makers, and influence the regulatory ecosystem. Whether you’re addressing cyber resilience, data protection, cyber insurance, critical infrastructure security, or digital trust frameworks, Comply.Land offers unparalleled access to the minds and organizations driving change.
Next summer, join hundreds of attendees, government representatives, certification bodies, and industry innovators in Malta’s vibrant Mediterranean setting.
Submit your speaker proposal or exhibitor application today. contact@comply.land | comply.land Turning regulatory complexity into business opportunity. An event by CrabNebula Ltd.
“AT PRESENT, WE ARE SEEING FINTECH REALLY TAKE OFF, IN A COMPARABLE WAY TO SUCCESSES WE HAVE PREVIOUSLY OBSERVED WITH FINANCIAL SERVICES, GAMING, AND DIGITAL SERVICES”
– GEORGE VELLA, CHAIRMAN, FINANCEMALTA
With only six spokespeople, we have managed to be present at over 50 events internationally and have also organised several events ourselves. Right now, our membership base is growing significantly because of the value being brought to the table.
We’ve managed to increase our income, not only from our members and private entities, but also from government, meaning we have doubled our budget.
I believe this is all an indication that what we’re doing is creating significant value for our members and the jurisdiction. Therefore, it fills us with even more responsibility to deliver more and continue our forwards momentum.
We try to stay in contact with both the founding bodies of FinanceMalta and our stakeholders, which is always a balancing act because you’re trying to negotiate and serve everyone’s interest.
Yet, in some shape or form, we seem to be doing that because we are seeing our membership and the number of people attending our conferences grow alongside the wider financial services sector.
Last year, Malta embarked on a revision of its entire strategy for the country and, based on the successes that we’ve seen so far, it looks like this has convinced the strategy-setters to ask for more from our financial services sector.
This strategy is based on the assumption that we will continue to grow at an even greater pace, which marks a huge vote of confidence – we will do our very best to fulfil these ambitious targets.
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As mining organizations worldwide confront unprecedented change, embracing technological innovations and incorporating critical environmental sustainability agendas, now more than ever is the time to showcase the strides being taken in this dynamic sector.
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Through these compelling media channels, Mining Outlook continues to foreground the movers and shakers of the industry.
To participate as a featured company and join us in this exciting endeavor, contact one of our Project Managers today.
HAVING A BLAST
Diego Vallim, Vice President of Europe, the Middle East, and Central Asia, and Laurence Goodacre, Vice President of Africa, update us on Orica’s recent activities in Europe, the Middle East, and Africa (EMEA), including its expanded digital portfolio, newly launched lead-free electronic detonators, and ambitious environmental targets Writer: Jack Salter | Project Manager: Cameron Lawrence
There has been continuous growth in the mining industry in EMEA since we last spoke to Orica at the beginning of this year.
Europe has witnessed significant development in 2025 in terms of mining infrastructure and an increase in operations across the continent.
The industry has also progressed particularly well in Africa, especially compared to other parts of the world, with the region quickly finding its feet
when it comes to regulation changes and local content.
Orica has remained unwaveringly committed to excellence in the burgeoning EMEA mining sector throughout 2025.
“We have a massive footprint across EMEA, from the Northern Hemisphere to the Southern Hemisphere, so geographically it’s one of the most challenging regions we have within the business. We’ve seen continuous
growth in EMEA over the last 12 months, and I don’t see that backing off,” notes Laurence Goodacre, Vice President of Africa.
There is also strong demand in EMEA for core blasting activities and supplying mining and construction companies with explosives and blasting systems.
“EMEA is very diverse; you have different environments across the whole region. We’re seeing strong
demand in many countries, so it’s been a great year for Orica in 2025,” outlines Diego Vallim, Vice President of Europe, the Middle East, and Central Asia.
ORICA DIGITAL SOLUTIONS
Since our previous interview in January 2025, the company has experienced increasing interest in its Orica Digital Solutions business. Orica Digital Solutions seamlessly connects customers’ physical and
digital worlds so they can readily understand and optimise their operations at every step of the value chain, from exploration to processing.
Whether operating individually, or as a whole, its solutions ensure the right intelligence at the right time for better decisions and more predictable outcomes.
With a complete, timely, and accurate picture, customers can adapt their operations to improve safety, be more productive, use less energy, produce fewer emissions, reduce environmental impacts, and lower costs.
Orica Digital Solutions’ products and technologies span Orebody Intelligence, Blast Design and Execution, Geosolutions, and Mine Simulation and Optimisation.
“Our digital portfolio is designed
“OUR DIGITAL PORTFOLIO IS DESIGNED TO OPTIMISE THE ENTIRE PROCESS FLOW OF MINING AND INFRASTRUCTURE OPERATIONS”
– LAURENCE GOODACRE, VICE PRESIDENT OF AFRICA, ORICA
to optimise the entire process flow of mining and infrastructure operations,” Goodacre tells us.
Its advanced Blast Design and Execution solutions, in particular, provide end-to-end benchmarks and insights at every stage of the blasting process.
Deployed together or individually, these ensure greater precision and predictability for underground mining, quarrying, and construction.
BlastIQ™, for example, is Orica Digital Solutions’ industry-leading, cloud-native Blast Design and Execution platform, which is ISO 27001-certified and provides effective storage, management, sharing, and referencing of all blast-related information.
This helps blasting professionals to improve blast designs, achieve better quality blasts, and reduce costs.
Design, drilling, loading, and
initiating documents can be viewed in one central location, making it easy to access blast design history and key performance indicators, enabling the continuous improvement of blasting outcomes.
“BlastIQ provides real-time data and digitalises how we use that data and the analytics behind it,” explains Goodacre.
This leads into SHOTPlus™, advanced blast design and modelling software for complex blasts.
SHOTPlus™ enables users to design, visualise, and analyse blast initiation sequences across surface and underground mining, quarrying, and construction applications.
As such, it provides the support and tools needed to improve productivity, safety, and environmental performance.
“SHOTPlus™ allows for specific blast design outcomes and results through advanced blasting software,” Goodacre states.
Another of Orica Digital Solutions’ Blast Design and Execution solutions is its industry-first OREPro™ 3D and OREPro™ 3D Predict, which optimises ore control in 3D and predicts blast results before they happen.
Using readily available input data, including the post-blast topography, Blast Design, and in-situ block model, OREPro™ 3D’s sophisticated algorithms replicate movement dynamics throughout the entire blast and calculate SmartVectors™ that accurately transform the in-situ grade control into a post-blast model.
HOW IMPORTANT ARE ORICA’S PEOPLE TO YOUR SUCCESS?
Laurence Goodacre, Vice President of Africa:
“Our people are our most valued asset. Reinvestment back into our staff is one of the most important things not only for me as an individual, but also Orica as an organisation.
“Graduate programmes are also really important for us, and historically, a lot of senior people at Orica have come from them. We develop a lot of industry experts, and that’s something we’re really proud from a training development perspective.”
Diego Vallim, Vice President of Europe, Middle East, and Central Asia:
“This is a great question because there’s nothing we can do without having good people at the forefront of new technologies.
“We consider our people as our greatest asset and continually invest in developing our talent and culture of innovation, which helps us to be always in the avant-garde of the industry.
“By investing in our people, we also help to develop the whole industry. One of the things we do to improve expertise across the whole industry is our Safe and Efficient Blasting Course, where Orica professionals from different parts of the world come together and train industry experts from around the world in different matters.
“This course is something we’re very proud of. It’s important because it’s a way to not only develop our own people, but also develop the whole industry in how to have more efficient, safer, and environmentally friendly blasting.
“We have performed several courses across the EMEA region recently, and we’ll have more in the future.”
“OREPro™ 3D is a software that helps customers to improve recovery through predictive modelling,” Vallim informs us.
“It’s a tool that’s been available for a while now, and it’s been very successful. Customers really appreciate this technology, especially medium-sized and large mining companies, and the way it helps them to improve recovery, which is of course extremely important.
“Through modelling, you can predict what will happen with your blasting process. This, of course, saves a lot of time and improves the overall efficiency of the mine.”
GEOSOLUTIONS EXPANSION
Alongside its Blast Design and Execution products and technologies, Orica recently expanded its Orica Digital Solutions portfolio to include Geosolutions.
The company’s measurement and monitoring tools offer mining and civil operators the certainty and confidence to make critical decisions.
Combining state-of-the-art technologies and software, Orica Digital Solutions’ Geosolutions assure customers of precise and reliable information to help them better manage risk, optimise production, and keep people, communities, and cultural heritage safe.
“We have expanded our Orica Digital Solutions portfolio to include Geotechnical and Geospatial monitoring systems,” Vallim says.
“When you work with Orica Digital Solutions’ Geosolutions, you’re partnering with people who know mining first-hand. Our technology is backed by trusted names like GroundProbe, 3vGeomatics, Syscom, Measurand, NavStar, and RST Instruments, but it’s our on-site experience that makes the difference.”
The company builds systems that are tough, accurate, and ready for the realities of mining life and civil infrastructure.
More importantly, it pairs this hardware with smart software and on-the-ground support. From highprecision radar to practical data interpretation, Orica helps customers understand what the numbers mean and what to do next.
Geosolutions offers real-time geohazards and geotechnical analysis and insights, including a multidimensional geotechnical and geospatial view of mining and infrastructure operations, allowing for unparalleled confidence in risk assessment and decision-making.
“These solutions and technologies are available for our customers in the EMEA region. We see a lot of synergies, not only with their mining projects, but also as a way to help some of their environmental, social, and governance (ESG) ambitions.
“It’s important to highlight as it’s
part of our extended portfolio and provides value to our customers,” Vallim adds.
Orica Digital Solutions’ comprehensive monitoring technology platform, meanwhile, is used to measure movement in airports, bridges, water and tailings dams, mines, and tunnels.
“Some of our technologies help with monitoring vibrations, which improves our relationships with communities,” Vallim highlights.
Through Orica Digital Solutions’ Geosolutions predictive technologies and software solutions, customers are also able to monitor and detect wall movement, understand when it becomes a problem, and determine when a collapse is likely to occur.
Its reactive technologies detect, track, and alarm on moving geohazards, warning customers and
communities of a breach or collapse.
Another benefit of Orica Digital Solutions’ Geosolutions is they enable customers to significantly improve the efficiency and quality control of tunnel constructions and development drives.
Through precise, real-time tracking, users can make calculated decisions to increase efficiency, save time and money, and reduce reworks.
ELECTRONIC BLASTING SYSTEMS ANNIVERSARY
This year, Orica has celebrated 25 years of Electronic Blasting Systems (EBS) since the launch of the company’s first i-kon™ system in 2000.
It marks a quarter of a century of innovation, reliability, and customerdriven advancement in blasting technology for the company.
One-stop shop for renewable energy equipment, domestic and cross border haulage, construction and more.
About A&B Replacement Parts Company
A&B is a multifaceted company specializing in Domestic and cross-border haulage services, supply of renewable energy generating equipment such as solar, construction services, and direct importers and distributors of electrical cables, tubes, valves, tees, and bends.
