Construction Products Holding Company (CPC) of Saudi Arabia and Alumco of the UAE will set up a joint venture aluminum extrusion factory in Algeria.

The MoU was signed at a ceremony attended by senior executives at Alumco headquarters in Dubai Investments Park.

The MoU was signed by Eng Ayman Nowailati on behalf of CPC and Samer Barakat, managing director of Alumco.

The project envisages an investment of Dh100 million ($27.2 million), which will be shared equally by the two companies.

“The new factory will cover an area of 100,000 sq m and its initial production capacity is expected to reach 50,000 tonnes per year,” said Eng Nowailati adding that construction work is expected to start within six months from date of signing and completion will take nine months more.

'The time has come for us to look beyond, to conquer new frontiers,' Barakat said. 'We are moving in the right direction and at the right pace, seeking more growth.'

“We are immensely proud of this promising project,' Barakat said. 'It has its own challenges and our logistics team is prepared to complete the project in record time, utilizing our supply chain, deep resources and unmatched expertise.' – TradeArabia News Service