• Environment-friendly corrosion-resistant pipe systems to supply water for domestic infrastructure projects
DAMMAM, Saudi Arabia, July 16, 2007 -- Amiantit Fiberglass Industries India Limited, a joint venture company formed between the Saudi Arabian Amiantit Company and the Salgaocar Group of Goa, India, in recent weeks has been awarded four contracts amounting to US$ 19,419,000 (SAR 72,787,500). The three main orders, worth US$ 18,760,000 (SAR 70,350,000) are for Amiantit Flowtite corrosion-resistant, environment-friendly pipe systems for domestic water supplies in the states of Rajasthan, Andhra Pradesh and Kerala.
The fourth order is from an international oil company, which is among the fastest growing in the retail outlet segment in India, for 70 double wall storage tanks which are also produced using the Flowtite fiberglass continuous filament winding process, a manufacturing technology for which Amiantit owns the exclusive world patents.
"Amiantit Fiberglass India has been a winner all the way since the day the manufacturing facility in Goa commenced operations in 2004," said Eng. Fareed Al-Khalawi, President & CEO of the Amiantit Group. "While our core product there is pipe systems, there has been an exceptionally large demand for our single and double wall tanks for both above ground and underground storage of gasoline, with large orders coming from two of India's leading privately-owned petroleum companies, both of which are in the process of expanding their retail gas stations enormously, a sure sign of India's rapidly increasing economic growth and prosperity."
The technology to produce GRP double wall tanks was developed in Saudi Arabia by Amiantit Fiberglass Industries Ltd. (AFIL), an Amiantit Group company, which was the first manufacturer in the Middle East to develop and put into production double wall tanks made from reinforced fiberglass using an automated process.
The main features of GRP pipes and storage tanks are that they are strong and durable, yet lightweight and easy to install, corrosion-resistant, and virtually maintenance free throughout their long service life, all factors which make them the cost-effective first choice of project owners and contractors.
Amiantit is the largest manufacturer of GRP pipe and tanks in the world. It is also a leading manufacturer of GRE epoxy pipes, ductile iron pipes, concrete cylinder pipes, pre-stressed concrete cylinder pipes, reinforced concrete pipes, cement mortar lining for steel pipes, polymer concrete pipes and thermoplastic pipes.
The current wave of success is the result of Amiantit's program of globalization, which began in the year 2000, and the investment in strategically located manufacturing facilities is now paying dividends due the worldwide demand for Amiantit's environment-friendly pipe systems. Confirmed orders have reached 1.7 billion Saudi riyals which are expected to be delivered during 2007.
The Saudi Arabian Amiantit Company was established in 1968 at Dammam as a limited liability company and was converted into a joint stock company in 1994. It started with a paid-up share capital of SAR 4 million, which is currently standing at SAR 1.155 billion. Its shares are traded on the Saudi Stock Exchange. The prime activity of the company is to initiate and manage new industrial projects, and market its technologies and products. The company also monitors and controls the business of all the Amiantit Group subsidiaries through its corporate management office in Dammam, Saudi Arabia.
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