Jeddah-based Mattex International Group is investing Dh400 million in two projects at Techno Park, said a press release issued yesterday.
The new projects will bring Mattex's famous base fabrics used in the production of carpets and artificial turf for leisure and sports facilities.
Ahmed Al Rajhi of Mattex signed a deal with Abdullah Al Qurashi, Techno Park's chief executive, to lease 1,000,000 square feet of land. In the two-phase development of the plants, the company is investing Dh250 million in the first.
Two well-known Saudi families, Al Rajhi and Al Sorayai, own majority stakes in Mattex.
Mattex Fabrics are market leaders in production and supply of base fabrics for the production of indoor and outdoor carpets, and supply a customer base in all continents.
Since its establishment in 1995, it has been growing substantially each year, based on its innovative products.
Marc Verleyen, Mattex Fabrics' managing director, said that the plan for 2005-06 is to produce and market more than 250 million square metres of carpet backing materials.
Mattex Leisure Industries last year introduced artificial grass to the world football market with great success. The artificial grass has qualities that in many aspects are superior to natural grass.
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