Indian vessel maintenance conglomerate targets Mideast expansion
Veesem Raytech Aerospace (VRA), an Indian aviation and marine maintenance conglomerate that specializes in rust-busting technology, has announced it plans to expand its activity to the Middle East’s corrosion market.
Operating in the sub-continent market for over 10 years, VRA believes the region’s rapidly developing infrastructure has potential for new lucrative anti-corrosion business. “To date we have had little penetration in the Middle East market. We now believe the time is right to expand our operations and explore regional opportunities,” said C V Prakash, VRA managing director.
“The Middle East suffers from corrosion in a major way due to the region’s harsh climate. Every year millions of dollars are lost as a result. More development means more corrosion and more demand for anti-corrosion products. “If there is a big enough market for our products we will investigate the possibility of establishing a production base in the region,” said Prakash.
The Chemtex & Corrosion Middle East 2002 is a regional forum dedicated to showcasing new anti-corrosion technology and methods, to be held at the Dubai International Exhibition Centre, from March 12-14.
Veesem Raytech Aerospace is one of four Indian companies so far registered for Chemtex & Corrosion Middle East 2002, that will also feature exhibitors from 18 countries from the United States, Europe, Middle and Far East and Australasia. The show, organized by International Expo-Consults (IEC), includes dedicated arenas for specialty chemicals and polymer raw materials.
“Demand for anti-corrosion technology is being fuelled by rapid growth in the Middle East’s $33 billion petrochemical and chemicals industry. Chemtex & Corrosion Middle East 2002 will showcase the latest and best protective products for both the upstream and downstream sectors,” said Mohammed Falaknaz, IEC vice chairman. — (menareport.com)
© 2002 Mena Report (www.menareport.com)