(MENAFN- The Peninsula) Oryx Industries, a major producer of construction materials based in Fujairah, has signed a new takeoff agreement with Qatar-based Al Hodaifi Rocks for the import, transport, storage and delivery of building materials at a signing ceremony held in Doha.
Under the terms of the agreement, Oryx Industries will supply Al Hodaifi Rocks with 2.6 million tonnes of quarry products over the course of one year commencing at the signature date. Building materials will be delivered to Qatar through the Port of Fujairah.
As the second largest importer globally for gabbro products in 2013, Qatar currently accounts for almost 90 percent of the UAE's gabbro exports. Furthermore, the government has recently removed the importing limits of 150,000 tonnes per company allowing Qatari businesses to import even greater levels of construction materials.
Al Hodaifi Rocks, a renowned name in the Qatari market for its product quality, service, reliability and efficiency, with a rising capacity of materials-handling operations has been a key building material trader supplying the building materials needed by Qatar's construction industry since 2006.
Central to the future construction sector boom in Qatar is the upcoming World Cup 2022 € which will see Qatar spending billions of dollars on building projects ahead of the tournament.
Majdi Khalaf, Vice Chairman and Group CEO of Oryx Industries, expressed his continued confidence in the strong recovery of the construction sector in the GCC markets. "The recovery is increasing demand for building materials and opening opportunities for Oryx Industries to establish lasting business relationships € as can be seen in this agreement. Our mission has always been to become the regional leader in building materials production, trading and bulk transport logistic services. We expect to play an important role in laying the foundations for many of the large-scale real estate and infrastructure projects anticipated throughout the GCC in the coming years." he said.
Saoud Ghandour, Managing Director of Al Hodaifi Rocks, said: "With the current strong pipeline of construction projects in Qatar, Al Hodaifi Rocks is seeking strong partnerships to secure its escalating needs for building materials. Ghandour emphasised that Oryx Industries is today among the leading names supplying these products in the region".
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.