al tazi hikes investment in kaec industrial valley
Last Updated : GMT 07:25:12
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 07:25:12
Arab Today, arab today

Al Tazi hikes investment in KAEC Industrial Valley

Arab Today, arab today

Arab Today, arab today Al Tazi hikes investment in KAEC Industrial Valley

Al Tazi signed the agreement with the objective of raising its production capacity to meet the growing demand for its rockwool products, known in the MENA region as mineral wool.
Riyadh - Arab Today

King Abdullah Economic City (KAEC) has signed a contract with Ahmad Al Tazi Rockwool Factory to lease an additional 9,000 square meters in the Industrial Valley. Al Tazi signed the agreement with the objective of raising its production capacity to meet the growing demand for its rockwool products, known in the MENA region as mineral wool.
“This contract will add to the diversity that characterizes the Industrial Valley, and will also allow for new outlets and easier methods for the distribution of the Al Tazi’s products to various parts of the Kingdom,” said Mr. Fahd Al-Rasheed, Group CEO and Managing Director of KAEC. “The Industrial Valley offers state of the art infrastructure, with unique access to King Abdullah Port, one of the largest in the Red Sea region, the Haramain Railway and the Saudi Land Bridge.”
The Industrial Valley is situated alongside King Abdullah Port, which is a strategic advantage for companies since it is a major destination and advanced supply point for manufacturing and logistical services. Through the port, companies located in the Industrial Valley reach more than 620 million consumers in the Red Sea region.
“The company will increase production capacity from 10,000 tons to 30,000 tons annually, which will enable us to directly meet the needs and demands of the Saudi and regional markets, so we can add value to all our clients,” said Mr. Mohamed Al Tazi, the General Manager of Ahmad Al Tazi Rockwool Factory. “Our company is one of the Kingdom’s rock wool pioneers.”
Al Tazi will enhance expansion plans and production capacity both locally and regionally, in conjunction with the expansion of its presence in good-profitability African markets. Construction of the new facilities is set to begin this quarter.
“Al Tazi’s expansion is proof of its growing business and a reflection of the high levels of mutual trust between Al Tazi and the Industrial Valley,” said Industrial Valley CEO, Mr. Rayan Qutub. “The Industrial Valley is still meeting the growing demand for industrial land rental and sales, which has enabled us to attract more than 120 of the largest local, regional and international industrial companies. 25 of these companies have entered the production phase, while 35 have started building their plants.”
Rockwool is considered one of the most important materials used for thermal isolation and fire resistance. Al Tazi is considered a significant part of the Saudi rockwool industry, as its factories in the Kingdom produce over 110,000 tons a year, out of the 190,000 tonnes annually produced by the Gulf region in general.

Source: Arab News

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