Eversendai

What Eversendai does

Eversendai Corporation Berhad is a Malaysia-headquartered, publicly listed global specialist structural steel contractor founded in 1984, operating through seven fabrication facilities across Malaysia, Singapore, Dubai, Sharjah, Ras Al Khaimah (UAE), Qatar, and India, with combined annual capacity exceeding 200,000 tonnes and a workforce of over 15,000. The company's core business is turnkey structural steel engineering, fabrication, and erection for complex architectural and industrial structures — including high-rise towers, stadiums, airports, power plants, oil and gas offshore platforms, and offshore wind jacket foundations. Notable technology capabilities include 3D Tekla BIM modeling from connection design through construction sequencing, Architecturally Exposed Structural Steel (AESS) execution to 1mm tolerances, heavy-lift erection engineering, and complete detailed design of self-propelled jack-up liftboats (GustoMSC NG-2500X class).

Eversendai generates revenue primarily through project-based B2B contracts awarded by project owners, government entities, and main contractors via competitive tenders and direct negotiation, with no standardized pricing. Key revenue streams include structural steel turnkey contracts (the core), power plant construction, oil and gas fabrication (enabled by Saudi Aramco 9COM certification at the Ras Al Khaimah yard), offshore wind renewable energy jacket/substation fabrication for European projects, and managed services revenue from two Vahana Offshore liftboats operating under long-term charter to Zamil Offshore for Saudi Aramco. Strategic partnerships include Emirates Steel (NEOM Trojena), Hyundai Engineering & Construction (global modular EPC), Petrofac (European offshore wind), and Saipem (Saudi Aramco LTA conduit).

The customer base spans government and quasi-government clients (Qatar Supreme Committee, Ashghal, MATAR, Dubai Future Foundation), oil & gas majors (Saudi Aramco, via Saipem), and large real estate developers (Lusail Real Estate Development, DLF, Emaar). Geographic revenue concentration is heavily skewed to the Middle East (~67-69% in FY2014-FY2017), with material exposure to Southeast Asia and India, and growing penetration into European offshore wind. Revenue history shows RM1.002B in FY2014, RM1.57B in FY2016 (with a RM248M pre-tax loss tied to oil & gas downturn), recovery to RM1.83B in FY2017 with RM95.9M PBT, and significant re-acceleration through the 2020-2025 period driven by Middle East mega-projects, the Vahana Offshore integration, and European offshore wind contracts.

Name

Eversendai

Legal name

Eversendai Corporation Berhad

Website

https://eversendai.com

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Eversendai Corporation Berhad is a Malaysia-based global specialist structural steel contractor, providing turnkey engineering, fabrication, and erection services for iconic buildings, oil & gas platforms, power plants, and offshore wind structures across 14+ countries.

Ownership category

akta.pro rank

Product category

Structural Steel Engineering and Construction Services

NAICS

Fabricated Structural Metal Manufacturing (332312)

SIC

Miscellaneous Fabricated Metal Products (3490), Fabricated Plate Work (Boiler Shops) (3443)

akta.pro primary industry

Steelwork & Fabrication Facilities (Plate/Section Processing, Welding Lines) (IMAJALAH)

akta.pro secondary industry

Offshore Wind & Renewable Support Vessel Construction (SOV, CTV, WTIV) (IMAJACAG)

Keywords

• Structural steel contracting
• Steel fabrication services
• Offshore wind structures
• Power plant construction
• Oil and gas fabrication

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Structural Steel Turnkey Contracts: Core revenue stream from end-to-end structural steel engineering, fabrication, and erection contracts. Covers connection design, material supply, fabrication, surface preparation, painting, and site erection/installation for high-rise buildings, stadiums, airports, stadiums, and industrial structures. Revenue is project-based and typically one-time per contract, though the company maintains a continuous flow of projects through its large order book.
2. Power Plant Construction: Specialist power plant contractor delivering structural and mechanical works for coal-fired, gas, and power generation facilities. Includes fabrication and installation of structural steel, ducts, and mechanical systems for power plants such as Jimah East 2x1,000MW Super-Critical Coal Fired Power Plant and Tanjung Bin Power Plant.
3. Oil and Gas Fabrication: Onshore and offshore fabrication for refineries, petrochemical plants, offshore platforms, and marine structures. Includes jacket and pile fabrication for Saudi Aramco, offshore support facilities, and liftboat construction. Saudi Aramco 9COM certification enables direct work on Saudi Aramco projects.
4. Offshore Wind Renewable Energy: Engineering, fabrication, and construction of jacket structures, substation platforms, topsides, and piles for European offshore wind farms. Projects with Petrofac for TenneT (Netherlands) and UK offshore wind farms represent new growth vertical.
5. Liftboat Charter and Operations: Following the 2020 merger with Vahana Offshore, Eversendai owns and operates two liftboats (Vahana Aryan and Vahana Arjun) providing offshore maintenance, workover, and installation services under long-term time charter contracts with Zamil Offshore for Saudi Aramco.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

