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Dubai: Construction Products Holding Company (CPC) and Arabian Roots have set up a $80 billion joint venture to produce pre-engineered steel structure buildings in the UAE, Syria and Damascus, CPC said on Thursday.
The Abu Dhabi plant would have a production capacity of 100,000 tonnes per year and would begin operating in March next year. Through the alliance, the companies would form Roots Steel to target construction companies in Saudi Arabia, Europe and other Middle Eastern Countries.
"CPC has the Middle East's highest standard in the field of contracting and construction. Our business vision and philosophy is to serve as a catalyst for a 'One Stop Shop' outlet providing all the needs of modern construction," said CPC business development director Dr Faisal Alaquil.
The Damascus and Cairo factories, each with a capacity of 100,000 tonnes per year would begin operating in November 2008 and February 2009 respectively.
The formation of Roots Steel is in line with CPC's mission to target the markets of Saudi Arabia, Euro-pe, other Mideast countries, Southeast Asia and the US.
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