The huge 4 meter diameter fiberglass pipes (GRP) will supply the state of the art plants of Sharq and Yansab in the Royal Commission of Jubail and Yanbu with sea water for their cooling systems.
Amiantit also won a number of contracts for Saudi ARAMCO worth US$ 18 million for supplying fiberglass reinforced epoxy (GRE) pipe systems used in fire fighting systems and for transporting petrochemicals and potable water. GRE systems are well known internationally for their high resistance to chemicals and industrial waste.
"These contract awards demonstrate the confidence and trust in the reliability and worthiness of Amiantit products. Our confirmed orders up till end of August mount to US$ 300 million in the Arabian Peninsula region only, which indicates the economical drive towards improving the infrastructure, a process Amiantit has been a great part in", said Eng Fareed Al-Khalawi, who went on to say:" These contracts coincide with Amiantit's increase of share capital through rights issue from 205 million to 306 million US dollars."
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Amiantit wins USD 68 million Saudi contracts serving the industry of oil and petrochemicals
- Saudi Arabia: Sunday, October 02 - 2005 at 11:58
- PRESS RELEASE
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In a step to reinforce the leading position of Saudi Arabian Amiantit Company, CEO Engineer Fareed Yousef Al-Khalawi announced that Amiantit has won strategic contracts for projects worth US$ 50 million.
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Posted by Anne-Birte Stensgaard, Senior News EditorSunday, October 02 - 2005 at 11:58 UAE local time (GMT+4)
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This article was updated on Sun Oct 22 2006.
Notes and Media Contacts »
Founded in 1968 in Dammam, Amiantit today is a global industrial group with a presence in more than 70 countries. It is the world's biggest manufacturer pf fiberglass reinforced polyester (GRP) pipes and double and single wall storage tanks, which are manufactured using Flowtite™ technology for which Amiantit owns and licenses the world patents. It is also a leading manufacturer of epoxy pipes, ductile Iron pipes, concrete cylinder pipes, pre-stressed concrete cylinder pipes, reinforced concrete pipes, cement mortar lining of steel pipes, polymer concrete pipes and thermoplastic pipes.
The Saudi Arabian Amiantit Company was established in 1968 at Dammam as a limited liability company and was converted into a joint stock company in 1994. It started with a paid-up share capital of SAR 4,000,000, which is currently standing at US$ 305 million. Its shares are traded on the Saudi Stock Exchange. The prime activity of the company is to initiate and manage new industrial projects, and market its technologies and products. The company also monitors and controls the business of all the Amiantit Group subsidiaries through its corporate management office in Dammam, Saudi Arabia.
The Amiantit Group is a leading industrial organization with global strength and is comprised of companies in the Kingdom and abroad that manufacture various kinds of pipes, joints, fittings, tanks, rubber & insulation products, and related accessories. Other activities include own and transfer technology, and water project consultancy and management all around the world.
For further information please contact:
Assim L. Alhakeem
Saudi Arabian Amiantit Company
Tel: 02 - 651 5676, Ext: #666
Fax: 02 - 651 6149
The Saudi Arabian Amiantit Company was established in 1968 at Dammam as a limited liability company and was converted into a joint stock company in 1994. It started with a paid-up share capital of SAR 4,000,000, which is currently standing at US$ 305 million. Its shares are traded on the Saudi Stock Exchange. The prime activity of the company is to initiate and manage new industrial projects, and market its technologies and products. The company also monitors and controls the business of all the Amiantit Group subsidiaries through its corporate management office in Dammam, Saudi Arabia.
The Amiantit Group is a leading industrial organization with global strength and is comprised of companies in the Kingdom and abroad that manufacture various kinds of pipes, joints, fittings, tanks, rubber & insulation products, and related accessories. Other activities include own and transfer technology, and water project consultancy and management all around the world.
For further information please contact:
Assim L. Alhakeem
Saudi Arabian Amiantit Company
Tel: 02 - 651 5676, Ext: #666
Fax: 02 - 651 6149
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