Arkan plans venture with Korean firm
Dubai, December 16, 2007
United Arab Emirates-based Arkan Building Materials Co said it would invest in a Dh100 million ($27.23 million) piling venture with Kyung In Co of South Korea.
Arkan will invest 65 percent of the company's capital and Kyung the rest, Arkan said in a statement on the Abu Dhabi bourse Web site.
The new company will be incorporated in the first quarter, it said. -Reuters