Amiantit contracts exceed US$211 million in 2005's first half in Gulf countries, Yemen
Saudi Arabian company secures contracts in the Gulf Coast Countries totaling US$211 million for the first half of 2005 to supply various types of pipes for industrial and infrastructure projects in Saudi Arabia, UAE, Qatar, Kuwait, Oman, and also in Yemen...
DAMMAM, Saudi Arabia, Aug. 8, 2005 -- The Amiantit Group has secured contracts in the Gulf Coast Countries (GCC) totalling US$ 211 million for the first half of 2005 to supply various types of pipes for industrial and infrastructure projects in Saudi Arabia, UAE, Qatar, Kuwait, Oman, and also in Yemen.
"The boost in the demand over our products that are developed at our own R&D centres and backed by international quality certificates indicates the awareness of our customers." said Fareed Yousef Al-Khalawi, Amiantit's Group CEO and Managing Director. This announcement was issued after the approval of Amiantit General Assembly meeting to increase the capital from US$205 million to US$308 million. "In fact, the Amiantit Group today is a global giant with 34 pipe manufacturing facilities in 16 countries worldwide and ranks as the world's biggest manufacturer of GRP pipes, one of the leading suppliers of other types of pipes, and the industry's leader in research, development and ownership of advanced pipe manufacturing technologies."
Ductile iron pipes orders were particularly on the rise and included replacement of asbestos cement pipes in the UAE -- a substance which is internationally banned. SADIP, located in Dammam in the east of Saudi Arabia, is the largest ductile iron pipe factory in the Middle East and it is a member of the Amiantit Group.
Based in Dammam, the Amiantit Group (www.amiantitgroup.com) is a leading industrial organization with global strength and is comprised of companies in the Kingdom and abroad that manufacture various kinds of pipes, joints, fittings, tanks, rubber & insulation products, and related accessories. Other activities include own and transfer technology, and water project consultancy and management all around the world.