Our Legacy and Growth Story
A & B Replacement Parts Limited was established as a wholly Zambian company, since its inception in 1999 and is duly registered with the registrar of companies and the Zambia Revenue Authority.
The company has a work force of 14 staff with its Head office situated at No.10, Chibote Avenue, Parklands, and Kitwe. The company comprises of four (4) sections
whose operations are domestic and cross border haulage, energy generating equipment and construction.
Our Mission
Our Mission at A&B Replacement Parts is to become Zambia’s top leading and internationally recognized direct importers and distributors of all Electrical Cables, Electrical Test equipment, Industrial electrical Heavy Duty Equipment, Low and High Voltage Switchgear products, HDPE pipes Stainless Steel Pipes, tubes, pumps/ Valves, Tees and Civil works/General Contracting and Transportation for all cross border Haulage of various Cargo in the SADC & COMESA Regions.
A&B Replacement Parts Limited is dedicated to building long-term relationships with its customers through quality of service, customer support, and after-sales services.
Our Services
Mining Logistics
Our mining logistics, procurement and supply office is situated at No. 10, Chibote Avenue, Parklands in Kitwe. Under this section, we supply to various mining companies, generation and transmission industries, mining electrical (low and high voltage switchgear products and all types of power cables).
Renewable Energy Generating Equipment
We pride ourselves in supplying a broad spectrum of high-quality, cutting-edge solar products, ensuring you have access to the best the industry offers.
Experience superior solar inverters, solar panels, and solar power systems, that deliver reliable performance and durability all at a cost-effective price.
Haulage Services
Haulage services provided by A&B Parts Replacement guarantee efficient and reliable transportation solutions for various goods, meeting diverse customer needs in logistics. We have in the recent past diversified to domestic and cross-border transportation of various goods to countries in the SADC and COMESA regions.
Construction
The construction section of our business undertakes projects with a focus on quality materials and expert craftsmanship, delivering exceptional results in every endeavor. We are a registered company with the National Construction Council of Zambia undertaking rehabilitation and construction jobs in the country’s public and mining sectors.
With over 200 million units deployed globally, supporting operations in Surface and Underground Mining, Tunnelling, Quarrying, and Construction, i-kon™ led the way in defining what a globally standardised EBS could be and set the benchmark for modern systems.
i-kon™ was launched at a time when the industry was dominated by non-electric and electric systems, both of which had limitations in terms of testability, timing accuracy, and scalability.
Since launching i-kon™ 25 years ago, Orica has remained at the forefront of Electronic Initiation, transforming the way the mining industry approaches safety, precision, and productivity.
It has also revolutionised the way blasting is conducted – introducing programmable timing, full testability, and now, the world’s first truly wireless initiating system, WebGen™ 100.
This groundbreaking technology communicates through rock, air, and water to initiate blasts, eliminates
the need for downlines and surface connecting wires, and significantly enhances safety by removing people from hazardous areas.
A few years after, Orica launched WebGen™ 200, which uses lowfrequency magnetic waves to communicate with each primer, ensuring precise and controlled blasting operations.
By eliminating the constraints of traditional wired initiation, WebGen™ 200 transforms mine planning by enabling more flexible, efficient, and precise blast designs, reducing risk exposure, and driving productivity gains.
“WebGen™ 200 is a really exciting product that’s been in the market for a little but continues to unlock. value for customers, not just in surface mining but also underground; it’s changing the way we mine,” Goodacre highlights.
“We can now look at how we extract ore differently because of wireless technology, which is one of the most exciting products from an underground perspective and a whole different way of thinking.”
Having been implemented at over 75 sites across six continents and 13 countries, WebGen™ has seen significant usage throughout various regions, including EMEA.
“We have seen a lot of interest in WebGen™ 200 from many different types of industries here in EMEA,” confirms Vallim.
In March 2025, the technology reached a major milestone, achieving
Leading Supplier of Material Handling Equipment
HALCYON MH LIMITED
Established in October 2010, Halcyon MH Limited has earned a solid reputation as Ghana’s most proactive and efficient material handling equipment company. As the direct dealer for Linde Material Handling GmbH and MAGNI Telescopic Handlers, Halcyon provides world-class lifting and handling solutions that combine innovation, safety and performance.
At Halcyon, we go beyond being an equipment supplier. We are a complete material handling solutions partner with an aim of helping businesses move smarter, safer, and more efficiently by delivering premium equipment and unmatched technical support. Whether for warehouses, factories, logistics hubs, ports, or construction sites, our solutions are designed to improve operational efficiency and reduce downtime.
With a fleet of over 200 lift trucks in Ghana, Halcyon MH Limited has one of the largest and most reliable rental and sales inventories in the country. This capacity allows us to meet the diverse needs of clients across industries ensuring quick availability, dependable performance, and minimal downtime, no matter the project size or location.
Our strategic partnerships set us apart. Through our direct dealership with Linde Material Handling and MAGNI Telescopic Handlers, we bring customers the latest in global engineering excellence equipment renowned for reliability, performance, and ergonomics. We also partner with TVH Belgium, Europe’s largest and most cost-efficient spare parts supplier, ensuring that our clients have access to genuine parts, rapid maintenance and responsive after-sales service.
These collaborations give us the global backing and technical edge needed to meet every material handling challenge.
Halcyon MH Limited offers a comprehensive range of products and services tailored to suit diverse industrial applications. Our offerings include:
1. Forklift Rental and Sales: A wide range of electric, diesel, and LPG forklifts for every operational demand.
2. Telehandlers and Reach Equipment: Versatile lifting solutions for production, construction, and industrial operations.
3. Pallet Trucks and Stackers: Durable, high-performance solutions for warehouses and logistics centers.
4. Scissor Lifts and Access Platforms: Safe and efficient elevation for maintenance, installation, and construction projects.
5. Maintenance and After-Sales Support: Skilled technicians providing timely servicing, repairs, and genuine spare parts to ensure maximum uptime.
At Halcyon, we view every customer as a partner in progress. We take time to understand each client’s
unique operational environment and recommend tailored solutions whether through short-term rentals, long-term leases, or outright purchases. Our flexible terms, responsive service, and dedicated technical support ensure clients receive maximum value, safety and reliability at every stage.
Our excellence in service delivery has earned us the trust of leading local and international companies. Among our key partnerships is our strategic relationship with Orica, a global leader in industrial and mining solutions. Through this collaboration, Halcyon supports Orica’s operations with specialized equipment and expert technical assistance ensuring safety, precision, and efficiency in every task.
Over the years, Halcyon MH Limited has remained committed to efficiency, reliability, and customer satisfaction. With a focus on continuous improvement and innovation, we continue to set the benchmark for material handling excellence in Ghana and across West Africa.
For equipment that lifts performance, safety and productivity, trust Halcyon MH Limited, your reliable partner in material handling solutions.
10,000 blasts globally and firing 200,000 WebGen™ 200 primers.
This reflects its rapid widespread adoption and success in the mining industry, enabling customers to implement new mining methods and achieve real-world benefits.
Orica’s i-kon™ III and WebGen™ 200 systems therefore build on the company’s legacy of precision and safety, offering advanced digital integration, improved deployment efficiency, and enhanced environmental performance.
LEAD-FREE ELECTRONIC DETONATORS
The evolution from i-kon™ III and WebGen™ 200 continues with the recent launch of EBS Neo, Orica’s new range of fully lead-free electronic detonators.
EBS Neo products are designed for enhanced safety and sustainability, eliminating lead from both production and blasting emissions.
“This is a journey that started many years ago; we needed to develop different alternatives to eliminate lead from the whole production chain, and we are now seeing increasing adoption of lead-free detonators,” affirms Vallim.
The EBS Neo range utilises non-primary explosives detonator technology for the safe and reliable initiation of explosives in challenging conditions.
This next generation of EBS includes i-kon™ III Neo – engineered for large, complex surface and underground blasting; uni tronic™ 600 Neo – tailored for civil tunnelling and mine development; and eDev™ II Neo – optimised for small to medium-sized surface and construction blasting.
These systems build on Orica’s legacy of precision and safety, offering advanced digital integration, improved deployment efficiency, and enhanced environmental performance.
Orica does not use lead or lead
compounds in the manufacturing of its EBS Neo detonators and takes steps to seek assurances from its suppliers in this regard.
“We tested different materials and came up with a configuration that doesn’t require any lead at all, so it’s very aligned with our ambitions to have a more sustainable portfolio of products,” Vallim acclaims.
“EBS Neo is definitely a gamechanger. By removing lead from the entire lifecycle, it helps customers with their ESG,” echoes Goodacre.
“When we talk about removing lead from detonators, this is the final evolution of the EBS product range. It’s a lot safer from an ESG perspective and helps with regulatory compliance.”
Crucially, the EBS Neo range complies with the requirements of the EU’s Restriction of Hazardous
Substances (RoHS) Directive, which aims to prevent the risks posed to human health and the environment related to the management of electrical and electronic equipment (EEE).
The directive promotes the recyclability of EEE, since its components now contain fewer hazardous substances and more recycling opportunities.
At the same time, it ensures a level playing field for manufacturers and importers of EEE in the European market.
In April 2026, a specific exemption related to the use of certain lead and hexavalent chromium compounds in electric and electronic initiators of explosives for civil (professional) use expires, however EBS Neo complies with the RoHS Directive beyond this deadline.
A Proven Partnership
R&R Murphy has evolved from a contract manufacturing vendor into a full-service excellence partner, collaborating daily with Orica’s engineering, asset management, and new technology teams. This partnership supports the complete asset life cycle of Orica’s underground process units — from design and manufacture to fulfilment and field support — across Australia, the Pacific, and Asia, with additional capability for North American and European projects. The company’s expertise includes the manufacture of vehicle-mounted industrial process units for Orica’s hard rock blasting services, ensuring consistent production throughput and quality across all operating regions. R&R Murphy also delivers fitment, retrofitting, and commissioning of underground delivery systems onto carriers such as Normet, Maclean, Mercedes Benz, Getman, and Epiroc.
Beyond manufacturing, R&R Murphy provides end-to-end logistics and warehousing, managing critical spares, pre-commissioned emulsion units, and a dedicated spare parts store for consumables and replacement components. These assets are maintained and ready for rapid deployment to Orica customer sites in 21 countries.
Continuous improvement underpins the company’s approach — from refinements to the MaxiPump™ for more reliable
For over 20 years, R&R Murphy Pty Ltd has proudly partnered with Orica to design, manufacture, and support vehicle-mounted industrial process units for the global mining and quarry industries. From developing new emulsion charging technologies to supporting these solutions throughout their life cycle, R&R Murphy has built a reputation for precision, reliability, and Australian-made excellence.
emulsion pumping, to advancements in MaxiLoader™ and MaxiCharger™ designs that have reduced production time and cost while increasing field durability.
R&R Murphy also plays a vital role in prototyping and compliance testing for Orica’s 4D™ advanced blasting solutions, integrating digital technology, hydraulics, and mechatronics to maximise safety and efficiency in the field.
