The market for construction equipment is booming in Iraq, and Khudairi Group has grown to become one of the leading players. Iraq Business News spoke with the company’s Executive Vice President, Subhi Khudairi (pictured), to get his perspective on this key sector.
Iraq Business News: Our readers are very familiar with the general Iraqi growth story, but what annual growth rates are you seeing specifically in the heavy equipment sector?
Subhi Khudairi: Exact data is hard to come by in Iraq, but growth is certainly in double-digit percentages, coming from both construction and energy.
IBN: What current market share do you have?
SK: We operate throughout the whole of Iraq, and calculate that we have about five percent of that market, but if we can provide the level of service our customers require we believe we can grow that to ten percent in the next two years.
IBN: And what sort of services are your customers now looking for — what trends are you seeing?
SK: The main trend that we are seeing is a shift towards focussing on the total cost of ownership, regardless of whether a customer is buying or renting. They don’t just want the machine, they want the services, the warranties, the genuine spare parts. Time is money, and downtime will not be excused. Our continued success depends on providing solutions that meet and exceed those requirements.
IBN: So what can you do to satisfy those customers?
SK: It starts with having the right product. We supply construction equipment from John Deere and cranes and excavators from Sany, all of which are built to the highest quality. We then provide a “cradle-to-grave” service throughout the life of a project, supporting the customer in all aspects of maintenance and equipment management. Our family reputation depends on getting that right and keeping the customer happy.
IBN: Where can people find out more?
SK: Come join us for our Customer Day at our John Deere showroom in Erbil on June 12th at 11 am to see heavy machinery demonstrations, talk to Khudairi Group’s owners and management about your needs, and eat some great food. It promises to be an exciting day with lots of people attending, including the US Consul General.