Tuesday 16 July 2019
 
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Al Kathiri wins funding for new Saudi-Italian JV plant

RIYADH, 25 days ago

Al Kathiri Holding Company said one of its subsidiary companies, Alian Industry Company, has won initial approval from Saudi Industrial Development Fund (SIDF) to finance the construction of the factory that will manufacture an advanced building system with the help of Italian technology in Sudair city.

This is in line with the Ministry of Housing (Motivating Building Technology) and the National Industrial Development and Logistics Programme, which aims to provide the best housing solutions for home ownership and reduce the cost of construction, in addition to the speed of implementation with high quality, in order to create suitable jobs for citizens in the construction sector.

As a first step, Alian Industrial Company has received the initial approval (letter of commitment) from SIDF to finance the establishment of the factory which will produce the system using polystyrene sheets reinforced with iron and concrete 

Al Kathiri had earlier this year announced that Alian Industry had signed a non-binding agreement with leading Italian company Emmedue (M2) for the transfer of the modern construction technology.

The company, which is based in Fano (Pesaro-Urbino), Italy, has developed and commercialised the Emmedue advanced building system globally over the last 35 years.

It is a world-class building technology, saving cost and time spent in construction, offering flexibility in applying modern architectural designs, and achieving the highest standards of acoustic and thermal insulation, said the statement from Al Kathiri.

As per the MoU, the Italian group will help transfer the technology for the production of three-dimensional concrete panels to Al Kathiri Holding Company, it added.-TradeArabia News Service




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