The Executive Director of the Saudi Arabian Emiantit Group, Farid Khallawy, stated that his company purchased 51 percent of the stakes in the Oman-based Pipes Manufacturing Limited Company (CPI). Emiantit payed 20 million Saudi Riyals ($5.4 million) for the stakes, reported Al-Hayat . The Omani company manufactures reinforced pipes made of fiberglass, which are sold to states in the Arabian Gulf and are used for building pipelines to carry oil, petrochemicals and other fluid materials. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
