United Arab Emirates (UAE)-based Al-Wasit Machinery, the flagship of Al-Wasit Group of Companies, has signed a partnership with Hyundai Heavy Industries to have exclusive dealership of Hyundai construction equipment for UAE and Oman.
Hyundai, one of the world's largest manufacturers of heavy machinery and construction equipment, has entered into this partnership with the objective of getting a sizable market share in the booming construction industry in UAE and Oman. The construction industry in the UAE is currently growing at a rate of 14 percent with investments worth more than $25 billion coming in during 2001-03.
Al-Wasit Group represents several leading manufacturers of equipment and machinery such as NPK-Japan, MSB-Korea, SIM-Italy, Ammann-Switzerland, Faresin Italy and other internationally reputed companies. The group has branches all over the UAE and is well established in the markets of the Middle East, North and East Africa, CIS countries, and the Indian Subcontinent. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
