Construction machinery industry in the UAE will continue to grow despite the global credit crisis, according to Kanoo Machinery.
Senior company officials said they plan to go ahead with the pre-planned expansion programme and build two new purpose-built office, warehouse and product support facilities in Dubai's Jebel Ali Free Zone and Mussaffah, Abu Dhabi.
The UAE-based Kanoo Machinery recently opened new branches in Sharjah and Ras Al Khaimah to cater to the growing economic activity in the Northern Emirates.
Kannan Chandrasekaran, Group Product Manager of Kanoo Machinery said while the effects of the global economy crisis are being felt everywhere, the forthcoming Big 5 PMV exhibition in Dubai will highlight the way the Gulf is riding the storm.
Ongoing and planned projects in the Middle East has turned the region into the world's biggest market for plant, construction machinery, vehicles and equipment, demand for which is expected to grow by up to 20 per cent over the next four years.
Chandrasekaran said: "With the recent economical crisis, the only solace for most companies is the Gulf, because of its committed long-term project investments. Our recent expansion proves we are keeping pace with the construction boom in the UAE and other GCC states, and we want to make sure this continues."
In 2007 the company signed distribution agreements with GEDA, a German manufacturer of personnel and material hoists. "This allows us to offer full range of hoisting options from 250kg ladder lifts up to three tonne twin-cage machines for high-rise buildings of up to 450 metres," he said.– Emirates Business
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