29 February 2016
Doha - Qatar imported a total of 25.5 million tonnes of crushed stones in 2014, to a total value of $386m (about QR1.41bn).
In a statement yesterday issued by State Holding, a Qatar-based company that focuses on investment efforts on the industrial and real estate sectors in the Mena region and Europe, said that after the Qatari government lifted the 150,000 tonne limit on importing construction material, Fujairah (the UAE) has become the number one exporter of gabbro to the local market.
Co-partners and main sponsors, Fujairah - based Oryx Industries, Bahrain's First Equity Partners and Qatar's State Holding, participated at the 4th International Forum for Industrial Rocks and Mining Expo (IFIRME), held at the Fujairah Exhibition Centre from February 23 to 25.
IFIRME's fourth edition was held under the title "Innovation for Economic Development and Sustainability in the Mining Sector".
Organised by the Fujairah Natural Resources Corporation, in cooperation with the UAE's Ministry of Energy and the Arab Industrial Development and Mining Organisation, IFIRME has proven to be a highly effective platform for professionals to meet and discuss industry issues. These can range from investment opportunities and expansion into new markets to how the region's burgeoning real estate sector is driving a need for high quality rock products.
Industrial materials and rocks are used as a base material in a variety of industries across the world and are essential to the success of many others. Industrial rocks are often used for their physical or chemical properties for various manufacturing or commercial usages.
For IFIRME 2016, Oryx Industries, the leading construction material producer in the GCC region, joined its stakeholders First Equity Partners (FEP) and Qatar's State Holding on a shared stand where they showcased a full range of their products and services. IFIRME 2016 attracted hundreds of regional and international delegates and visitors and speaking of their joint participation at the expo, the three partners expressed their satisfaction on the outcome of this event.
State Holding's Deputy CEO, Bader Al Kashti, said: "As the country prepares to host the FIFA World Cup 2022, Qatar is intensifying work across many areas of its infrastructure. To this end, the country's imports of crushed stones surged by 19 per cent in 2014, over the previous year. This makes the country the second largest importer of stones in the world, after Russia."
"Fujairah-based Oryx Industries is a major investment of State Holding, and recognises the significance of the Qatari market's growing need for industrial rock and gabbro products," Al Kashti added.
Nasser Barakat, CEO of Oryx Industries, said: "IFIRME 2016 is a great platform for Oryx Industries to exhibit and share our products and services with potential industry partners and customers, including our transportation and logistics services. The strategic partnership that was formed last year with FEP and State Holding has allowed us to look at expanding on our dominance in the region's industry sector."
Hasan Al Mansoor, FEP's Director of Investments, added: "As a private equity player, FEP along with a consortium of investors, acquired a stake in Oryx Industries in 2015 and we have been extremely happy with the company's continuing success as an industry leader. We are also excited with the fact that Oryx Industries has expanded its geographical presence in the GCC which includes the top three main markets for quarry products: Qatar, Kuwait, and Bahrain."
Doha - Qatar imported a total of 25.5 million tonnes of crushed stones in 2014, to a total value of $386m (about QR1.41bn).
In a statement yesterday issued by State Holding, a Qatar-based company that focuses on investment efforts on the industrial and real estate sectors in the Mena region and Europe, said that after the Qatari government lifted the 150,000 tonne limit on importing construction material, Fujairah (the UAE) has become the number one exporter of gabbro to the local market.
Co-partners and main sponsors, Fujairah - based Oryx Industries, Bahrain's First Equity Partners and Qatar's State Holding, participated at the 4th International Forum for Industrial Rocks and Mining Expo (IFIRME), held at the Fujairah Exhibition Centre from February 23 to 25.
IFIRME's fourth edition was held under the title "Innovation for Economic Development and Sustainability in the Mining Sector".
Organised by the Fujairah Natural Resources Corporation, in cooperation with the UAE's Ministry of Energy and the Arab Industrial Development and Mining Organisation, IFIRME has proven to be a highly effective platform for professionals to meet and discuss industry issues. These can range from investment opportunities and expansion into new markets to how the region's burgeoning real estate sector is driving a need for high quality rock products.
Industrial materials and rocks are used as a base material in a variety of industries across the world and are essential to the success of many others. Industrial rocks are often used for their physical or chemical properties for various manufacturing or commercial usages.
For IFIRME 2016, Oryx Industries, the leading construction material producer in the GCC region, joined its stakeholders First Equity Partners (FEP) and Qatar's State Holding on a shared stand where they showcased a full range of their products and services. IFIRME 2016 attracted hundreds of regional and international delegates and visitors and speaking of their joint participation at the expo, the three partners expressed their satisfaction on the outcome of this event.
State Holding's Deputy CEO, Bader Al Kashti, said: "As the country prepares to host the FIFA World Cup 2022, Qatar is intensifying work across many areas of its infrastructure. To this end, the country's imports of crushed stones surged by 19 per cent in 2014, over the previous year. This makes the country the second largest importer of stones in the world, after Russia."
"Fujairah-based Oryx Industries is a major investment of State Holding, and recognises the significance of the Qatari market's growing need for industrial rock and gabbro products," Al Kashti added.
Nasser Barakat, CEO of Oryx Industries, said: "IFIRME 2016 is a great platform for Oryx Industries to exhibit and share our products and services with potential industry partners and customers, including our transportation and logistics services. The strategic partnership that was formed last year with FEP and State Holding has allowed us to look at expanding on our dominance in the region's industry sector."
Hasan Al Mansoor, FEP's Director of Investments, added: "As a private equity player, FEP along with a consortium of investors, acquired a stake in Oryx Industries in 2015 and we have been extremely happy with the company's continuing success as an industry leader. We are also excited with the fact that Oryx Industries has expanded its geographical presence in the GCC which includes the top three main markets for quarry products: Qatar, Kuwait, and Bahrain."
© The Peninsula 2016
