AMIANTIT CONTRACTS EXCEED US$ 211 MILLION IN THE 1ST HALF OF 2005 IN GCC AND YEMEN

Dammam, August 2005 – The Amiantit Group has secured contracts in the GCC totalling US$ 211 million for the 1st half of 2005 to supply various types of pipes for industrial and infrastructure projects in Saudi Arabia, UAE, Qatar, Kuwait, Oman, and also in Yemen.

“The boost in the demand over our products that are developed at our own R&D centres and backed by international quality certificates indicates the awareness of our customers.” said Fareed Yousef Al-Khalawi, Amiantit’s Group CEO and Managing Director. This announcement was issued after the approval of Amiantit General Assembly meeting to increase the capital from US$ 205 million to US$ 308 million. “In fact, the Amiantit Group today is a global giant with 34 pipe manufacturing facilities in 16 countries worldwide and ranks as the world’s biggest manufacturer of GRP pipes, one of the leading suppliers of other types of pipes, and the industry’s leader in research, development and ownership of advanced pipe manufacturing technologies.”

Ductile iron pipes orders were particularly on the rise and included replacement of asbestos cement pipes in the UAE – a substance which is internationally banned -. SADIP, located in Dammam in the east of Saudi Arabia, is the largest ductile iron pipe factory in the Middle East and it is a member of the Amiantit Group.

Back to top