Apr 05 2012
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Largest armoured vehicle facility opens in Ras Al Khaimah
It will hire 1,600 workers in the second and third phases of expansion in UAE
Streit Group (SG) - one of the world's largest armoured vehicle manufacturers - has set up the world's largest privately-owned armoured vehicle facility in Ras Al Khaimah, UAE
The new facility is located at the Technology Park of Ras Al Khaimah Free Trade Zone ( RAK FTZ ), one of the fastest-growing and most cost-effective free trade zones in the UAE.
SG's expansion plan is divided into three consecutive phases, of which the main production facility, occupying 1.4million sq feet, has been completed at a cost over Dh80 million - making it one of the biggest investments of its kind at RAK FTZ . SG, which has been operating from RAK FTZ since 2005, started with a 1,615 square feet (150 square metre) warehouse facility at Technology Park, and today, has grown to develop the world's largest armoured vehicle facility.
Part of the Phase I of the development, the new facility boasts a state-of-the-art design and houses full range amenities for research and development, manufacturing, testing, training, and storage of the armoured vehicles in a single complex.
Phases II and III of the project, estimated at over Dh120 million cumulatively, will include a glass factory, pre-fabrication facilities, expansion of the employee accommodation facility, fuelling stations, helipad, and support manufacturing. These facilities are expected to be completed by 2014.
The new facility currently employs 400 people, and the staff strength is expected to increase to over 2,000 as the new facilities come online and the output expands.
The group is estimating sales of Dh150 million over the next five years. " Streit Group 's core values revolve around excellence, reliability and meeting the increasing market needs, and our facility in Ras Al Khaimah will serve as an added proof to the reputation and image that the group has built over the years. The facility puts us at the centre of the transport links, raw material sources and expertise that we need to successfully grow our operations locally and regionally," said Guerman Goutorov, CEO of Streit Group .
"We are delighted with the inauguration of our new facility, and the support that the leadership of Ras Al Khaimah has offered in our operations. The emirate offers a range of public services, such as: easy access to transport infrastructures like ports and airports, flourishing community, cost-effective housing facilities and access to other support services. With our new facility, Streit Group is looking to further penetrate the market for armoured vehicles in the UAE and the region by leveraging superior engineering and world-class design to create the products known for its safety and endurance," said Goutorov.
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