New Milestone: BM Pro Production and Facility Expansion
In its latest milestone, R&R Murphy has commenced manufacture and supply of Orica’s BM Pro quarry truck, marking a new chapter in Australian manufacturing and innovation. The BM Pro project reflects the strength of the long-standing partnership between the two companies and highlights R&R Murphy’s ability to deliver complex, high-value industrial solutions to global standards.
To support this next phase of growth,
R&R Murphy is expanding its operations with the development of a world-class manufacturing facility — doubling its footprint to over 7,000 m². This major investment increases production capacity and efficiency while reinforcing the company’s commitment to Australian manufacturing and continuous improvement.
From concept to completion, R&R Murphy continues to set the benchmark for quality, capability, and innovation in industrial manufacturing — proudly supporting Orica’s mission to deliver safe, reliable, and sustainable solutions to the global mining and quarrying sectors.
“Whenever we talk about new technologies, we put a lot of emphasis on performance and safety, but for some products, compliance is very important. There is legislation in Europe that will change in 2026, and EBS Neo is fully compliant with this, so we are well-positioned to supply the market with the full range of lead-free detonators next year,” emphasises Vallim.
“There are lot of European standards coming into play, so being one of the first from the industry to have a full end-to-end solution to remove lead from the process is exciting. It’s leading us towards safer and more sustainable blasting solutions across the board,” Goodacre elaborates.
From i-kon™ to WebGen™, and now the EBS Neo range, Orica continues to redefine what’s possible in blasting
“WHEN YOU WORK WITH ORICA DIGITAL SOLUTIONS’ GEOSOLUTIONS, YOU’RE PARTNERING WITH PEOPLE WHO KNOW MINING FIRST-HAND”
– DIEGO VALLIM, VICE PRESIDENT OF EUROPE, THE MIDDLE EAST, AND CENTRAL ASIA, ORICA
– driven by innovation, inspired by people, and focused on the future.
UTILISING WASTE OIL
Along with EBS Neo, Orica continues to lower environmental footprints through blasting solutions such as Cyclo™, which optimises mine site fuel through circularity.
This automated processing system enables used oil from heavy machinery to be recycled directly on-site and transformed into raw materials.
The proven technology offers efficient processing and quality output that matches the standard required for manufacturing emulsion explosives.
Cyclo™ is designed to support remote operations where Orica’s sitebased emulsion plants are available.
It can process up to 1,000 litres of used oil per hour and enable significant reductions in the cost and consumption of fuel for explosives.
As well as this, Cyclo™ removes the need for off-site disposal and
COMMUNITY ENGAGEMENT AND COLLABORATION
Orica values the strong and collaborative partnerships it has with host communities.
The company works closely with, and contributes to, the communities it works in.
Over the last 12 months, it has seen a stronger focus from developing countries wanting companies like Orica to be more involved in community engagement.
“How we transfer local knowledge and technology for these developing countries is really important,” Goodacre outlines.
truck movements through local communities and ensures finished product quality is maintained to the standard required for bulk emulsion manufacturing.
“Waste oil is a big by-product in mining operations, so Orica created Cyclo™ to utilise waste oil instead of fuels,” Goodacre expands.
“It utilises waste oil on the mine site, so it doesn’t have to be exported, disposed of, and treated elsewhere.
“Cyclo™ is really important for trying to be renewable and consuming everything on-site. Waste oil is a big part of that process for our customers, so it has a big impact in terms of boosting ESG,” he acknowledges.
INVESTMENT IN RAW MATERIALS
Since we last spoke to Orica, the
company has remained committed to securing the supply of critical raw materials for the mining industry.
It consistently invests in developing new raw materials and sources of supply to not only improve safety and compliance, but also to have a more flexible supply chain.
“The supply chain has been very challenging in the last few years, not only in the mining sector but across almost all industries,” Vallim reflects.
The company has continued to strengthen its supply chain to ensure it has security of supply.
“Sourcing raw materials is critical for us. Our manufacturing and sourcing footprint gives our customers confidence that we’re able to manage different situations,” Goodacre enlightens.
“We can manage an entire portfolio from a global perspective, not just
one source of supply. The biggest thing Orica is focused on is security supply from multiple sources, not just internally but externally as well.”
Orica also invests in its facilities, such as the company’s main manufacturing plant in Gyttorp, Sweden, which now produces the EBS Neo range of lead-free detonators.
In February this year, Orica additionally invested to expand its global footprint with the acquisition of Cyanco, a US-based leader in the manufacture and distribution of sodium cyanide.
Primarily serving the gold mining industries in the US, Canada, Mexico, Latin America, and Africa, Cyanco
complements Orica’s established mining chemicals business.
“We’ve made some specific investments to expand our strong global footprint, and one of them was the acquisition of Cyanco in the US,” reveals Vallim.
“Partnering with other companies and performing some acquisitions to improve our global footprint is a very important part of our investment.”
SUSTAINABILITY AMBITIONS
In May, Orica established its commitment to 100 percent renewable electricity by 2040, with an interim goal of 60 percent by 2030.
These targets are in support of the company’s ambition to achieve net zero emissions by 2050.
“It’s not just pie in the sky – it’s a sustainable approach with initiatives put in place, and we’re ticking them off from a global framework perspective,” Goodacre sets out.
“We’re on track with these targets and ambitions,” assures Vallim. “In Europe, we recently performed the first blast with low-carbon technical ammonium nitrate (TAN).”
Indeed, Orica successfully partnered with Fertiberia in June 2024 at the Canteras de Santullán quarry in Spain.
This marked a milestone in reducing
the carbon footprint of blasting and mining operations, providing a more sustainable solution compared to conventional TAN.
The blast signified a further step towards the decarbonisation of mining and the first industrial-scale use of a sustainable, low-carbon explosive product.
“It’s another example that enforces our sustainability programme, which is aligned to our ambition of net zero by 2050,” Vallim prides.
DELIVERING GREAT VALUE
One of Orica’s main targets for 2026 is to continue advancing its net zero ambitions and supporting
customers in EMEA with their own ESG ambitions.
“We’re focused on helping customers meet their sustainability goals, specifically around reducing greenhouse gas emissions and supporting the energy transition that everyone’s going through at the moment in the future,” Goodacre shares.
Another of the company’s key priorities next year is to keep accelerating the adoption of the new technologies and solutions in its portfolio.
“We see a lot of value in customers adopting these new technologies because it improves their performance and supports
sustainability and the energy transition,” Vallim urges.
“It comes back to continuing to deliver great value for our customers and the communities we operate in,” Goodacre concludes.
Tel: +351 21 357 1311
Tel: +27 (0)10 596 3101
Corporate.affairs@orica.com www.orica.com
CONNECTING PEOPLE AND IDEAS
As Malta’s catalyst for digital and sustainable transformation, GO Plc is on a mission to ensure lives and livelihoods are supported through innovation, collaboration, and inclusion. We catch up with Nikhil Patil, CEO, as he reflects on a successful year for the company, whose nationwide fibre roll-out has made Malta a ‘true fibre island’
Writer: Lily Sawyer | Project Manager: Sam Thomas
Following a year of transformation and solid growth, we revisit GO Plc (GO) whose continued investment in Malta’s digital infrastructure remains significant.
In 2024, the company achieved record results by generating €244.9 million in revenue – up 3.8 percent year-on-year.
It also completed a nationwide fibre roll-out, making Malta a ‘true fibre island’ and a frontrunner in Europe in terms of coverage.
“We’re seeing ever greater demand for high-capacity fixed mobile connectivity, which is why GO’s islandwide roll-out now covers almost the entire country.
“Users can now experience speeds
of 10 gigabits per second (Gbps),” introduces Nikhil Patil, CEO.
Elsewhere, the company has expanded beyond traditional telecommunications (telecoms) having pushed ahead with its ventures into the energy sector.
“Following our 51 percent acquisition of AQS Med (AQS) late last year, we launched GO Energi, a solar-financing service that makes photovoltaic (PV) installations affordable by offering zero upfront cost,” Patil informs.
Indeed, with the Maltese telecoms market advancing rapidly, many operators are diversifying into cloud, entertainment, and Internet of Things (IoT).
“AS CEO, I SEE THIS ANNIVERSARY AS BOTH A CELEBRATION OF OUR LEGACY AND A SPRINGBOARD FOR THE NEXT 50 YEARS OF INNOVATION AND IMPACT”
– NIKHIL PATIL, CEO, GO PLC
In 2024, GO’s subsidiaries followed suit, with BMIT Technologies p.l.c. (BMIT) growing its cloud and data centre services, CyberSift Holdings Ltd expanding into advanced cybersecurity platforms, and energy offshoots AQS and SENS Innovation Group Ltd rolling out solar leases and electric vehicle (EV) chargers.
In addition, GO’s acquisition of Klikk – a retail chain focusing on all things digital – means that it’s even better positioned to serve customers’ needs through hardware and retail support, representing digital inclusion in its most tangible form.
All these initiatives flow directly from the company’s ultimate purpose – to drive a digital Malta where no one is left behind.
50 YEARS OF SUCCESS
As Malta’s technology industry faces headwinds – from rising costs and heavy investment requirements –supply chain inflation and the need to replace legacy copper networks have begun to impose both financial and logistical challenges on the sector.
“We’ve navigated these obstacles by sharing resources across the GO group and focusing on efficiency,” Patil tells us.
For example, the company’s automated network tools have enabled it to resolve 88 percent of internet faults remotely.
When it comes to standing out from the competition, GO leads the market, having delivered the fastest growth in broadband subscribers in Malta
thanks to its superior network quality and innovative offerings.
With the country’s telecoms landscape continually moving towards full fibre and 5G coverage, bundled digital services, and greener operations, GO remains at the forefront.
Having grown exponentially over
the past five decades, the company has transformed from a national telecom monopoly into a fully-fledged digital services group.
With this year marking GO’s 50th anniversary, Patil considers what this important milestone means to the company.
“Celebrating 50 years is about reflecting on all those achievements – record numbers of customers connected, new technologies pioneered, and millions of families and businesses empowered,” he smiles.
More than just nostalgia, half a century in operation also underlines GO’s commitment to the future, reinforcing its mission to be ‘Malta’s catalyst for digital and sustainable transformation’.
On a mission to drive a digital Malta where no one is left behind, achieving this milestone demonstrates the company’s purpose in action through resilient infrastructure, constant reinvention, and by serving every corner of the island.
“As CEO, I see this anniversary as both a celebration of our legacy and a springboard for the next 50 years of innovation and impact,” Patil emphasises.
STRATEGIC PRIORITIES
Having completed its full fibre roll-out, over 392,000 homes across Malta are now supplied by GO’s new network, meaning every town and village on the island and in neighbouring Gozo are fibre connected.
Almost all of the company’s fixedline customers are already using fibre, and the few remaining pockets –mainly in Valetta’s historic centre – will be connected imminently.
“This achievement makes Malta one of the most digitally connected countries in Europe,” Patil insights.
