Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Gammon leads Jazan's industrial progress  Join our daily free Newsletter

MENAFN - Arab News - 19/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Some more international companies including shenhua group kalliyath steel trina solar and china communications construction company have agreed to join hands with gammon group to develop new industrial city in jazan with a capital investment of sr75 billion creating about 100000 jobs.

prince turki bin mohammed bin nasser director of international trade at the ministry of commerce and industry and the main partner of gammon has signed an agreement with noor mohammed noorisha managing director of kalliyath group to set up a 200 million steel plant in the city.

prince turki the main architect of the new city has expressed his happiness over the project’s progress. “it augurs well with custodian of the two holy mosques king abdullah’s vision to boost the kingdom’s regional development.” he said the participation of indian companies in the city would strengthen the historic saudi-indian ties.

“the new industrial city will spur the economic growth of jazan and bring about a face-lift for the region” said shaikh mohammed rafik chairman of gammon group who is spearheading the campaign to develop a state-of-the-art city with various industries including pharmaceuticals and petrochemicals.

“we are now in the process of signing agreements with prominent companies from all over the world including canada china india and malaysia” rafik told arab news. he added that kalliyath is a major group in india with a capital of rs.50 billion indian.

the agreement with prince turki who is a prominent businessman will enable kalliyath to expand its wings in saudi arabia to sell and export mild steel billets construction steel bars and structural steel products. the new steel plant will have a capacity to produce 1.5 million tons annually.

saheed palkkandy kottoth a director of gammon said he was trying to bring a johannesburg-based helicopter manufacturing company to jazan. he is holding negotiations with shenhua group a major mining and energy company in china to establish an electricity power plant in the city.

riyas mohammed another director is endeavoring to bring chinese firms specialized in manufacturing household utensils. he is also working to establish a food-processing factory and a tire-manufacturing factory in the city with the support of major international companies.

“the new projects and factories will bring a capital investment of more than sr10 billion” rafik said. “we’ll take over the land next month to build infrastructure facilities required for the city.

he added that prince turki has been authorized by the government to develop the city by bringing foreign investors to build the city’s entire infrastructure facilities such as roads bridges commercial centers power plants water treatment plants oil refinery and petrochemical plants.

“the main attraction of this project is that if major companies are ready to invest and transfer their technology the government will pay them 75 percent of their project cost in soft loans for 20 years” rafik told arab news.

gammon is endeavoring to establish automobile industries it parks food processing industries factories for building materials hospitals and hotels in jazan to make it one of the best commercial cities in saudi arabia.


 






  MENA News Headlines
 Aug 30 2014 - Watania regulators approve selling 60.53 percent stakeMENAFN
(MENAFN) Takaful Co (Watania) said that UAE regulators had approved the sale of 60.53 percent of the firm to MB UAE Investments and an affiliate of MB, The Peninsula Qatar reported.Watania said MB ...

 Aug 30 2014 - Qatar Airways orders 80 Airbus A350 XWB jetsMENAFN
(MENAFN) Qatar Airways has ordered 80 Airbus A350 xtra widebody aircraft, which are set to be delivered before the end of this year, Khaleej Times reported.The A350 MSN005 development aircraft ...

 Aug 30 2014 - Flydubai's network covers 80 destinationsMENAFN
(MENAFN) Flydubai announced the addition of three new East African routes, bringing the total number of destinations in the carrier"s network to 80, Khaleej Times reported.With the launch of flights ...

 Aug 30 2014 - Four int'l firms bid Saudi Aramco's projectMENAFN
(MENAFN) Four companies have expressed interest in bidding for work on Aramco"s gas project in Saudi Arabia as the Kingdom encourages plans to develop challenging shale deposits, Arab News ...

 Aug 30 2014 - Ronn LucasVentriloquism Fun Facts Weekly SpecialMENAFN Press
(MENAFN Press) Celebrity Dummies serves as the largest seller of ventriloquist dummies in the area of Tampa FL nowadays. The company is well known in the different parts of the country at the ...

 Aug 30 2014 - Noted Wellness ExpertDr. Antwala Robinson DNP FNP-BC APRNAnnounces Publication of Her Latest BookYou Rule! Take Charge of Your Health and LifeCoincides With "Childhood Obesity Month"MENAFN Press
(MENAFN Press) "You Rule!…" is a healthy lifestyle guide for teens and goes into depth concerning Child and Teen Obesity Issues. Presents a plan for optimum wellness and solutions for ...

 Aug 30 2014 - Skin Wellness Center Adds NeoLTS Light Therapy For Younger Looking Skin and HairMENAFN Press
(MENAFN Press) The Skin Wellness Center at Atlantic Plastic Surgery has recently acquired NeoLTS the newest and most sophisticated LED light therapy system.Online PR News – 28-August-2014 ...

 Aug 30 2014 - TShirt.in Brings In an Exclusive Collection of Corporate Polo T Shirts and Other T Shirts OnlineMENAFN Press
(MENAFN Press) We have recently introduced an exclusive range of Polo T Shirts that are suitable for casual outing as well as corporate presentation.Online PR News – 28-August-2014 – ...

 Aug 30 2014 - Punyam Management is Announcing to offer FSSC 22000 Certification Consultancy for Food Safety SystemMENAFN Press
(MENAFN Press) Punyam has experience and expertise team to effectively implements food safety system is now offering FSSC 22000 certification consultancy for FSMS.Online PR News – ...

 Aug 30 2014 - Help for Houses Australia Unveils New-Improved And Simplified Quick House SalesMENAFN Press
(MENAFN Press) Help for Houses Australia is a quick house sale provider offering help for those who want to buy or sell house quickly.Online PR News – 28-August-2014 – Help for Houses ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help