Ras Al Khaimah: Wed, 04 Apr 2012
Top armoured vehicle maker Streit Group has announced the opening of the ‘world’s largest privately-owned armoured vehicle facility’ at Ras Al Khaimah in the UAE which has a capacity to produce 400 vehicles per month.
Sheikh Saud Bin Saqr Al Qasimi, Member of the UAE Supreme Council and Ruler of Ras Al Khaimah, on Wednesday inaugurated the new facility located at the Technology Park of Ras Al Khaimah Free Trade Zone (RAK FTZ).
Speaking at the launch, Sheikh Saud said, ‘To have the world’s largest privately-owned armoured vehicle facility is an achievement for the UAE and Ras Al Khaimah. We have always believed in putting our best efforts towards supporting our local economy, by attracting big businesses and investments to the UAE.’
Streit’s growing portfolio includes personal protection vehicles, cash-in transit vehicles, heavy-duty cash-in-transit trucks, law-enforcement vehicles and vehicles for military tactical units.
Armouring can also be provided for existing civilian platforms such as custom-built luxury sedans and SUVs.
SG’s expansion plan is divided into three consecutive phases, of which the main production facility, occupying 1.4 million sq ft, has been completed at a cost over Dh80 million ($21.7 million) – making it one of the biggest investments of its kind at RAK FTZ.
SG, which has been operating from RAK FTZ since 2005, started with a 150 sq m warehouse facility at Technology Park, and today, has grown to develop the world’s largest armoured vehicle facility.
Part of the Phase I of the development, the new facility boasts a hitech design and houses full range amenities for research and development, manufacturing, testing, training, and storage of the armoured vehicles in a single complex.
The second and third phase, estimated at over Dh120 million cumulatively, will include a glass factory, pre-fabrication facilities, expansion of the employee accommodation facility, fuelling stations, helipad, and support manufacturing. These facilities are expected to be completed by 2014.
The new facility, can produce and test 40 different models of armoured vehicles for commercial, semi-military and military use, has a total capacity to manufacture 250 armoured vehicles per month under normal loads, said a top company official.
The production capacity can be raised to 400 units, when required, remarked Guerman Goutorov, CEO of Streit Group.
We are delighted with the inauguration of our new facility, and the support that the RAK leadership has offered in our operations,’ he stated.
‘The emirate offers a range of public services, such as: easy access to transport infrastructures like ports and airports, flourishing community, cost-effective housing facilities and access to other support services,’ Goutorov added.
‘With our new facility, Streit is looking to further penetrate the market for armoured vehicles in the UAE and the region by leveraging superior engineering and world-class design to create the products known for its safety and endurance,’ he said.
According to him, the group aims to achieve Dh150 million worth of sales over the next five years.
The new facility currently employs 400 people, and the staff strength is expected to increase to over 2,000 as the new facilities come online and the output expands.
The new facility will help us offer a wide range of production options for various uses in the region, and help us cater to large orders and customisations with minimum lead time,’ said Goutorov.
‘We are looking to expand the use of semi-military vehicles, for instance for ferrying aid staff and relief supplies to conflict areas, and are also looking to introduce a new range of Military Police vehicles,’ he added.
In his comments, free zone CEO Oussama El Omari said: “The launch is ample testimony to the growing importance of RAK FTZ as a strategic hub for industries across multiple sectors, with top companies choosing the free zone, thanks to our investment-friendly regulations and transparent policies.’
‘We look forward to a mutually-beneficial partnership with Streit Group in the years to come,’ he added.
Source: TradeArabia News Service