Importantly, having truly universal fibre means GO can now switch off its old copper networks and focus on delivering cutting-edge services and fast Gbps speeds to every home and business.
“This fibre completion is GO’s proudest project to date as it futureproofs Malta’s connectivity for decades,” he adds.
International connectivity is a strategic priority for GO as it is for Malta, and the company has historically been at the forefront in this respect, investing heavily in submarine infrastructure to reinforce the country’s links to the globe.
GO’s submarine cable network comprises three fully independent systems – two connecting Malta from local diverse points and landing on the east and west coasts of Sicily, and its most recent cable system, LaValette, that directly connects Malta to France and Egypt.
LaValette in particular, commissioned in 2021, was the first ever cable to land on Malta’s west coast, providing new diverse capabilities to the nation and, unlike any live current system in service, bypasses Italy completely.
LaValette also lands directly in a
global data centre where hyperscalers and Tier 1 providers of infrastructure are present.
GO is continuously maintaining its submarine infrastructure, which involves upgrading capacity and equipment from time to time to address both the additional bandwidth and operational requirements of its customers and the nation in general.
In fact, the company has done this before in a previous major upgrade, and it expects similar multiplier gains as it goes along with the next upgrades which are currently underway.
“GO will remain the only Maltese operator with fully redundant, ultrahigh-capacity connections, spanning from our core infrastructure to mainland Europe,” he prides.
This means richer connectivity, lower latency, and higher available bandwidth for customers and businesses, alongside a stronger, more secure digital gateway for the nation.
“It’s another example of GO investing in critical infrastructure ‘in
Celebrating 50 Years of GO : A Partnership Built on Ambition
In 2025, GO marks 50 years as Malta’s pioneering communications provider - a legacy built on innovation, resilience, and bold transformation. Mamo TCV Advocates is proud to have been part of this journey, supporting GO as it evolved into a digital and sustainability powerhouse. From capital markets work including strategic spin-offs and acquisitions to the more essential everyday function, GO has stood by Mamo TCV Advocates as its trusted legal partner. But beyond the service, it’s the partnership that defines us. GO’s ambition and excellence have consistently challenged us to raise our game, pushing Mamo TCV Advocates from strength to strength.
As GO celebrates this important anniversary as well as its network of trusted partners, Mamo TCV Advocates celebrates GO, one of its preeminent clients. 2025 is also a milestone for Mamo TCV Advocates - 25 years of legal excellence. Together, these anniversaries reflect a relationship rooted in shared values, mutual growth, and a relentless drive to shape Malta’s future.
the background’ to keep Malta at the forefront of global connectivity and a place where no one is left behind,” Patil reflects.
A LIVING SHOWCASE OF SUSTAINABILITY
GO’s new headquarters in Żejtun is designed to be a living showcase of sustainability, aligning perfectly with the company’s green vision.
This building is amongst the most advanced net zero facilities on the island, equipped with over 3,000 solar PV panels integrated into the roofs, walls, and car parks, which generate around 1 megawatt hour of renewable energy daily.
The campus has extensive watersaving features, including a large reservoir to capture rainwater for reuse in flushing and irrigation, and motion-sensor lighting and heating, ventilation, and air conditioning (HVAC) systems that only activate when areas are occupied.
Nikhil Patil, CEO: “Behind every statistic and project is the dedication of our people and the trust of our customers.
“GO’s culture – ‘obsessing over customers, acting as one team, and acting like owners’ – is what truly differentiates us.
“We’ve even made being the best place to work and grow one of our strategic pillars, because we believe that happy, empowered employees drive loyalty and innovation.”
PROGRESSIVE PROJECTS
Beyond major infrastructure projects, there are several other recent initiatives GO is keen to highlight:
• Advanced mobile services – Introduced Malta’s first voice over long-term evolution (VoLTE) service and a fully integrated eSIM solution. VoLTE delivers crystal clear call quality and faster connection times, whilst eSIM allows customers to activate or switch mobile service instantly through the GO app.
• Seamless calling experiences – Launched voice over Wi-Fi, complementing VoLTE by making the company the first operator in Malta to offer customers calling services using their existing Wi-Fi and 4G connections.
• Intelligent network management – Can resolve 88 percent of internet service issues without a truck roll thanks to its new self-service and AI-driven diagnostics platform. For example, if a fibre link drops, the system can automatically remotely test the line, reboot equipment, or reschedule fixes.
• Expansion of GO Energi – Allows any household to install rooftop solar with zero upfront cost. Customers simply pay a monthly fee that is immediately offset by energy bill savings. This is a world first in the Maltese market and aligns with GO’s strategy of providing value beyond telecoms.
• Innovation and digital services – Continues to innovate in media, IoT, and cybersecurity. For instance, the GO Smart Hub set-top box and Wi-Fi 7 integration enhance the at-home entertainment experience. The company has also expanded its GO Ventures start-up fund and BMIT subsidiary, which last year doubled cloud services revenue. All these efforts show how a
“Even our vehicle fleet at Żejtun has been electrified, lowering fuel use, and we’ve consolidated teams on-site to reduce the need to commute,” Patil details.
By moving employees into a solarpowered, 100 percent electrified building, GO has taken major green steps which align with its commitments to reducing carbon and replacing old copper with fibre.
“Every aspect – from energy generation to materials and operations – is geared to cut emissions,” he highlights.
In short, Żejtun is not just a workspace – it is GO’s tangible pledge in brick and mortar that a sustainable, low-carbon future is fully compatible with a world-class telecoms service.
Elsewhere, the company has made steady progress towards its goals of reducing its carbon footprint by 42 percent by 2030, and 90 percent by 2050, in line with the Paris agreement. Its complete fibre network, for example, is inherently greener than the old copper grid, delivering three to five times more bandwidth per watt.
Employee behaviour is also changing, with the company having introduced a ‘GO Green’ training programme, which encourages staff to think ‘energy first’ in everything they do – from virtual meetings to supplier choices.
Although these initiatives have significantly lowered GO’s emissions intensity, Patil notes how it is still too early to give a final percentage.
“Qualitatively, the changes are real. For example, consolidating IT into our new energy smart data centre and moving to paperless billing have already shaved off measurable greenhouse gas (GHG) emissions,” he notes.
Importantly, the company has set these goals scientifically and regularly monitors progress.
“So far, we are on track, with our investments in renewables, energy
“OUR COMBINED AIM IS TO MAKE GO INDISPENSABLE TO MALTESE LIFE – NOT JUST FOR CONNECTIVITY, BUT AS A TRUSTED PARTNER IN TECHNOLOGY, MEDIA, AND SUSTAINABILITY”
– NIKHIL PATIL, CEO, GO PLC
efficiency, and sustainable offices giving us confidence that we will meet our 42 and 90 percent respective targets on schedule.”
For GO, sustainability is not just a one-off project but part of its DNA, and the company’s green outlook is evident in its robust approach to carbon accounting.
FUTURE PRIORITIES
In addition to its environmental targets, GO has set a range of strategic goals across business, technology, and social fronts.
“We have five clear strategic pillars guiding our future, including ‘investing in a digital Malta’ and ‘providing the best customer experience’.”
As it aims to continue growing the country’s digital economy, GO is rolling out even more fibre-based services and cloud offerings.
Over the past six years, it has returned over €154 million to shareholders, and it intends to
maintain a balanced capital-allocation strategy, continuing dividends whilst investing aggressively in innovation such as fibre, networks, green energy, and start-ups.
The company also prioritises digital adoption; having built ubiquitous coverage across the island, its next targets include increasing household uptake of high-speed plans and bundled services.
“Internally, we have a goal to become a fully digital enterprise – automating more processes, embracing artificial intelligence (AI) and cloud – to stay lean and responsive,” Patil comments.
It also plans to accelerate services like GO Energi – which is aiming to become Malta’s top clean-energy provider by leveraging the company’s existing 500,000+ connections –alongside expanding content and smart-home bundles.
Additionally, it is growing its corporate venture capital firm, GO
Ventures, and its burgeoning portfolio in HealthTech and FinTech.
The company also has human capital and environmental, social, and governance (ESG) goals, with one strategic pillar being to ‘be the best place to work and grow.’
As such, GO continually strives for top marks in employee engagement and diversity because it knows that attracting talent fuels innovation.
“Our combined aim is to make GO indispensable to Maltese life – not just for connectivity, but as a trusted partner in technology, media, and sustainability,” he posits.
Whether customer, shareholder, or community-focused, all these noncarbon targets are fully aligned with the company’s core purpose and are measured year-on-year.
Looking ahead, Patil wants GO to be remembered as Malta’s catalyst for digital and sustainable transformation, whether through trialling even newer wireless technologies, expanding cybersecurity, or helping government and industry harness AI and 5G.
The company’s purpose of achieving a connected and inclusive Malta guides it every day, with each of GO’s achievements a team effort thanks to the diligence of its dedicated teams.
“In collaboration with our broad range of subsidiaries and partners, we remain committed to investing, innovating, and caring – ensuring that as Malta’s technology evolves, GO will be there, connecting people and ideas for decades to come,” Patil passionately concludes.
Tel: 00356 8007 2121
customercare@go.com.mt
www.go.com.mt
Adding to the success of its regional titles; Africa Outlook, EME Outlook, APAC Outlook, and North America Outlook, Outlook Publishing is proud to introduce a new platform dedicated to the construction sector.
A multi-channel brand, Construction Outlook brings you the positive developments driven by organisations across the global construction industry through its various platforms.
Discover exclusive content distributed through its website, online magazine, social media campaigns and digital dispatches, delivered straight to your inbox with a bi-weekly newsletter.
Through these compelling media channels, Construction Outlook will continue to foreground the movers and shakers of the industry.
To participate as a featured company and join us in this exciting endeavour, contact one of our Project Managers today.
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A BLUEPRINT FOR VISIONARY INFRASTRUCTURE
As Romania embarks on a transformative journey to enhance its urban landscape, Somet’s CEO, Andrei Stanciu, updates us on the company’s pivotal projects which showcase its commitment to innovation and sustainable development in construction
Writer: Rachel Carr | Project Manager: Andrew Marjoram
Since our last interaction with Somet, several noteworthy developments have unfolded for both the company and those venturing to Romania.
“We have begun the execution of the Metro 6 (M6) line on the Bucharest Metro, which will connect our capital city to the largest airport in the country – Henri Coandă International
Airport in Otopeni,” updates Andrei Stanciu, CEO.
The public transport network, which covers almost the entire urban area, will now link part of the subway system to Romania’s busiest airport, situated 10 miles north of Bucharest.
This provides several benefits, including enhanced convenience and accessibility, economic growth, and
a positive impact on the community and environment by reducing traffic congestion.
“The contract, known as M6 Package 1.2, involves the construction of six metro stations along with tunnels. This year, we also signed a significant contract for the M6 line, referred to as M6 Package 2,” he adds.
In the two years that have passed
following our last conversation with Somet, the company has evidently been busy focusing on various projects.
