Monday, 14 August 2006

JEDDAH: Saudi Group Al-Rajhi Investment Group recently signed an agreement with the government of Umm Al-Quwain to form a company - Imdad.

With investments across the UAE continuing to proceed unabated, the Emirate of Umm Al-Quwain continues to look forward to a promising future, with new projects being developed to consolidate and support the emirate's strategic plans. As part of its mission to develop itself across various fields and to provide a modern and advanced infrastructure for all its citizens and residents, Umm Al-Quwain is always looking forward in providing and facilitating the best conditions to attract the investors and for executing the pioneering projects in various fields.

Within this context, It has been announced in a signing ceremony that was held between the Government of Um Al-Quwain represented by - Sheikh Abdullah Bin Rashid Al-Mualla, Deputy Ruler of Umm Al-Quwain, and Al-Rajhi Investment Group, represented by Dr. Eng. Ahmed Al-Rajhi,; the establishment of their new company "Imdad", in the presence of numerous directors and businessmen from across the country.

"Imdad" is equally owned by the government of Umm Al Quwain and the Saudi based company, Al-Rajhi Investment Group.

The firm is specialized in producing, delivering and distributing water throughout Umm Al-Quwain and other emirates followed by exporting the desalinated water to other countries and have an investment of around Dh2 billion. The project is anticipated to begin its first production within 18 months.

This partnership based on firm management and common cooperation between the Umm Al-Quwain government and Al-Rajhi Investment Group resulted from the government's policy to attract international investments, especially from the Gulf. With the project supported by law with the appropriate legislation, this guiding principle of development has facilitated the creation of projects with investments that has reached Dh40 billion, including AlSalam City, Umm Al-Quwain Marina, Khor Al-Baidaa project and Rashed city, for the emirate.

Imdad's main mission is to desalinate the sea water through using the latest technologies, and deliver clean water inline with national specifications for the consumer. This policy will prevent the consuming of brackish water, and the renewing of already available sources of water with the assistance of experienced international companies, who will be chosen in this regard.

Imdad will also study electricity production intended to support the development of various projects across Umm Al-Quwain specifically, and the UAE. generally.

Al-Mualla said, "We are devoted to encourage and strengthen investor relations. We are also devoted to provide the healthy structure needed for investments in our emirate with regards to both legislation and organizational laws".

"We shall always insist on the importance of utilizing the highest international standards in the domain of desalting sea water and insuring its delivery to the consumer with the best international specifications, and scientific means for development", said Dr. Ala Al-Khzaie, project manager.

© The Saudi Gazette 2006