The Saudi Al Zamil Air Conditioners Co. (ZAC), located at Dammam Industrial Estate, is contemplating the construction of a new project in Iran. Speaking to al Sharq al Awsat daily, Abdallah Muhammad al Zamil, the managing director deputy, revealed that the company is considering two locations for its new factory - Iran and Egypt. At this stage, ZAC is leaning towards selecting Iran since it is considered a bigger air condition systems consumer, selling approximately 150,000 units each year.
Al Zamil Air Conditioners Co. is one of the oldest industrial companies in Saudi Arabia. It is the first family-owned business to succeed at becoming a Gulf wide joint stock company, earning SR 1.2 billion in revenues in 1998. ZAC manufactures a full range of air conditioning systems and exports its products to 30 countries in Europe, America, Africa and the Far East.
Mr. al Zamil did not provide any estimation regarding the investment required for the Iranian project, but disclosed that by the end of May this year, ZAC exported 30,000 air condition units to Iran. He continued to reveal that ZAC is also a competitor in the Iraqi market. The company expects that the UN will approve the deals it signed with Iraqi clients within the next stage of the Oil for Food deal. Al Zamil described the Iraqi market as "one of the most important for Saudi companies". He added that " We have exported 8,000 air conditioners units since we renewed our activity in the (Iraqi) market this year within the (UN) Oil for Food Agreement".