Ajman, Monday, 15 February 2016
In a bid to keep contributing to the growing economy of the UAE, Piling Tech has confirmed the purchase of a new set of Soilmec SR-60 Evolution piling rigs. This is part of the US$ 100 million investment plan set out by the Group for the next 3 years. Piling Tech is a part of the Ajman-based construction group of companies Tech Group, and specializes in foundation engineering, design and execution of latest techniques in boring and driven piling systems.
The Group CEO of Tech Group, Mr. Shiraz Hasan said, "We have recently added a new set of Soilmec SR-60 piling rigs to the growing fleet of our construction equipment. In order to upgrade the facility area, machinery and transportation fleet, a sum of AED 370 million will be injected into the equity over the next 3 years. With this investment, we are forecasting a significant increase in our production capacity."
Commenting on the economic outlook, Mr. Hasan said, "The medium to long-term economic outlook for the construction industry seems quite positive. 2015 was a very good year for us as we recorded 30%+ YoY growth. There is a host of opportunities available for the construction sector in the region as new projects are being announced throughout UAE. We have created a high demand of our products and services in the region by continuously striving to be the best in the business. Committed to our growth strategy, we opened our third concrete block manufacturing plant last year that has increased the production capacity by almost 1 million units per month. AED 35 million has already been invested on expanding the current fleet for the Group and now these 2 new piling rigs are added to the already growing fleet."
Tech Group, headquartered in Ajman, is a construction group of companies with operations spread across the UAE. There are ten business units operating under Tech Group, each with its owned asset base and individual expertise to provide complete one-stop construction solutions including aluminium and glass; ready mix and concrete blocks; petroleum trading; electrical, mechanical and plumbing services; construction and piling works; steel cut and bend, and fabrication services; sweet water supply, and wood joinery works. Each of the business unit is ISO certified, which is a testament to the unwavering commitment to apply quality management systems across the Group.
For further information, please contact:
Head of Marketing & Public Relations
Tech Group PJSC
PO Box 6800, Ajman, UAE
Mobile: +971 6 747 0903
© Press Release 2016