Expected DHS 400 Million Turn-over in First Year
United Arab Emirates, July 22 2008 - Gulf General Investment Company PSC (GGICO), a Dubai based Investment Company, has opened a new company in Sharjah, Horizon Energy Co. L.L.C, for the trading of Bitumen and Manufacturing and sale of other value added Bitumen products.
The project will incorporate a 10,550 square meter plant in Khalid Port and have an installed storage capacity of 16,000 tonne.
Added value products to be manufactured include Cut Back, Oxidised Bitumen, Primer and Membrane, which can be used for road surfacing and roofing felt.
The first raw materials have already been imported from Bahrain via pipeline.
GGICO Deputy Managing Director Mohamed Ali Al Sari said the company is expecting an annual turn over of 400 million dirhams during its first year.
"We are proud to have this company in our portfolio and are looking to expand our service outside the UAE," he says. "Horizon Energy utilizes the latest in cutting edge technology with a focus on quality which ensures demand for our product."
GGICO is a highly diversified group with business activities in Manufacturing, Industrial, Finance and Brokerage, Rental Real Estate, Freehold Real Estate, Trading, Insurance, Retail, Service, Transport & Hospitality.
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For further information please contact:
Khalil Majdalawi
Cicero & Bernay Public Relations
Tel: +971 4 334 2966
Fax: +971 4 334 2977
Email: khalil@cbpr.ae
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© Press Release 2008
