Dubai: Saudi Arabia's major industrial conglomerate Al Zamil Group yesterday announced a joint venture with Sharjah-based Mulk Holdings, producers of aluminum composite panels and green products, to manufacture Alubond branded metal composite panels and aluminium coil coating, that could potentially generate up to Dh1 billion in revenues.
This agreement, paving the way for a larger strategic relationship that was signed by Sulaiman Al Zamil, director and board member at Al Zamil Group, and Shaji Al Mulk, chairman of Mulk Holdings, at Mulk Holdings head office in Hamriyah Free Zone, Sharjah.
Present on the occasion were Abdullah Al Zamil, CEO of Al Zamil Aluminum, Fahd Al Thukair, president Unicoil of Saudi Arabia, along with Sa'ad Ullah Khan, director, business development at Mulk Holdings, and Mallikarjuna Rao, general manager, Alubond Global.
Mulk Holdings and Al Zamil group will set up a metal composite panel manufacturing line in the first phase supported by a 1,600mm-wide colour coating line.
Facilities
There will be two composite panel production lines with an annual production facility of over 4 million square metres and 12,000 tonnes of coated coils. This facility will be based in Jubail industrial area along with Unicoil.
The consistent Saudi economy and the growth in the construction sector growth was the main catalyst for this decision.
