Saudi Readymix plans $117m expansion
Riyadh, January 23, 2008
Saudi Readymix Concrete Company plans to make a 40 per cent increase in capital investments for 2008 over 2007, with a total value set to reach a record SR440 million ($117.4 million).
The investment is aimed at further cementing Saudi Readymix as the leader in providing the fastest and most effective concreting solutions in the Kingdom, said an official spokesman.
A large part of the investment is earmarked towards opening at least seven new stations in some strategic locations within the Kingdom, bringing the total number of stations by year's end to 34.
The new stations will include 13 new concrete batching plants, raising the total number of plants operated by the company to 70.
In addition, the company will fortify its fleet with an additional 100 state-of-the-art mixer trucks and 36 mobile concrete pumps, bringing the total fleet numbers to 500 mixer trucks and 170 pumps.
With the network and fleet expansions, Saudi Readymix has set a target of 5.2 million cubic meters of concrete, up from the four million cubic meter target, achieved 2007, representing a 30 per cent increase.
'Our main goal is to build on the tremendous success we accomplished last year by continuing to provide the fastest and most effective concreting solutions in the industry. The new station locations, further integration of our supply chain, and substantial increase in our fleet are designed to help us sustain our leadership position within the industry,' said president of Saudi Readymix Rami Khalid Alturki.
Furthermore, Saudi Readymix plans to operate two new quarries and expand its existing ones, bringing the total number of Saudi Readymix quarries to five and tripling the company's aggregate production capacity.
The company also plans to add more than 800 new jobs to its existing workforce, bringing the total number to 2,800 people.
'We have set ambitious goals for ourselves in 2008, all of which represent the next steps in our five-year expansion plan, coinciding as well with the rapidly developing construction market in Saudi Arabia, through which we will strive to provide the best possible services to our customers and the industry as a whole,' added Alturki. - TradeArabia News Service