GGICO launch new company for trading of Bitumen

Gulf General Investment Company PSC (GGICO), a Dubai based Investment Company, has opened a new company in Sharjah, Horizon Energy Co. L.L.C, for the trading of Bitumen and Manufacturing and sale of other value added Bitumen products.

United Arab Emirates: Wednesday, July 23 - 2008 at 10:40
PRESS RELEASE

Mohamed Ali Al Sari, GGICO Deputy Managing Director.

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The project will incorporate a 10,550 square meter plant in Khalid Port and have an installed storage capacity of 16,000 tonne.

Added value products to be manufactured include Cut Back, Oxidised Bitumen, Primer and Membrane, which can be used for road surfacing and roofing felt.

The first raw materials have already been imported from Bahrain via pipeline.

GGICO Deputy Managing Director Mohamed Ali Al Sari said the company is expecting an annual turn over of Dhs400m during its first year.

'We are proud to have this company in our portfolio and are looking to expand our service outside the UAE,'

he says.

'Horizon Energy utilizes the latest in cutting edge technology with a focus on quality which ensures demand for our product,' he added.

GGICO is a highly diversified group with business activities in Manufacturing, Industrial, Finance and Brokerage, Rental Real Estate, Freehold Real Estate, Trading, Insurance, Retail, Service, Transport & Hospitality.

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Notes and media contacts

For further information please contact:
Khalil Majdalawi
Cicero & Bernay Public Relations
Tel: +971 4 334 2966
Fax: +971 4 334 2977

Posted by Siba Sami Ammari
Wednesday, July 23 - 2008 at 10:40 UAE local time (GMT+4)

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