Shaheen Business and Investment Group Luxemburg (SBIG) and Polywell Computers USA have signed an agreement to establish computer assembly plant with an initial investment of $10 million at one of the Qualifying Industrial Zones in Jordan.
The joint venture will assemble a complete range of computer products and services to be marketed for sale in Jordan, Middle East, Africa, and Europe Regions. The project aims to establish a permanent computer assembly facility in the Middle East in order to manufacture and distribute products throughout the region.
All sales of products to be distributed through the proposed base will be counted as Jordanian sales. In addition, Polywell Computers will set up joint sales and marketing partnership between the Jordan plant and Polywell's US operation to arrange the sale of its Jordan-made computer products in other global markets including US and Asian markets. The Jordan operation will be independent from the US operation in terms of ownership and holding.
The new joint venture between SBIG and Polywell estimates that it should produce no less than 25,000 units per year at the Jordan plant, although the design capacity of the plant will be at 120,000 units per year. These units will be available for sales locally and in other Middle Eastern, African, European, or American markets.
The Jordan computer plant will receive all the investment incentives, tax breaks, and support that the Qualifying Industrial Zones provide to foreign and local export project investments under the US-Jordan Free Trade Agreement.
Amman-based SBIG is a holding company for a number of well established businesses in the Middle East operating through its different companies in key sectors such as manufacturing in fields ranging from automotive to food processing and packaging, real estate development, trading, services, telecommunications, retailing, and agriculture.
Polywell Computers specializes in manufacturing custom configurations for high-end computers. Polywell markets a wide range of products primarily through editorial reviews, direct mail and referrals from customers. The product line ranges from Desktop PCs to RISC based Workstations as well as Cluster Servers AND SAN/NAS Storage products. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