Eversendai is a global specialist structural steel contractor delivering turnkey engineering, fabrication, and erection services for high-rise buildings, power plants, industrial plants, oil & gas facilities, and offshore wind renewable energy projects. The company operates seven fabrication facilities across Malaysia, Singapore, UAE, Qatar, and India with combined annual capacity exceeding 200,000 tonnes, backed by 15,000+ workforce and 40+ years of experience. Service scope spans connection design, BIM 3D Tekla modeling, material supply, fabrication, surface preparation, painting, erection, metal decking, and fireproofing.

Product overview

Eversendai is a global specialist structural steel contractor offering an integrated suite of services spanning engineering, fabrication, and installation. The company's core offerings include Structural Steel Engineering (with BIM 3D Tekla capabilities), Structural Steel Supply & Fabrication (seven facilities with 200,000+ tonnes annual capacity), Structural Steel Installation, Power Plant Construction, Oil and Gas Fabrication, and Offshore Wind Renewable Energy solutions. Add-on services include Metal Decking and Fireproofing. Eversendai's portfolio features landmark projects including Burj Khalifa, Petronas Tower 2, Hamad International Airport, Museum of the Future, and various stadium and infrastructure projects across the Middle East, Asia, and Europe.

Differentiator

Problem solved

Functional benefit

Products and services

• Structural Steel Engineering Engineering services for structural steel including connection design, BIM 3D Tekla modeling, and construction analysis for complex structures such as high-rise buildings, stadiums, and architectural landmarks. Delivered to project owners, developers, and main contractors.
• Structural Steel Supply & Fabrication Fabrication of structural steel components at seven facilities across Malaysia, Singapore, UAE, Qatar, and India with combined annual capacity exceeding 200,000 tonnes. Delivered to enterprise construction projects across Asia and the Middle East.
• Structural Steel Installation Site assembly and erection of structural steel works including specialized installation for architecturally exposed steel structures (AESS) requiring tight tolerances and complex geometries. Delivered to project owners and main contractors on landmark buildings and infrastructure.
• Power Plant Construction Construction of power plant structures including coal-fired, gas, and super-critical power plants, with capabilities for mechanical and steel structure works. Delivered to power generation utilities and IPPs.
• Oil and Gas Fabrication Onshore and offshore fabrication for oil and gas facilities including platforms, jackets, process modules, and liftboats. Saudi Aramco 9COM certified for offshore platform and jacket fabrication at the RAK Maritime City yard. Delivered to national oil companies and EPC contractors.
• Offshore Wind Renewable Energy Engineering and fabrication of jacket structures, offshore substations, and foundation components for offshore wind farms in Europe. Delivered to wind farm developers and EPC contractors including projects for Petrofac and TenneT.
• Liftboat Charter and Operations Ownership, operations, and chartering of self-propelled jack-up liftboats for offshore maintenance, workover, and installation services. Vahana Aryan and Vahana Arjun operate under long-term time charter contracts with Zamil Offshore for Saudi Aramco.

Named customers14 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, flagship and minor.

