Aamal Launches QR200 Million Project to Manufacture Concrete Pipe Products

Doha, December 28 (QNA) - Aamal Company QSC (Aamal), one of the GCCs fastest growing diversified companies, announced Sunday that their Advanced Pipes and Casts Company ("APC") has commenced commercial production at its newly constructed, state-of-the-art factory in Mesaieed. A total of QAR 200 million (US$ 55 million) has been invested in establishing the new facility which specializes in the manufacture of concrete pipe products to supply infrastructure and pipeline projects in Qatar and across the region, Aamal said in a statement. Established as a 50:50 joint venture between Aamal and a Saudi Arabian subsidiary of the Lokma Group, APC will manufacture reinforced concrete pipes using the most up-to-date technologies. The factory is considered the largest in Qatar with a built-up area of 85,000 sqm and has an annual production capacity of 450,000 tonnes. It will produce a range of infrastructure and construction products including jacking pipes, reinforced concrete pipes, circular precast concrete manholes and precast concrete box culverts, which is considered a new product that will be manufactured in Qatar for the first time. In line with its strategy for diversification into new, high growth revenue streams, Aamal anticipates significant demand for its new concrete pipe products driven by their wide range of applications to Qatars rapid infrastructure development including sewage, drinking water, raw water and irrigation, drainage, hydro power, thermal power cooling and industrial uses in addition to use in highway and railway projects. In developing the plant, the Company has ensured adherence to the best environmental and safety practice standards and is committed to the implementation and maintenance of a rigid Health, Safety and Environment (HSE) Policy. Commenting on the occasion, HE Chairman of Aamal Company Sheikh Faisal bin Qassim Al-Thani said: "Aamal is committed to playing an active role in the diversification of the industrial base in Qatar. Our partnership with the renowned Lokma Group, one of leaders in this field, demonstrates our commitment to attracting and partnering with the best investors to offer world-class products and services of the highest quality." "With such a large number of projects underway dedicated to upgrading the infrastructure in Qatar and the region, we expect to see significant continuing growth in demand for the specialised concrete and other pipes which APC is now able to meet. We have designed the APC plant and its operations to ensure APC's products are of the highest quality and are priced competitively, further enhancing the strength and diversification of our core Industrial Manufacturing division and contributing to the broader development of an indigenous, world-class industrial sector in Qatar," HE Sheikh Faisal bin Qassim Al-Thani added. Aamal Company was formed in January 2001 as a private shareholding company with limited liability (W.L.L.) registered in the state of Qatar. In July 2007, Aamal became a public shareholding company and was listed on the Qatar Exchange in December 2007 with a paid up capital of QR 3.45 billion, making it one of the largest public shareholding companies in Qatar. Aamal has since increased its paid up capital to QAR 6 billion. Aamal is widely diversified with operations across 22 business units, some of which have been operating in Qatar for more than 40 years, achieving strong market leading positions. (QNA)