New Memorandum Signed By UAE Based ARKAN With Saudi CPC, Aimed At Building Up 6 Factories, One Logistic Support Cargo Company In Abu Dhabi, For A Tot
ARKAN BUILDING MATERIALS (ARKAN) PJSC, an Abu Dhabi based Public Joint Stock Corporation, and the Saudi CONSTRUCTION PRODUCTION COMPANY (CPC), a privately held Saudi Arabian corporation, based in Saudi Arabia, have just declared signing a new deal to establish up to 6 limited liability factories for producing building materials, plus one logistic support cargo company in Abu Dhabi.
The signing of the deal memorandum took place at ARKAN headquarters in Abu Dhabi on Monday 3\1\1428 Hijree, 22\1\2007 AD, in an official ceremony attended by senior executives of the two companies.
On his comment on the deal, H.E. Salem bin Mohammed Al Zahiri, ARKAN CEO, said:” This new agreement will introduce a new technology in the construction industry in the UAE. The CPC enjoys a long experience and outstanding reputation in the construction materials field. And the new industrial complex will provide great supply service to all construction projects regardless of their scale, which will help speed up the pace in these projects and reduce their costs. As our thorough study of the market indicates, I trust that this new partnership will open new possibilities in the construction market in the UAE. We will at ARKAN supervise the work on all engineering and architect designs, and follow up with the execution of the project at all its different stages”.
In his turn, H.E. Hasan Bin Laden, the executive president of CPC commented by saying:” The CPC has decided to export its new concepts outside Saudi Arabia, and to establish its first Gulf extension in Abu Dhabi, based on the boom of construction we witness in the UAE generally and in Abu Dhabi in particular. As we consider ARKAN a strategic partner, we are working on transferring the patent of the technology to it, so ARKAN could in turn use the new concept in manufacturing, and sell the products and services based on it, supervised by a specialized team of CPC technicians, and supported by the confidence of our CPC management. We chose ARKAN for the long history and experience in their industrial arm, and its ambitious vision to its regional role that it has already started to implement”.
The GENERAL HOLDING COMPANY owns % 51 of the total capital of ARKAN BUILDING MATERIAL (ARKAN) PJSC, while the rest of its shares is owned by UAE citizens from the private sector. ARKAN has been listed in Abu Dhabi Securities Market since the 8th of January 2007, and it owns % 100 of Emirates Cement factory in Al Ain and Concrete Blocks factory in Al Mafraq- Al Ain. ARKAN is working today on establishing a new cement factory “Al Ain Cemnet Factory” that is to be owned totally by company. The new factory projected annual output capacity is 3.1 billion tons of Clinker, and is being built in collaboration with NATIONAL CINOMA FOR CONSTRUCTION MATERIALS at a cost of AED 3.1 billion.
As for CONSTRUCTION PRODUCTION COMPANY (CPC), a renounced holding Saudi company, it is specialized in the development of facilities of the technology and production of construction materials. It also operates in designing and manufacturing of marble, tiles, ceramics, gluing construction products, concrete blocks, iron and aluminum bars and construction tires, in addition to different decoration woodwork products.