• Emirates SteelcoreStrategic or Co-development Partner · 19 July 2024Eversendai partnered with Emirates Steel for the NEOM Trojena Ski Village project in Saudi Arabia. This partnership positioned Eversendai as the structural steel specialist for one of the NEOM mega-project components. The partnership was subsequently affected as the Trojena project faced contract cancellations in 2026 due to escalating Middle East geopolitical tensions.
• Vahana Offshore (M) Sdn BhdflagshipStrategic or Co-development Partner · 1 July 2020Eversendai acquired 100% equity interest in Vahana Offshore through a RM235 million RCPS transaction. Vahana owns and operates two liftboats (Vahana Aryan and Vahana Arjun) with long-term time charter contracts with Zamil Offshore for Saudi Aramco. The merger creates an integrated energy services company combining structural steel fabrication with liftboat operations for oil & gas and offshore wind sectors.
• Petrofac LimitedcoreStrategic or Co-development Partner · 1 June 2020Eversendai Offshore was awarded two European offshore wind renewable energy projects by Petrofac Limited, totaling RM186 million. Contracts include fabrication of offshore wind substation platform topside, jacket and piles for a UK offshore wind farm, and jacket & piles for Hollandse Kust Zuid Beta for TenneT in the Netherlands. Both projects executed at the RAK Maritime City fabrication yard.
• Hyundai Engineering & Construction Co LtdflagshipStrategic or Co-development Partner · 29 April 2020Eversendai Offshore signed a Memorandum of Understanding with Hyundai Engineering & Construction as Global Strategic Partners for modular construction work in both the construction and energy industries. The partnership leverages Eversendai's 200,000 sq.m. waterfront fabrication yard in RAK Maritime City for large modular fabricated and constructed structures, serving both Western and Eastern hemispheres. Projects are jointly pursued in international markets based on combined expertise.
• Kuwait Integrated Petroleum Industries Company (KIPIC)minorStrategic or Co-development Partner · 1 January 2019Eversendai completed the Offshore Support Facility Building for the Al-Zour Refinery on a turnkey EPCC basis, completely engineered, fabricated, and constructed on a modularised basis in the RAK waterfront fabrication facility. This served as a reference project demonstrating modular construction capabilities.
• Saipem S.p.A.coreChannel Partner/ Reseller/ Distributor · 6 November 2017Eversendai Offshore received a major offshore fabrication project for Saudi Aramco through Saipem S.p.A., which is one of Saudi Aramco's Long-Term Agreement (LTA) Engineering Procurement and Construction contractors. Saipem acts as the conduit through which Eversendai accesses Saudi Aramco offshore fabrication projects, enabled by Eversendai's 9COM certification.
• Vahana Offshore (S) Pte LtdflagshipStrategic or Co-development Partner · 15 January 2015Eversendai Offshore was commissioned by Vahana Offshore (S) Pte Ltd to build two GustoMSC NG-2500X self-propelled jack-ups (liftboats), named Aryan and Arjun. The keel laying ceremony was held at the RAK Maritime City yard with DNV-GL as the classification society. This project established Eversendai as the first Malaysian company to build and own liftboats.
• Technics Oil & Gas LtdcoreStrategic or Co-development Partner · 11 March 2013Eversendai Corporation Berhad formed a joint venture company with Technics Oil & Gas Ltd, expanding its oil and gas business. This followed Eversendai acquiring an equity stake in Technics Oil & Gas Ltd in November 2012, enabling entry into the oil & gas fabrication sector.

Scale indicators16 records

Recent moves1 record

Expansion highlights6 records

Broad incumbents

• Saipem: Italian EPC contractor for oil & gas and offshore projects. Comparable as a Saudi Aramco LTA contractor through which Eversendai has channel access, and as a broader offshore fabrication competitor.
• McDermott International: Global offshore engineering, procurement, construction and installation contractor serving oil & gas and offshore wind. Comparable as a larger incumbent in offshore fabrication with overlapping capabilities.
• Larsen & Toubro: Indian construction and engineering conglomerate with extensive structural steel, infrastructure, and power plant capabilities. Comparable as a broader incumbent serving similar end markets across the Middle East and India.
• Shapoorji Pallonji Group: Indian construction conglomerate with structural steel and infrastructure capabilities across the Middle East. Comparable as a broader Indian-headquartered incumbent serving similar end markets.

Direct peers

• Smulders: Belgian-Dutch structural steel and offshore foundation fabricator specializing in offshore wind jacket foundations and substations. Highly comparable for Eversendai's European offshore wind jacket and substation platform work.
• Lamprell: UAE-based offshore and onshore fabrication contractor serving oil & gas and offshore wind markets with similar jack-up and jacket fabrication capabilities. Comparable as a direct competitor in RAK-region offshore fabrication.
• Zamil Steel: Saudi Arabia-based structural steel contractor serving the Middle East with pre-engineered steel buildings and heavy structural steel work. Directly comparable as a regional structural steel specialist competing for the same Middle East mega-projects.

Regional players

• Gamuda Berhad: Malaysian-listed construction and infrastructure group with regional project execution capabilities. Comparable as a Malaysian peer operating across similar construction and infrastructure end markets.
• IJM Corporation: Malaysian-listed construction and property group with regional infrastructure capabilities. Comparable as a Malaysian peer with overlapping construction and infrastructure exposure.

Emerging players

• Bladt Industries: Danish offshore wind foundation and substation fabricator with strong European offshore wind track record. Comparable as a specialist in jacket foundations and transition pieces for offshore wind farms.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@EversendaiCorporationBerhad
• LinkedInlinkedin.com/company/eversendai-engineering-l-l-c-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eversendai