Another considerable endeavour is the large laser site in Măgurele, part of the Extreme Light Infrastructure – Nuclear Physics (ELI-NP) facility which recently reached a record power of 10 petawatts (PW), the highest in the world.
This is a meaningful project for Somet, as Romania is pushing the boundaries of science and technology.
The ELI-NP is an important research centre for areas such as medicine and managing nuclear waste materials, and the company is helping to construct and equip the new High-Power Optics Centre, which, once completed, will manufacture components and mirrors.
This is alongside the modernisation of Henri Coandă International Airport and the consolidation of necessary structures.
“It is a challenging project because it is being done whilst the airport is in operation,” Stanciu declares.
Playing a crucial role in connecting Romania to the rest of the world,
Henri Coandă International Airport is an essential part of the country’s transportation infrastructure, with a processing capacity of six million passengers per year. As such, Somet’s work is integral to its operations.
A TRANSFORMATIVE IMPACT
Successful completion of the M6 line will also greatly benefit passengers, and Stanciu notes that the project is progressing well, with effective advancements and increased production to help tackle the country’s transport challenges.
“Drumul Național 1 (DN1), the road along which the M6 line is being built, and its intersection with the Bucharest Ring Road are the busiest in Romania with the highest daily traffic. Near this intersection, the project includes a
multi-story parking lot.”
“Various measures are being implemented to minimise environmental impact during construction, including dedicated truck-washing equipment, building monitoring, and logistics and suppliers with specific certifications,” he adds.
The M6 line is a key project for Somet and exemplifies the positive impact of its expanded management team. The company’s dedication and ongoing investment in training have additionally led to increased efficiency and better project execution.
“We have a growing and very capable team in which we invested a lot of time, and we have continue to search for bright and dedicated people,” informs Stanciu.
“WE HAVE A GROWING AND VERY CAPABLE TEAM IN WHICH WE HAVE INVESTED A LOT OF TIME, AND WE CONTINUE TO SEARCH FOR BRIGHT AND DEDICATED PEOPLE”
– ANDREI STANCIU, CEO, SOMET
“We periodically participate in training modules dedicated to our company. For instance, this year, we had three different ones, with key people being the main focus. Without them, growth is too risky.”
INNOVATIONS IN CONSTRUCTION
Somet’s sister company, CONSPEC, plays a crucial role in contributing to the business by providing essential services and solutions that complement its offerings.
“CONSPEC manages the
construction equipment we have, but recently it has also acquired its own equipment, such as cranes, excavators, front loaders, trucks, concrete pumps, and more. We also have a strategy to grow this business,” Stanciu outlines.
This expansion strategy is part of Somet’s larger vision to enhance its services in the construction industry by demonstrating its dedication to modernising operations through cutting-edge equipment and state-ofthe-art machinery.
“The machinery we recently
acquired is an excavator capable of digging from ground level to a depth of 25 metres. Additionally, the software we implemented this year includes a couple of IT robots that automate various processes within the company.
“However, one of the standout achievements is the implementation of a prefabricated column launched inside a barrette under bentonite protection, a groundbreaking innovation that, to our knowledge, has not been seen before in Romania,” Stanciu prides.
This significant project has garnered attention in local news, illustrating Somet’s leadership in adopting novel technologies.
The company also conducted thorough research across Europe but found no similar examples, further emphasising its pioneering efforts in the construction industry.
WHAT MAKES SOMET UNIQUE IN THE ROMANIAN CONSTRUCTION INDUSTRY?
Andrei Stanciu, CEO: “In my country, it’s not very common for familyowned companies to be passed down to the second generation. Unfortunately, many founders tend to sell their businesses as they age. Somet was founded by my father in 1991. I became involved in the company in 2012 and have been the CEO since 2018.”
MAKING STRATEGIC ADVANCEMENTS
Somet has recently completed various types of hotels and residential projects, whilst facing key challenges in these sectors.
“We have completed works for three hotels in the Romanian capital – Courtyard by Marriott Bucharest Floreasca, The Marmorosh Bucharest, Autograph Collection, and Novotel Bucharest City Centre. As for residential, there are quite a few; the most recent one we completed is Atria Urban Resort Phase 3. A beneficiary just launched the tender for Phase 4, and we are participating.
“One of the key challenges for these types of projects is the high percentage of manpower required from the total selling price, meaning out of the entire turnover, the labour
SOMET’S PROJECTS
• M6 Package 1.2 – Structure, utility rerouting, traffic diversion, surface dismantling, and restoration works for six stations, six interstations, and tunnels. This project is on the DN1 road, connecting the centre of Bucharest to Henri Coandă International Airport. Project value - €300 million.
• M6 Package 2 – Architecture, track, and mechanical, electrical, and plumbing (MEP) for 12 stations and interstations. High coordination with M6 Package 1.2 and 1.1 for the scope of the works. Project value - €340 million.
• Otopeni Airport modernisation – Finishing works, heating, ventilation, and air conditioning (HVAC), fire safety for the older part of the airport, and intervention surface of 15,000 square metres (sqm). Project vvalue - €22 million.
• ELI-NP – Construction of a new centre which will provide the necessary optical components for operating high-powered lasers worldwide. Project value - €30 million.
• Atria Urban Resort Phase 3 – A 350 apartment project spanning 32,000 sqm. Project value - €20 million.
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“WE HAVE A SPECIFIC TARGET FOR NEXT YEAR OF AROUND €70 MILLION IN TURNOVER, AND ARE ENTERING ANOTHER SECTOR – WIND FARMS”
– ANDREI STANCIU, CEO, SOMET
cost is higher than, for example, an infrastructure project,” Stanciu informs us.
The company anticipates strategic developments in the coming years to sustain its position in the underground infrastructure market and remain competitive.
“We are following other upcoming metro projects like the Metro 5 line as we keep expanding our team. Also, we participated in the tender for the Metro 4 line extension, which is currently under evaluation by the beneficiary,” he reveals.
To support this, Somet employs
a strategic approach to procuring materials and services for its diverse range of projects.
“We have a dedicated procurement department and are focusing on buying locally as much as possible, but sometimes also from abroad,” comments Stanciu.
Key plans and priorities for Somet in the next 12 months include achieving defined goals.
“We have a specific target for next year of around €70 million in turnover, and are entering another sector – wind farms,” he enthusiastically concludes.
As the company forges ahead with innovative projects such as the M6 line and continues to strengthen its capabilities through a skilled team and advanced technologies, it is making a lasting impact on the region’s infrastructure landscape.
Somet is indeed actively structuring the future of transportation, underpinning its mission to improve connectivity in Romania.
Tel: +4021/345.18.19
contact@sometconstruct.ro www.sometconstruct.ro
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As manufacturing organizations worldwide confront unprecedented change, embracing technological innovations and incorporating critical environmental sustainability agendas, now more than ever is the time to showcase the strides being taken in this dynamic sector.
A multi-channel brand, Manufacturing Outlook brings you the positive developments driven by organizations across the global manufacturing industry through its various platforms.
Discover exclusive content distributed through its website, online magazine, social media campaigns and digital dispatches, delivered straight to your inbox with a bi-weekly newsletter.
Through these compelling media channels, Manufacturing Outlook will continue to foreground the movers and shakers of the industry.
To participate as a featured company and join us in this exciting endeavor, contact one of our Project Managers today.
THE TECHNOLOGY LEADER SHAPING GLOBAL ENERG Y
Where a century of heritage meets the technology manufacturing of tomorrow, KONČAR Group has achieved enviable prominence in the global energy transition. Gordan Kolak, President of the Management Board, tells us how its portfolio of cutting-edge solutions meets worldwide market demand and shapes a sustainable future
Writer: Lucy Pilgrim | Project Manager: Cameron Lawrence
Aflagship of Croatian and regional industry, KONČAR Group (KONČAR) has evolved over the past century from a small workshop into the nation’s leading net exporter and a globally recognised technology leader.
Today, the company stands as a symbol of strength, quality, and reliability, with a presence in more than 130 markets worldwide.
This unique European story of excellence, dedication, and vision began on 24th January 1921 in Zagreb, the capital of Croatia, with the founding of Elektra Inc. (Elektra), a business focused on electrical and mechanical engineering.
That same year, Elektra became part of the international giant Siemens, and from 1945, operated as Rade Končar.
In 1947, the company launched its serial production of transformers, which began with voltages of up to 35 kilovolts (kV), alongside the
production of small oil-filled and dry-type instrument transformers for distribution networks and industrial facilities.
A year later, Rade Končar reached a major milestone that would shape its future – marked by technological breakthroughs and significant contributions to global engineering and science.
This milestone was the first RK generator, with a capacity of 24 megavolt-amperes (MVA), voltage of 10 kV, and weight of 220 tons, produced for the Mariborski Otok hydropower plant (HPP) in Slovenia.
After 40 years of successful operation, the generator became a museum exhibit and one of the company’s historic symbols.
Since January 1991, just a few months before Croatia declared independence in June, the company has operated as KONČAR.
Today, it is recognised as one of the most prominent examples of technical
expertise and business success in modern industry.
A TRACK RECORD OF EXCELLENCE
Over the decades, KONČAR has manufactured and revitalised more than 700 generators and successfully delivered over 400 HPP construction and refurbishment projects worldwide – either independently or in collaboration with partners.
Today, the company is best known for its expertise in power transmission and distribution, particularly in the development and production of transformers.
To date, it has manufactured and delivered nearly 500,000 transformers, including various types, voltage levels, and capacities.
With KONČAR transformers operating in almost 120 countries, they represent the most globally distributed Croatian industrial product.
Gordan Kolak, President of the Management Board
In addition to its core areas of expertise, the company stands as an undisputed regional leader in renewable energy, power engineering, urban mobility, and infrastructure, as well as digital solutions and platforms. This leadership is firmly supported by key performance indicators (KPIs). For example, last year marked KONČAR’s fifth consecutive year of record-breaking results across all key financial metrics, highlighted by major development milestones and strategic partnerships.
In 2024, the company also achieved consolidated revenue from the sale of products and services exceeding €1 billion, representing an 18.1 percent increase compared to the previous year.
An additional measure of KONČAR’s continued growth was its order book, which surpassed €2 billion as of 31st December 2024 – an increase of 43 percent compared to the beginning of the year.
Moreover, newly contracted business in the same year amounted to €1,667.4 million, up €357.3 million from 2023.
KONČAR continued its steady upward trajectory in the first half of
2025, with Q2 marking over five years of uninterrupted growth.
Compared to the same period in the previous record-setting year, the company achieved a notable increase in consolidated revenue from product and service sales, underscoring its robust market position and operational efficiency.
KONČAR’s strong global competitiveness and the synergy among its companies are best reflected in the export share, which made up a significant majority of total revenue.
Positive developments were also recorded in newly contracted business, further reinforcing the foundation for continued expansion in the coming periods.
Meanwhile, the book-to-bill ratio in the first half of 2025 stood at 1.4, driving the order book to a recordhigh value of €2.3 billion.
