Kuwait group inks JV deal with China jeweller
Wuhan, China, March 6, 2014
Kuwait Support Services Company (KSS), a major multi-business group headed by Sheikh Ameer Al Sabah of Kuwait, has signed a joint venture agreement with China-based Kingold Jewelry, a leader in design and manufacture of gold jewellery.
The two companies will form a combined entity that is expected to source and finance gold, and to develop, market, and distribute gold products including gold coins, gold bullion, medals, ornaments and jewellery.
Kingold expects to market these products initially to customers in Kuwait, and then to customers in Bahrain, Oman, Qatar, Saudi Arabia, and the UAE.
Zhihong Jia, chairman and CEO of Kingold Jewelry, said: "We are so pleased to work with Sheikh Ameer and KSS to explore the fast growing Middle East gold market. This marks the first international business expansion for Kingold and we are looking forward to partnering with KSS to provide our quality gold products to a large population of potential consumers." – TradeArabia News Service