DAMMAM: In line with growing worldwide demand for Amiantit glass reinforced polyester (GRP) pipes for water and sewage systems, Dammam-based Saudi Arabian Amiantit Company has announced that it is participating on an equal share basis in two joint venture partnerships to establish GRP pipe production plants in Morocco and Algeria.
The Moroccan manufacturing facility will be built in Casablanca at a cost of SR86,250,000 ($23 million) as a joint venture under the name of Amitech Maroc, a limited liability company in 50% - 50 percent partnership between Amiantit International Holding and Nareva Holding which is a 100 percent subsidiary of the ONA Moroccan Group.
The new factory s first order is for 90 km of GRP (glass reinforced polyester) large diameter pipes to transfer 45 million cubic meters of water per year from the Mohamed Mokhtar Soussi and Aloulouz dams to irrigate the Guerdane area near to Agadir, and 76 km of GRP pipes for a distribution network covering an area of 10,000 hectares.
The order is for a BOT (build, operate and transfer) project with a total contract value of SR294,450,000 ($77, 245,772) awarded to Amensous SA, in which Inframan, a 100 percent subsidiary of Amiantit, has 15 percent participation in the capital. Over the next five years Amiantit will be involved in further water and sewerage projects in Morocco.
Populations are increasing everywhere, resulting in ongoing expansion of public service infrastructures, and these two new manufacturing facilities are yet another step forward in our policy of strategic global expansion by meeting worldwide demand for Amiantit products through fulfilling local orders with local manufacture, said Fareed Al-Khalawi, Amiantit President & CEO. At the same time, there is an increasing demand for pipe systems needed by the booming gas, oil and petrochemical industries and Amiantit is producing pipes in materials that have been specifically developed for the requirements of this sector.
In addition to being a global leader in pipe manufacturing, Amiantit undertakes BOT projects through AmiWater, a Jeddah-based holding company for a number of subsidiaries that are among the leading international specialists in water infrastructure projects for both the public and private sectors.
This division of Amiantit has the expertise, technology and engineering skills to provide complete systems solutions on a global scale and is currently operating projects in Eastern Europe, Russia, Turkey, Greece, Africa, India, Indonesia and Thailand.
Amiantit 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 SR4 million, which is currently standing at SAR 1.155 billion. Its shares are traded on the Saudi Stock Exchange
© The Saudi Gazette 2006
