Oryx Industries, the leading Gulf producer of construction materials based in Fujairah, has signed a new takeoff agreement with Qatar-based Al Hodaifi Rocks for the import, transport, storage and delivery of building materials at a signing ceremony held in Doha, Qatar.
Under the terms of the agreement, Oryx Industries will supply Al Hodaifi Rocks with 2.6 million tons of quarry products over the course of one year commencing at the signature date. Building materials will be delivered to Qatar through the Port of Fujairah.
As the second largest importer globally for gabbro products in 2013, Qatar currently accounts for almost 90 per cent of the UAE’s gabbro exports. Furthermore the Government has recently removed the importing limits of 150,000 tons per company allowing Qatari businesses to import even greater levels of construction materials. Al Hodaifi Rocks, a renowned name in the Qatari market for its product quality, service, reliability and efficiency, with a rising capacity of materials-handling operations has been a key building material trader supplying the building materials needed by Qatar’s construction industry since 2006.
Central to the future construction sector boom in Qatar is the upcoming World Cup 2022 – which will see Qatar spending more than $312bn on building projects ahead of the tournament. At least 8 new sports stadiums are planned, many of which are currently under construction and many more existing stadiums are planned to be refurbished ahead of the opening. Raw materials needed to accomplish the upcoming World Cup projects are expected to rise sharply, with a doubling of aggregate requirements in the next three years, increasing further as more projects get underway.
In addition to the construction of sporting projects is the infrastructural development required to host an estimated 3.7 million tourist arrivals which is expected to receive approximately $65bn to $200bn in Government investment across tourism, leisure and hospitality sectors, in addition to associated projects such as roads and walkways to supply the added tourism demand. Supplying raw materials for such a vast undertaking will rely heavily on the development of strong relationships and agreements with local suppliers of construction aggregate, much like the new deal between Fujairah based Oryx Industries and Qatar-based Al Hodaifi Rocks.
Commenting on the agreement, Mr. Majdi Khalaf, Vice Chairman and Group CEO of Oryx Industries, expressed his continued confidence in the strong recovery of the construction sector within the GCC markets. “The recovery is increasing demand for building materials and opening opportunities for Oryx Industries to establish lasting business relationships – as can be seen in this agreement. Our mission has always been to become the regional leader in building materials production, trading and bulk transport logistic services. We expect to play an important role in laying the foundations for many of the large-scale real estate and infrastructure projects anticipated throughout the GCC in the coming years,” he said.
Mr. Khalaf added: At Oryx Industries we’re very well poised to embark upon a phase of strong growth, underpinned by the increasing prominence of Fujairah, which is at the center of the UAE’s quarry product expansion. In line with this strategy, we look forward to pursuing what will be a very fruitful partnership with Al Hodaifi Rocks – a company which is playing a major role in driving the construction boom in Qatar.”
Mr. Saoud Ghandour, Managing Director of Al Hodaifi Rocks, said: “With the current strong pipeline of construction projects in Qatar, Al Hodaifi Rocks is seeking strong partnerships to secure its escalating needs for building materials. Mr. Ghandour emphasized that Oryx Industries is today among the leading names supplying these products in the region.”
The new takeoff agreement adds to the strength and growth of both Oryx Industries and Al Hodaifi Rocks.