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Saud bin Saqr Al Qasimi inaugurates Dh 300 Million Streit Group facilities

posted on 27/02/2015: 2355 views



Under the patronage of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras al-Khaimah, STREIT Group, the world's leading manufacturer of armoured vehicles, has inaugurated Phase two of the world's largest industrial park for the armoured vehicles industry at the Technology Park of RAK Free Trade Zone (RAK FTZ) in Al Hamra area.

The facility includes the Armoured Protection Glass (APG) factory for safety and bulletproof glass production, a state-of-the-art research and development centre, international parts distribution warehouse and Canadian Safety Solutions Training Centre.

The inauguration marks the completion of the second phase of expansion planned by STREIT Group, and will be added to the armoured vehicle manufacturing facility which is already operational.

In a statement, Sheikh Saud said that the opening of the new factory marks a milestone achievement for the industrial sector in the UAE in general, and in Ras al-Khaimah in particular, and will be a mainstay of the UAE economy. He reiterated his keenness to pursue the mission of supporting the UAE economy by attracting international investment to the country. This would make a significant contribution to the development of the UAE economy and create important jobs for the nation.

Sheikh Saud added, "The Emirate of Ras al-Khaimah is characterised by its strategic location, advanced infrastructure and outstanding facilities for logistics operations, which contribute to facilitating import and export operations, offering access to raw materials and export products to locations all over the world." Guerman Goutorov, Chairman and CEO of Streit Group, said that the opening of Phase Two of the armoured vehicle facility is a new step in the group's strategy to expand its investments in Ras al-Khaimah. This will be followed by other initiatives in the near future.

He said that the new facility will contribute to increasing the manufacturing capacity of the factory to up to 400 armoured vehicles per month given normal workload. However, this capacity can be raised to 500 units when required. The production will be carried out in accordance with the highest standards.

Goutorov added, "This initiative will help with providing a wide range of armoured vehicle production options for different uses in the region. It will also help meet large orders, since STREIT Group looks forward to further expansion." He pointed out that following the opening of the new facility, the number of employees in STREIT Group will rise, following the completion of all expansions in the future, this number is expected to increase to up to nearly 2,000 employees.

Peter J. Fort, CEO, Ras al-Khaimah Free Trade Zone, noted that the Armored Glass Factory was only the latest development in Streit Group's highly successful expansion at RAK FTZ over the last decade.

"We congratulate Streit Group on the opening of its ballistic glass factory and are gratified that once again we were able to provide the comprehensive, high-quality, client centric support that enables our clients to dedicate their attention to their own business growth and success," Fort said. "Streit signed an additional land lease with RAK FTZ last year, tripling the size of its facilities, including warehouses and land, to nearly 5 million square feet. The growing cluster of armoured vehicle manufacturers and related security industry sectors that Streit leads at RAK FTZ are strengthening Ras Al Khaimah's reputation as a fast-growing regional centre of industrial manufacturing." The total investment of the project is over Dh300 million and consists of three phases. It covers 8,000 square metres in surface area. STREIT Group intends to expand with additional 7,500 square metres to the complex in the future, in order to serve increasing demands, both in domestic and global markets. - Emirates News Agency, WAM –

http://www.wam.ae/en/news/economics/1395277178306.html

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