ALUMCO expands factory in Qatar
Over $13 million investment to fulfill demand
ALUMCO, local manufacturer of aluminum and metal works, aims to open a new factory in Qatar. The company will move out of its rented premises in the country to a fully-owned facility. Nabih Haddad, Chairman of Alumco, said: “The purpose behind expanding the factory in Qatar is to meet the increasing demand on aluminum products there, thanks to the growth of the real estate activity in this market and the excitement linked to the 2020 World Cup.”
The Qatari state leased a 12,000 square meter land plot to ALUMCO for 50 years for around $6.8 million, after which the property becomes owned by Alumco. The factory’s built-up area will reach 5,000 square meters. It will employ around 200 workers per shift. The cost of constructing the offices and factory will reach an additional $6.8 million.
Construction is expected to be completed within a month, and the new factory will be inaugurated at the end of 2013. The production capacity of the new facility will reach about 7,000 square meters of Aluminum per month. “The new factory will supply the Qatari market only,” said Haddad.
ALUMCO also has factories and offices in Saudi Arabia and the UAE.
The company’s turnover reached $90 million last year, of which $18 million in the Lebanese market.
Date Posted: Nov 25, 2013