AMONG EUROPE’S LEADING TECHNOLOGY POWERHOUSES
In recent years, the global energy sector has entered its most intensive phase of the green transition.
This socioeconomic shift is increasingly evident in the power
industry, which is now facing unprecedented demand for hightech equipment and solutions – particularly in the power transmission and distribution segment.
Thanks to its competitive and globally recognised portfolio, KONČAR has leveraged these market opportunities to achieve historic growth rates and strengthen its position on the international stage like never before.
With top-tier, custom-made products and solutions tailored to meet even the most demanding requirements of customers worldwide, KONČAR has entered a new era of power engineering as a firmly established company among Europe’s most relevant technology manufacturers.
KONČAR’s export performance remains a clear indicator of its strong global positioning and the synergy across its companies.
In the first half of 2025, exports made up a substantial majority of total revenue from product and service sales, further reinforcing the company’s role as Croatia’s leading net exporter.
Compared to the same period in 2024, exports saw a significant yearover-year increase. The European Union (EU) contributed the most to this growth, with EU countries accounting for the dominant share of KONČAR’s total exports.
Among the most prominent export destinations are Germany, Austria, and the Netherlands, whilst notable breakthroughs have also been achieved in Scandinavian markets, particularly Sweden and Norway, where KONČAR is actively involved in strategic national energy infrastructure projects.
POWERING THE US’ SUSTAINABLE FUTURE
Despite unfavourable forecasts earlier this year related to US administration policies and proposed
tariffs, KONČAR achieved significant additional breakthroughs in the US market during the first half of 2025.
“According to financial reports for the first half of the year, KONČAR recorded substantial revenue growth from product and service sales in the US and Australian markets, more than double the same period last year. This growth was primarily driven by solutions in the power transmission and distribution segment, where KONČAR has been consistently strengthening its global competitiveness,” outlines Gordan Kolak, President of the Management Board.
“In the US market, the most notable export performance came from KONČAR – Instrument Transformers, which achieved a significant year-over-year increase, reflecting the company’s growing
presence and relevance in this strategic region. These results confirm the effectiveness of our long-term strategy and strength of our portfolio in key global markets.
“Such deliveries primarily include transformers of various types and capacities, which serve as key components in major transmission network construction projects across the US market. For example, in just the past three months, we delivered 16 transformers rated at 245 kV and 525 kV to the US, which will be installed at the Heward and Freezeout substations in Wyoming, Little Snake substation in Colorado, and Coyote substation in Utah. In addition, we supplied a larger number of transformers under two contracts with Dominion Energy, headquartered in Virginia,” he continues.
Therefore, despite current developments related to tariffs, the US market remains highly promising and strategically important for KONČAR.
As a result, the company is actively exploring further strategic partnerships and the potential for a local presence.
JACK-OF-ALL-TRADES
Hydropower is a niche in which KONČAR holds a level of experience, expertise, and references matched by very few companies worldwide, as one of the areas where the Croatian company is highly recognised and respected on the global stage.
Recently, KONČAR added two major strategic projects to its extensive portfolio – the €65 million revitalisation of the Haditha HPP in
Iraq and the €80 million revitalisation of the Vidraru HPP in Romania.
These complex and high-value projects not only mark new milestones in the hydropower segment but also reflect KONČAR’s strong global competitiveness, having been awarded them through international tenders.
The company is also recognised in the field of renewable energy for its own wind power plant, Pometeno Brdo – Croatia’s first wind farm with a capacity of 20 megawatts (MW), built 16 years ago, which generates approximately 25 million kilowatt hours (kWh) of electricity annually.
KONČAR has also built a strong track record in solar energy. In recent years, it has constructed around 10 large-scale solar power plants across Croatia for various partners
and recently signed contracts for the construction of two new solar power plants in Slovenia.
These facilities will be located near the Brežice HPP, a project in which KONČAR played a vital role.
The plant features a nominal capacity of 45 MW and a flow rate of 500 cubic metres per second, with the company having delivered three generators with a maximum continuous output of 21.5 MVA, along with excitation and monitoring systems.
In addition, KONČAR has installed integrated photovoltaic systems at nearly all its manufacturing facilities, significantly reducing the company’s carbon footprint, contributing to the decarbonisation of industry, improving energy efficiency, and –most importantly – leading the green industrial transition by example.
LEADING IN POWER TRANSMISSION AND DISTRIBUTION
Power transmission and distribution is a field in which KONČAR has long demonstrated its expertise, consistently reinforcing its reputation on the global stage – particularly within the EU.
Whilst all business segments of the company have shown growth in recent years, this segment leads the way, driven by historically high market demand.
Transformers represent the most powerful export lever within KONČAR’s production portfolio.
As some of the most sought-after products in today’s power industry, they have played a key role in its overall achievements.
KONČAR has also made notable
development strides in the transformer segment, among them the delivery of transformers featuring bluemint® Steel, a high-quality transformer core material produced with 50 percent lower carbon dioxide emissions compared to conventional manufacturing processes.
Additionally, KONČAR has developed a dedicated GREEN LINE of instrument transformers, which are shipped to customers worldwide.
The share of transformers made with environmentally friendly materials continues to grow, with the largest volumes currently delivered to Germany, Sweden, Denmark, the UK, US, and Australia – further underscoring the company’s global competitiveness.
In addition to KONČAR –Distribution and Special Transformers, KONČAR – Instrument Transformers and KONČAR – Power Transformers have also delivered outstanding results.
Elsewhere, compared to the previous year, KONČAR achieved double-digit growth in product sales revenue, with a significant portion of that generated in the US market, further confirming its strategic importance and global reach.
A key strategic milestone for KONČAR was the acquisition of Dalekovod, which created strong synergies between two experienced and capable companies actively engaged in some of the most important energy infrastructure projects across the EU.
One notable example is the construction of a new 420 kV transmission line on the Vik – Sogndal route in Norway, which includes a crossing over one of the country’s largest fjords – just one of many major projects Dalekovod is delivering in the Scandinavian market.
Thanks to its outstanding references, strong presence in demanding European markets, and the growing need for transmission network revitalisation, KONČAR –now further strengthened through strategic expansion – is poised to play a prominent role on the global stage in the years ahead.
ADVANCED TRANSFORMER MANUFACTURING
The unprecedented global demand for transformers and related equipment in the power transmission and distribution sector has introduced new challenges for the industry.
One of the key components in transformer production is the transformer tank, for which market demand continues to rise. To effectively respond to this growing need, KONČAR has once again joined forces with Siemens Energy, a global industry leader and long-standing partner.
Their successful collaboration dates back 30 years to the founding of KONČAR – Power Transformers in 1995. This joint venture (JV) between KONČAR and Siemens Energy, in which the former holds a 49 percent stake and the latter 51 percent, is now recognised as one of the world’s leading manufacturers of large power transformers.
In July 2024, KONČAR and Siemens Energy established a new joint venture, KONČAR – Transformer Tanks (KTK), with KONČAR holding a 60 percent majority stake and
Siemens Energy 40 percent.
As part of this initiative, a stateof-the-art transformer tank factory is nearing completion at KONČAR’s site in Sesvetski Kraljevec in Eastern Zagreb.
The facility will employ over 400 people, is scheduled to begin operations in early November 2025, and is projected to manufacture approximately 160 custom-made transformer tanks annually, tailored to meet the specific requirements of global markets and customers.
“It’s important to note that KONČAR has previously manufactured transformer tanks independently. However, the establishment of KTK significantly enhances our capacity and competitiveness in this segment,” Kolak emphasises.
“Strategic partnerships like the one between KONČAR and Siemens
Energy represent a major step forward in strengthening European industry, advancing technological development, and positioning Croatia on the global energy transition map.
“These collaborations allow us to expand production capacity, exchange knowledge and expertise, share risks, and improve market reach. Beyond boosting resilience and operational efficiency, such partnerships also create new jobs and open opportunities for mutual professional growth, innovation, and long-term business stability,” Kolak comments.
PIONEERING SUSTAINABLE URBAN MOBILITY
In the global race toward carbon neutrality, Croatia is making a meaningful contribution to Europe’s decarbonisation efforts – not only
through the integration of renewable energy and digital transformation but also the electrification of public transport and modernisation of rail systems with sustainable, green solutions.
At the forefront of developing advanced solutions for domestic urban mobility and infrastructure is KONČAR – Electric Vehicles (KEV), a company that leverages the knowledge and expertise of Croatian engineers.
With a rich tradition of in-house development, its high-tech products and solutions in the field of urban mobility and infrastructure have become synonymous with quality, innovation, and reliability.
A prime example is the latest generation of low-floor trains, widely regarded as Croatia’s most complex technological product. These trains embody the synergy of knowledge, capabilities, and competencies of local experts.
After unveiling its first batterypowered train and accompanying
“STRATEGIC PARTNERSHIPS LIKE THE ONE BETWEEN KONČAR AND SIEMENS
ENERGY REPRESENT A MAJOR STEP FORWARD IN STRENGTHENING EUROPEAN INDUSTRY, ADVANCING TECHNOLOGICAL DEVELOPMENT, AND POSITIONING CROATIA ON THE GLOBAL ENERGY TRANSITION MAP”
– GORDAN KOLAK, PRESIDENT OF THE MANAGEMENT BOARD, KONČAR GROUP
charging station at InnoTrans, the world’s largest transport technology fair held in Berlin in September last year, KONČAR has delivered its most anticipated innovations to Croatian railways this year – battery multiple units (BMUs) and battery electric multiple units (BEMUs), along with supporting infrastructure.
In May 2025, BEMUs – powered by a 100 percent electric drive and supplied with energy from both onboard batteries and the overhead
contact line – entered service.
Given a significant portion of Croatia’s railway network has still not been electrified, this hybrid technology offers an ideal solution for sustainable, carbon-neutral longdistance passenger transport across the country.
The debut of KONČAR’s BMU on Croatian railways this September marked a significant milestone –positioning it as the only train of its kind in commercial operation globally.
Both train types were developed under the Application of Green Technologies in Railway Passenger Transport project, funded by Croatia’s National Recovery and Resilience Plan 2021-2026.
As part of the project, six charging stations were installed at railway stations in Split, Osijek, Varaždin, Bjelovar, Virovitica, and Pula.
THE BEST OF BATTERY POWER
BEMUs offer 157 seated and 158 standing places and are designed for an average daily range of up to 480 kilometres (km) and 18 hours of operation.
They can be functionally coupled with the latest generation low-floor trains, enabling increased passenger capacity.
On non-electrified tracks, BEMUs reach a maximum speed of 160 km per hour (km/h) using battery power whilst on electrified tracks, powered via the overhead contact line. The
batteries can be charged either from the contact line or at dedicated charging stations.
On the other hand, BMUs reach a maximum speed of 120 km/h and offer 113 seated and 114 standing places. The optimal range per charge is well over 100 km, with testing showing it can reach distances exceeding 200 km on a single charge.
Like the BEMU, BMUs can be functionally coupled with the latest generation of low-floor trains, allowing for increased passenger capacity.
