Mada Gypsum to set up new plant in Riyadh
Riyadh, September 3, 2008
Saudi Mada Gypsum Company, a subsidiary of Inshaa Holding Company, which is owned by Al Rajhi Investment Group, has unveiled plans to set up a new plant in Riyadh as part of its regional expansion strategy.
The company's board approved the expansion of the company’s plaster production capacity of 400,000 tonnes per year and plasterboards production capacity at 50 million sq m per year through the new plant.
With this expansion, the total production of Mada Gypsum Company by the second quarter of 2010 will be 800,000 tonnes for plaster and 84 million sq m per year for plasterboards, according to a top company official.
'This expansion move was vital in order to stay ahead of the regional and international competitors who are entering the market all the time,' said Eng Nahil T Al-Deri, president of Mada Gypsum.
'In such a competitive environment, we had a goal of meeting the demand in the Saudi Arabia and GCC markets, especially with the activity of the construction and real estate sectors. Eventually, our main goal is to expand and develop ourselves in order to take the leadership role in the market.' Al-Deri noted.
After a very successful start, and after receiving the excellent market feedback for its products and services, a key decision has been taken to work on the strategic expansion plan to be the gypsum production leader in the region, he said. -TradeArabia News Service