DOHA: The Fujairah-based Oryx Industries has announced to supply Qatar Primary Materials Company (QPMC) with two million tonnes of quarry products over one year to meet the growing demand from Qatar’s booming construction sector.
In a statement, Oryx Industries said it had signed a new offtake agreement with QPMC for delivery of quarry products.
The signing ceremony was attended by representatives of Oryx Industries, including Bader Al Khashti, General Manager, and Nasser Barakat, Deputy CEO, Isa Hamadi, CEO, and Abdul Salam Muri, Legal Adviser, QPMC.
Al Khashti said: “We are seeing a strong resurgence in demand for construction projects across the GCC markets, nowhere more notably than in Qatar.
“Oryx Industries is well positioned to provide the foundations for large-scale infrastructure projects that are key to the country’s long-term vision. QPMC is at the forefront of facilitating this construction boom. We are delighted to have signed the agreement and look forward to building a productive, lasting partnership.”
Demand for building materials in Qatar is forecast to burgeon amid a spate of mega infrastructure projects. A major driver of the impending construction boom is the World Cup 2022. Qatar will spend more than $200bn on building projects ahead of the tournament, including at least eight new sports stadiums. Another is Doha Metro project expected to see its first phase completed in 2019.
Oryx Industries group deals in quarry products, trading stones, readymix concrete and industrial transportation. It comprises three subsidiaries that produce around 10m tonnes and trades up to 12m tonnes of gabbro products. It has a 60 percent share of readymix concrete in Fujairah and the eastern coast of the UAE, the country being the world’s third largest exporter of quarry products.
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