Al Rashed Peikko’s sales and production unit in the UAE, Peikko Gulf, has started building a new factory and warehouse on an industrial plot in Ras Al Khaimah.
The group is investing around US $4.7-million in the new 11,500-sqm factory and warehouse, it said in a press release.
Al Rashed Peikko is a joint venture between Peikko Group Corporation, a global supplier of slim floor structures and connection technology for precast applications, and Rashed Abdul Rahman Al Rashed & Sons Group, a leading investment, trading and industrial conglomerate in Saudi Arabia.
The land leasing agreement for the plot was signed in October 2017, and the building work is expected to be completed by the first quarter of 2019.
The new factory consists of over 3,000-sqm of production and warehousing space, with modern office facilities taking up the rest of the 11,500sqm footprint.
"Operating in the Gulf region from the strategically important location of Ras Al Khaimah has been an excellent choice for Peikko," said Topi Paananen, Peikko Group Corporation CEO.
"The new factory will enable large-scale production required for the massive projects in the area, such as Sharjah Waterfront City in the UAE and Ministry of Interior Housing Project in Saudi Arabia. Local presence is crucial in order to fulfil our customers’ tight delivery schedules," he added.
"The factory will use the latest technology and automation in order to enhance connection item and Deltabeam Slim Floor Structure production capacity, and strengthen manufacturing with an optimal layout for increased operations and possibility for future expansion," he said.