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FINANCIAL NEWS
Dubai’s elseco to post USD97m revenue in 2015
18 Jun 2015
(MENAFN) Dubai’s elseco, one of the best satellite insurers worldwide, is forecast to record USD97 million revenue this year, USD80 million coming from space and USD7 million from its energy operations, Reuters reported.
Furthermore, the company expects to increase its revenues four times more during the upcoming five years, driven by future expansion schemes that cover up the energy and aviation sectors, according to elseco’s chief executive.
“I created the company here because the manufacture of satellites was moving east with China, India, Korea, Japan launching more and more satellites,” the chief executive said.
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