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Alghanim Industries, Saint-Gobain to Build New Stone Wool Factory

The lease is for a period of 30 years and will allow the development of a new plant utilizing Saint-Gobain’s proprietary technology to produce stone wool, which is widely used as insulation in many parts of the construction industry. The agreement follows a comprehensive review of the environmental impact and approval for plant layouts, building structure and utilities from the Yanbu local authorities. Construction of the state-of-the-art plant is expected to begin in August 2013 and it is planned to be operational by early 2014. The plant represents an investment by SIIMCO of about EUR 45 million. When completed it will employ around 200 people and have the annual capacity to produce 60000 t/a of stone-wool, thermal and acoustical insulation materials in the form of slabs, rolls, stitched mats, and preformed pipe insulation. It will serve the technical and building insulation market segments in Saudi Arabia and other regional markets in the GCC, Egypt, Iraq and Levant. The agreement was signed by Dr Alaa Nassif, Executive President for Royal Commission, and Mohammad Al-Soaib, General Manager of the First Saudi Insulation Manufacturing Company, a wholly-owned Alghanim Industries subsidiary, at a special ceremony in Yanbu. (7/2013)

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