Both train types are equipped with ramps for wheelchair accessibility and accessible toilets, as well as dedicated bicycle spaces.
The entire passenger area is under video surveillance and features monitors for video content, visual and audio station announcements, and free onboard Wi-Fi for passengers.
“KONČAR’s new battery-powered trains, among the first of their kind globally, are a clear testament to the
SUSTAINABILITY BEYOND THE TREND
A key component of sustainable development for KONČAR is its dedication to community engagement and the well-being of people.
In its Sustainability Development Strategy for the period 2024-26, published early last year, the company placed particular emphasis on employee health and well-being, quality education through collaboration with Croatia’s academic community, gender equality, equal opportunities and dignified work for all employees, skills development, and active contributions to society through humanitarian and socially responsible initiatives.
Traditional volunteering activities also play a significant role in KONČAR’s environmental and community efforts. Each year, employees participate in reforestation campaigns across various locations in the country, leaving behind a healthier environment and a legacy of care for nature and future generations.
KONČAR is especially proud of its partnership with the Croatian Paralympic Committee, which reinforces the company’s commitment to diversity and inclusion whilst raising awareness of the challenges faced by people with disabilities.
One of the key goals of this collaboration is to foster a broader social and corporate culture defined by understanding, empathy, fairness, and equal opportunities.
fact we are not only keeping pace with much larger players but also leveraging our specialised expertise in highly focused technological niches, gaining a competitive edge. This positions us firmly among Europe’s most relevant high-tech manufacturers,” highlights Kolak.
“These two examples of our latest technological achievements –developed together with supporting infrastructure for our long-standing partner, Croatian Railways –demonstrate that we are successfully responding to the global demands of the green transition, both industrially and infrastructurally.
“Moreover, we possess all the prerequisites for a stronger presence in the European market, offering solutions for high-quality and long-term sustainable urban mobility,” he expands.
SETTING GLOBAL STANDARDS IN CYBERSECURITY
Whilst this is the fastest era of technological advancement and digital transformation in human history, it is also one of the most turbulent periods in terms of global instability, threats, and uncertainty.
From energy crises and supply chain disruptions caused by armed conflicts to macroeconomic volatility driven by shifting geopolitical dynamics, many of today’s industrial breakthroughs have emerged as direct responses to these global challenges.
Smart cities, automated industries, and advanced urban infrastructure are becoming essential, with data networks and digital systems increasingly integrated into critical infrastructure.
As a result, cybersecurity is no longer just a technological trend – it’s now a strategic imperative for all industry stakeholders.
Croatia can proudly point to KONČAR as a globally competitive representative and regional leader in technological development within this domain.
Backed by a team of top-tier experts, specialised knowledge, and a growing portfolio of references, the company is becoming increasingly recognised in this field.
Through strategic acquisitions in engineering, particularly digital solutions, KONČAR has strengthened its competencies and expanded access to new markets – positioning itself as one of the most serious IT players in the region.
Cybersecurity is one of the core specialties of KONČAR – Digital, which became the first company in the world to receive certification for cybersecurity compliance under the International Electrotechnical Commission (IEC) 62351 international standard in 2023.
This important certification was awarded by the renowned German certification body TÜV NORD, representing one of the highest recognitions of excellence and alignment with the latest global cybersecurity standards for managing critical infrastructure systems.
The first digital solution in the world to receive this certification, and one of the most representative digital products of Croatian industry, KONČAR’s PROZA Station is designed for the cybersecurity management of transformer substations and other critical infrastructure systems.
So, what exactly is PROZA Station? It is KONČAR’s next-generation supervisory control and data acquisition (SCADA) software, a field in which the company has been recognised for many years.
Indeed, PROZA Station is a flagship example of KONČAR’s capabilities, built from over 40 years of experience in developing industrial software used for monitoring, controlling, and optimising infrastructure in sectors such as power engineering, e-mobility, data centres, transportation, water supply, and other transmission, distribution, and urban infrastructure systems.
The solution can be integrated with communication and protectioncontrol devices from various manufacturers and is based on the modern PROZA HAT software platform, which supports the development of SCADA systems for real-time monitoring and control of critical infrastructure whilst also enabling rapid customisation and the creation of entirely new solutions.
A key feature of this advanced system is its ability to operate in a private cloud environment using Docker containers, which enhance efficiency in data centre deployment and maintenance and introduce additional digital redundancy to improve the resilience of critical
infrastructure systems.
PROZA Station is currently in pilot for commercial use at several transformer substations in Croatia and abroad, and KONČAR plans to launch several new digital solutions based on the PROZA HAT platform – particularly in the areas of solar power plant monitoring and control, transport infrastructure, and advanced asset management for energy systems.
HOME-GROWN TALENT, WORLD-CLASS EXPERTISE
KONČAR’s globally established reputation is built primarily on technological products and solutions that stand out for two key reasons.
First, they are developed and manufactured according to a custommade approach, tailored to meet even the most complex requirements of clients worldwide – including some of the largest power systems.
Second, and most importantly, every KONČAR product and solution is created by Croatian experts, many of whom began developing their skills within the company as early as their academic years.
With nearly 6,000 employees, KONČAR is not only one of the largest employers in the country but also one of the most desirable.
A significant portion of the workforce consists of highly educated professionals – such as electrical and mechanical engineers – including more than 50 PhDs, a competitive advantage the company is proud of.
For over six decades, KONČAR has fostered a tradition of academic excellence and close collaboration with the Croatian education system.
“WE ARE PROUD TO SAY KONČAR STANDS SHOULDER TO SHOULDER WITH BOTH DOMESTIC AND INTERNATIONAL COMPETITORS WHEN IT COMES TO THE ENGINEERING AND TECHNOLOGICAL COMPETENCIES OF OUR EMPLOYEES AND THE ACCUMULATED EXPERTISE WITHIN THE COMPANY”
– GORDAN KOLAK, PRESIDENT OF THE MANAGEMENT BOARD, KONČAR GROUP
Many employees actively contribute to higher education as lecturers, course co-organisers, and lab instructors at the nation’s leading universities.
This scientific and professional cooperation allows many promising students to engage with the company during their studies and gain hands-on experience through internships at KONČAR businesses.
A large number of these students eventually join the company, taking their first professional steps in the offices, laboratories, and production facilities of one of Croatia’s most prominent industrial manufacturers.
“We are proud to say KONČAR stands shoulder to shoulder with both domestic and international competitors when it comes to the engineering and technological
competencies of our employees and the accumulated expertise within the company,” Kolak glees.
“This is clearly reflected in the final products we deliver to markets worldwide – products that are highly complex and technologically demanding. Designing and manufacturing a train, tram, transformer, or custombuilt generator tailored to specific customer requirements, whilst remaining cost-competitive, is an exceptional achievement. Ultimately, this speaks volumes about the high level of rare and specialised technological knowledge held by the people at KONČAR,” he adds.
Systematic investment in the personal and professional development of employees has been at the core of the company’s capital investments over the past five years, and KONČAR remains committed to this mission in the years ahead.
“Supporting the growth of our
people and providing competitive working conditions to enhance employee satisfaction will be one of our top priorities in 2025 and beyond. With a strong order book and a strategic framework focused on fostering a culture of excellence, we expect continued growth across all business segments and an even stronger market presence – not only as a competitive technology manufacturer but also as one of the most attractive employers in Croatia,” Kolak closes.
PEOPLE, INNOVATION, INVESTMENT
KONČAR is entering a new era of fully equipped power engineering products thanks to timely and strategic investments in both capacity and competencies. These efforts have positioned the company as a leader in emerging technological trends.
Indeed, over the past several years, KONČAR has made significant investments in expanding its production and research capabilities, accelerating digital transformation, and supporting the continuous development of its people.
With the launch of its new business strategy – ‘People, Technologies, Investments – KONČAR 2030’ – the company is intensifying its transformation, aiming to strengthen its global presence through a modern, digitalised portfolio of products, solutions, and services across the energy, transport, and industrial sectors.
Looking ahead, KONČAR plans to continue with extensive capital investments, focusing not only on new technologies and innovation but also on R&D, modernisation of production facilities, and most importantly – people.
The strategy places a strong emphasis on attracting and retaining talent whilst enhancing market competitiveness through the development of internal resources.
Building on strong contractual
commitments, an increasingly prominent global position, and clear market trends, KONČAR has set highly ambitious goals for the period leading up to 2030.
In this time, the company aims to increase the share of total revenue of services to 15 percent, achieve 85 percent of its revenue through exports, establish three regional hubs globally, and become the first choice in the power industry across Central and Eastern Europe.
Aligned with a culture rooted in excellence and continuous technological advancement, KONČAR also plans to digitalise 80 percent of its product portfolio and further strengthen its position as the most desirable employer in Croatia’s energy transition.
In pursuit of a net zero scenario, the company is also committed to reducing Scope 1 and 2 emissions by 45 percent and developing over 500 MW of its own renewable energy sources by the end of the target period.
KONČAR is thinking broadly, globally, and ahead of the current energy industry. With extensive experience and key transformation processes already underway, the company continues to lead the regional landscape into a new era of power and energy.
Positioned as key enablers of the increasingly prevalent energy transition, Nooter/Eriksen Milan has become an industry leader in sustainable energy management, specialising in world-class heat recovery steam generators amongst other state-of-the-art products. We delve into the company’s innovative solutions
Writer: Lucy Pilgrim | Project Manager: Cameron Lawrence
The sustainable energy management sector continues to evolve at pace, expected to be worth over USD$111 billion by 2030.
Such rapid development is primarily driven by growing digital technologies and an industry-wide push towards electrification, which are steadily increasing demand and calling for more forward-looking energy solutions.
At the helm of this evolution is Nooter/Eriksen Milan (Nooter/ Eriksen), a leading specialist in sustainable energy management,
responsible for designing and constructing cutting-edge equipment for more efficient power plants worldwide.
Established in 1987, the company was formed from an amalgamation of two local businesses, whose combined expertise created the perfect formula for continuous growth into a vast range of energy markets.
Today, Nooter/Eriksen is proud to be part of CIC Group, a US-based industrial holding company renowned for advancing global energy infrastructure.
Nooter/Eriksen is a fundamental component in this mission as it brings value to sustainable power through long-standing process and thermal design expertise across gas-fired power plants, ensuring its customers’ facilities are as economical and environmentally friendly as possible.
More specifically, it delivers unmatched knowledge and support services to unlock efficiencies and minimise unnecessary power and heat wastage, allowing plant owners to enjoy tangible profit margins whilst also reducing their greenhouse gas (GHG) emissions.
Leveraging the financial muscle of CIC Group, Nooter/Eriksen strives to continue its vision of reducing the negative environmental impacts associated with the energy industry in collaboration with its customers, delivering cutting-edge solutions across the world to eliminate power and energy wastage.
LEADING THE WAY
Delivering mission-critical infrastructure to gas plants across the world, Nooter/Eriksen is a world leader in heat recovery system generators (HRSGs) which are key to improving plant efficiency and cutting GHG emissions.
