RIYADH: Al Kathiri Holding Co. has announced that Alian Industrial Company received the initial approval from Saudi Industrial Development Fund to finance the construction of the factory of construction technology plant in Sudair city for industry and business. [the_ad id=”31605″]In response to the Ministry of Housing (Motivating Building Technology) and the National Industrial Development and Logistics Program, Alian Industrial Company, which is wholly owned by Alkathiri Holding Company, has received the initial approval (letter of commitment) from Saudi Industrial Development Fund to finance the establishment of a factory working in Italian technology for the production of reinforced polystyrene sheets reinforced with iron and concrete.
Ministry of Housing aims to provide the best housing solutions for home ownership and reduce the cost of construction, in addition to the speed of implementation with high quality, in order to create suitable jobs for citizens in the construction sector.
Saudi Industrial Development Fund would provide Alian a credit facility of SAR 23.2 million to finance the establishment of a factory working in Italian technology for the production of reinforced polystyrene sheets reinforced with iron and concrete.
The estimated cost of the project is SAR 32.16 million. The total production capacity at 100% of the actual operation of the plant amounts to 1.3 million square meters/year at the rate of 1000 housing units annually.
This percentage will be achieved gradually during the three years following the first operational year with an estimated average sale of SAR 60 million in the third year. The selling capacity of the first year with an average sale of SAR 30million with a rate of operation of 50% of the total production capacity of the factory.
Expected date of establishment of the plant and the beginning of production is first half of 2020.
It is worth to mention that the technology of producing the three-dimensional concrete panels is very developed and sophisticated. Also, it is an alternative for traditional construction methods with a cost and time savings of 30% from the traditional way and process of construction.
In addition of its flexibility in the enforcement modern architectural designs, which can be used in various areas of residential units, commercial buildings, as they achieve the highest standards of efficiency in acoustic and thermal insulation, knowing that this Italian technique is used in all countries of the European Union and the United States of America.