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Sunday, November 22 - 2009

Investors seek KAEC opportunities amidst global recession

  • Saudi Arabia: Wednesday, April 22 - 2009 at 13:02
  • PRESS RELEASE

Several investing companies, including International Pipes & Electricity Factory and Al Zamil Trade & Transport, have announced combined investments worth SR160m into King Abdullah Economic City's "Industrial Valley".

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  • Industrial Valley Head Office in KAEC.
    Industrial Valley Head Office in KAEC.
In a move illustrative of KAEC's growing importance as a hub for industrial innovation and logistics, the investments are made to increase the interested company's access to a greater portion of the 250m consumers available through KAEC's strategic location on the Red Sea.

The investments are juxtaposed against KAEC's massive job opportunities; in excess of 11,000 new opportunities in the first phases of development by initial estimates.

Mr. Hatem Malawi, General Manager at International Pipes & Electricity Factory (a subsidiary of Ateyyah Group) and one of the first investors at the industrial valley, said

"Some of the most significant reasons for us to invest here are the services and facilities born at KAEC. The Industrial Valley's proximity to main land, sea, rail, and air routes from within and outside the Kingdom are corner stone benefits."


He added.

According to Mr. Hisham Abdel Rahman Al Zamil, Chief Executive Officer and Managing Director of Al Zamil Trade and Transport, the global situation has further demonstrated the value of investing in the industrial valley.

Being more competitive, reducing impediments to trade and allowing for better overall return on investments are excellent provisions for Al Zamil and other investors.
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