With more than 1,000 HRSGs in operation globally, the company’s leading heat recovery technology has evolved to meet the growing needs of combustion turbines and achieve key targets in thermal performance and sound and emissions reduction.
Nooter/Eriksen’s primary offering comprises a natural circulation system with a horizontal exhaust flow and vertical tube design, both with internally insulated casing and structure. The company is also on-hand to offer alternative vertical solutions when needed.
Once-through steam generators (OTSGs), also available to clients, use two single-pass stages to evaporate and partially superheat steam flows
once through the initial stages.
Nooter/Eriksen’s leading HRSG technology is specially designed to alleviate concerns around constructability, shipping, reliability, and maintainability, whilst still meeting project requirements.
Regarding the former, the company guarantees low installation costs through tailored field construction solutions that overcome local building challenges and in-land transportation restrictions.
Indeed, design details are purposefully curated to minimise field construction hours whilst maximising the size and scope of components, which can be designed to accommodate jobsite space and crane limitations.
Elsewhere, Nooter/Eriksen designs and supplies a vast portfolio of comprehensive products which help it to meet increasing industry demand and advance customers’ plants across the world.
DYNAMIC AND DEPENDABLE
Nooter/Eriksen is distinguished in the sustainable energy management sector by its unmatched experience and adaptability, with a diversified project portfolio at each customer’s disposal.
Indeed, sustainability principles are considered from the earliest stages of engineering and product development, compounded by the company’s cutting-edge planning and implementation strategies upheld by
a project management-centric ethos.
As a result, clients can trust that each contract is executed in a timely manner and to a world-class standard, no matter its complexity.
On top of this, Nooter/Eriksen specialises in international procurement and sourcing, drawing from an extensive global supplier network that ensures the sound delivery of products.
For instance, the company depends on the expertise of steel and manufacturing suppliers across many parts of Asia, including Thailand, China, South Korea, and Vietnam, whilst acquiring many of its emission control devices and systems from vendors in the US and Europe.
Nooter/Eriksen’s international partnerships are forged in the same way it nurtures client relationships – establishing collaborations built on mutually understood goals and objectives.
NOOTER/ERIKSEN PRODUCTS - AT A GLANCE
• HRSGs
• Selective catalytic reduction and carbon monoxide catalyst systems
• Molten salt receivers to be integrated into concentrated solar power towers
• Fired boiler packages
• Grate combustion boiler packages for WtE and biomass plants
• Enhanced oil recovery steam generators
• Low-low temperature economisers
To ensure a clear set of standards are consistently met, the company puts both its suppliers and products through rigorous testing, inspection, and quality controls to guarantee sourced products meet customer expectations.
Nooter/Eriksen also works with notable engineering, procurement, and construction (EPC) companies such as Bechtel Corporation, GE Vernova, Siemens Energy, and many more.
EXPANDING HORIZONS
Nooter/Eriksen has achieved an enviable global footprint, with its Italian headquarters (HQ) supported
by offices in the US, UK, South Korea, Thailand, the United Arab Emirates, and China.
This allows the company to be in close proximity to its international customer base thanks to a further 19 remote sales representatives, enabling it to provide localised support.
In particular, Nooter/Eriksen’s Italian HQ specialises in world-class aftermarket services, having recently launched its new Waste-to-Energy (WtE) and Aftermarket Department, collating WtE and biomass expertise under one roof.
This means that clients now have an end-to-end point of contact
throughout their project lifecycle, from initial ideation through to design, engineering, manufacturing, and construction, making the company a trusted supplier of energy management services.
In addition to project execution, Nooter/Eriksen is also on hand to provide post-competition support services, including maintenance, spare parts, performance optimisation, and equipment upgrades.
Going beyond mere organisational restructuring, the creation of the WtE and Aftermarket Department signifies a step change in client support and underpins the company’s ongoing commitment to project delivery.
Your Global Strategic Partner in Steel Piping and Tubing Solutions
SINCOO METAL LIMITED
is one of the most reliable and globally active sales and marketing organisations in the steel pipe and tube industry. With over 15 years of experience, we have built a solid worldwide network and provided comprehensive steel piping and tubing solutions for a broad range of industries — including Power Generation, Oil and Gas, Chemical and Petrochemical, Automotive, Rail Transportation, Offshore, and Construction.
2023: Continued cooperation with a supply volume of 5,440 tonnes.
Our product portfolio covers stainless steel and alloy steel seamless pipes and tubes, welded pipes and tubes, fittings and flanges. Thanks to our long-term partnerships with first-class manufacturers in China, we are able to guarantee premium quality, stable supply, and cost-effective solutions for both bulk project orders and customised requirements.
In the Power Generation sector, SINCOO has built a strong reputation in the Heat Recovery Steam Generator (HRSG) field — a core component of Combined Cycle Power Plant (CCPP) projects. We specialise in supplying super-long tubes for modules and large-diameter pipes and fittings for headers, nozzles, and piping spools. With years of experience supporting global CCPP projects and profound technical experience, we provide reliable and complete solutions that meet the high technical specifications of leading project owners and EPCs.
Since 2021, SINCOO has established a strong partnership with Nooter/Eriksen (NE), a world-leading specialist in sustainable energy management. By successfully delivering complete packages in different projects with NE, SINCOO has made steady progress in the CCPP field:
2021: Partnered with NE for the Syrdarya Combined Cycle Gas Turbine (CCGT) Power Plant Project in Uzbekistan, supplying module tubes and header and nozzle pipes totalling 3,882 tonnes, officially entering NE’s supplier list.
2022: Cooperation deepened with a supply of 5,800 tonnes of tubes, pipes, and fittings for the Tuxpan CCPP, González Ortega Power Station, and San Luis Rio Colorado CCGT Power Plant Project.
2024: Supplied 7,900 tonnes of tubes and piping products for Saudi Arabia’s Taiba-2 and Qassim-2 decarbonised CCGT Projects (2 × 1,800 MW).
2025: Undertook Saudi Arabia’s Ghazlan and Hajr Projects, totalling 8,256 tonnes of supplied materials.
SINCOO believes that material quality defines project success. We maintain direct cooperation with top-tier steel mills and global manufacturers to ensure all products meet international standards and strict project specifications. For example, as the sole export agent of Jiangsu Yinhuan, a world-leading seamless stainless steel pipe and tube manufacturer, we fulfill this commitment by delivering not only high-quality products but also technical consultation, material selection advice, and project-based support.
These services extend across all our partnerships, allowing SINCOO to provide complete end-to-end solutions — from production and quality control to logistics and after-sales service — simplifying complex global procurement processes whilst helping clients reduce costs and improving competitiveness.
At SINCOO, we focus on one mission — to make our valued clients more valuable.
Nooter/Eriksen is also proud to have been recently awarded a new project in Southeast Asia, which involves three two-pressure-level HRSGs. Significantly, these are fitted with next-generation technology to ensure maximum efficiency and reliability for the project, enabling the power plant to effectively meet the needs of the oil and gas sector.
This project represents a major progression in the company’s longstanding collaboration with the client, further solidifying the partnership.
FORGING A SUSTAINABLE FUTURE
Through its operations, Nooter/ Eriksen recognises that effective energy management – and the way power is produced and transformed
– are key obstacles facing sustainable development and combatting climate change.
On a mission to bring value to sustainable energy management, environmentally friendly operations are at the heart of the business, as is Nooter/Eriksen’s dedication to collaborating with local communities in its supply chain.
The company’s principles and commitments are defined in its Code of Sustainability, which is drawn from the UN’s Sustainable Development Goals (SDGs).
Elsewhere, at the core of the company’s spirit is an ownership mentality which has carried it from strength to strength, as each staff member has a vested interest in the success of the business, leading to
NOOTER/ERIKSEN TIMELINE
• 1987 – Founded from the amalgamation of Eriksen Engineering in Tulsa, Oklahoma and Nooter Cogan Group located in St. Louis, Missouri, where the company opened its inaugural facility.
• 1992 – Awarded its first HRSG contract for a project in Medway, UK. This also marked Nooter/Eriksen’s first design with reheat systems for improved plant efficiency.
• 1993 – Became the first HRSG supplier in the US to be ISO 9001-certified and obtained an Occupational Health and Safety Assessment Series (OHSAS) 18001 certification.
• 1998 – Awarded the first HRSG used in the Westinghouse W501G gas turbine as part of the Millennium Power Plant Project in Massachusetts.
• 2006 – Worked on a project with Toshiba that meant Nooter/Eriksen was the first supplier to import a large HRSG into Japan.
• 2010 – Awarded the first H-Class HRSG for the US market.
• 2011 – Awarded the first J-Class HRSG from Mitsubishi Motors for the Yulchon Power Project in South Korea. The company was also awarded the Crescent Dunes Solar Energy Project – the first concentrated solar power plant with a central receiver tower and advanced molten salt energy storage technology.
• 2017 – Developed supercritical HRSG technology.
• 2019 – Acquired Pensotti Technology – an Italian boiler manufacturer –greatly expanding Nooter/Eriksen’s product range.
• 2020 – Signed an exclusive licensing agreement with HydroFLOW USA to combine electronic water conditioning technology with power generation, refining, and other industrial facilities.
• 2023 – Launched NEXT – a new business unit that designs and supplies cooling towers and air-cooled condensers for different industries and applications.
consistently outstanding results and steadfast project execution.
With this in mind, Nooter/Eriksen proactively creates a workplace environment where each employee feels valued and empowered to do their best work, enabling them to contribute ideas to better the business.
This is underpinned by Nooter/ Eriksen’s dedication to the provision of equal treatment, applicable to all in-house staffing decisions including recruitment, hiring, placement, development, promotion, training, scheduling, benefits, and compensation, amongst other areas.
To further value its team members, the company continually facilitates staff development opportunities to allow them to reach their full potential, including on-the-job training, in-house education initiatives, and a tuition reimbursement programme to support growth across the organisation.
Such comprehensive employment strategies correlate with Nooter/ Eriksen’s unmatched capabilities in designing and constructing stateof-the-art equipment, cementing the company’s position as the world’s leading specialist in energy management.
THE FINAL WORD
To round off each issue, we ask our contributing business leaders for their views on the same question
WHAT
IS THE BEST PIECE OF ADVICE YOU HAVE RECEIVED?
Laurence Goodacre
Vice President of Africa, Orica
“The best piece of advice I’ve ever received is fail fast to succeed quicker.”
Diego Vallim
Vice President of Europe, the Middle East, and Central Asia, Orica
“To help our customers mobilise the Earth’s resources in a sustainable way. This is the main thing we want to do as a company
to support our customers and industry. We guarantee a sustainable approach to the environment, communities, and safety. I think this is the core of what we do.”
George Vella Chairman, FinanceMalta
“Surround yourself by people who are better than you because that is the only way to improve yourself. Therefore, whenever I was weak or not intelli-
gent enough in the past, I have always been able to draw strength from those around me.”
Andrei Stanciu
CEO, Somet
“It’s hard. It’s supposed to be hard; really hard is when most people quit. Don’t be most people.”
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