Saudi-Japanese venture breaks monopoly on traditional men’s wear
The Saudi-Japanese Fabrics Manufacturing Company, Kemash, a subsidiary of the Al-Ihsa Development Company, has started to produce traditional fabrics, breaking a decades long monopoly on the manufacture of the national dress by Chinese, Japanese and European firms, according to Al-Hayat.
The new textile manufacturing plant, which is reported to be the company's biggest industrial project, was established with a 160 million Saudi riyal ($42.7 million) investment, as a joint venture with a Japanese investment consortium.
A Japanese delegation supervised the construction of the factory and the installation of the machinery. The factory is designed to produce 12 million yards of fabric annually which will be used for making the traditional Saudi men’s gowns, thobe.
The enterprise is 76.5 percent owned by the Al-Ihsa Development Company. Maruneni Company holds 19 percent, while the remaining shares are divided between the Japanese Arabian Industrial Development Company, JIDCO, and Sirin Company.
The Saudi men’s wear market is valued at SR2.1 million ($560 million), according to Al-Watan. — (Mena Report)
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