07 June 2005

Amiantit factories in KSA export GRP pipes to 13 countries

DAMMAM, Saudi Arabia, June 7, 2005 -- During April 2005, three Amiantit manufacturing facilities in Saudi Arabia: Amiantit Fiberglass Industries Limited (AFIL) in Dammam, FPC in Dammam, and Amitech in Jeddah, completed exports to 13 countries.

"While Saudi Arabia remains our biggest single market, export orders are becoming more and more substantial and their combined volume adds up to an increasingly important part of our business." said Eng. Fareed Al-Khalawi, Amiantit president and CEO. "

The orders were for Glass-fibre Reinforced Polyester (GRP) -- also known as fiberglass reinforced polyester (FRP) -- pipes of various diameters for water and waste water infrastructure projects and included 10 km to Syria, 5 km to Morganti, Jordan, 3 km to Sabiyah, Kuwait, 3 km to Sudan, 2 km to Sohar, Oman, 2 km to Yemen and 1.5 km to Zawia, Libya.

In addition, AFIL Dammam has supplied the Iran Marine Industrial Company (SADRA) with SAR 48.75 million (US$13 million) worth of pipes and fittings. SADRA is one of Iran's biggest off-shore contracting companies and has the contract to provide utility services to the Assuluya based petrochemical industries. The project will supply sea water for cooling which is transported through an open channel to a pumping station and then through a 12 km network of GRP pipes to the industrial complex. Steel pipes were originally specified but following a detailed technical scrutiny and evaluation world wide, GRP was selected and AFIL was awarded the design, review, engineering, supply and supervision of the piping network.

Another Amiantit manufacturing facility, Amiantit Fiberglass Industries India Ltd. (AFIIL), is currently servicing an order for GRP underground storage tanks from Reliance Industries, India's largest private sector refinery and petrochemical company. Reliance has a programme to establish nearly 5800 retail outlets over a five year period. Between January 2004, when the AFIIL plant in Goa, India was commissioned, and March 2005, Amiantit India supplied some 2000 GRP tanks in configurations of 20, 40 and 70 kl. Then, last month when Reliance had a sudden requirement for more tanks to be delivered within a short time frame, they ordered an additional 2000 GRP tanks. The total contract is worth SAR 37.5 (US$10 million) out of which more than SAR 28 million (US$7.5 million) worth of tanks is for delivery during 2005.

Also in April, GRP pipes and fittings were supplied to a number of customers in Saudi Arabia including continuing delivery of AFIL's world record four metre diameter pipes to the Royal Commission for Jubail & Yanbu.

Eng. Fareed Al-Khalawi went on to say "These orders show global confidence in the reliability of Amiantit products and technologies, all of which are supported by certifications such as ISO 9001, ISO 14001, UL, FM, NSF, and many others, ensuring that production conforms to the highest international standards."

GRP products are manufactured using Amiantit-owned FlowtiteTM technology and are corrosion free, strong, lightweight, and cost effective due to easy installation and minimal maintenance.

The Amiantit Company was established in 1968 at Dammam as a limited liability company and was converted into a joint stock company in 1994. It started with a paid-up share capital of 4,000,000 Saudi Arabian riyals (SAR) [US$1.07 million], which is currently standing at SAR 770,000,000 [US$205.3 million]. Its shares are traded on the Saudi Stock Exchange. The prime activity of the company is to initiate and manage new industrial projects, and market its technologies and products. The company also monitors and controls the business of all the Amiantit Group subsidiaries through its corporate management office in Dammam.

The Amiantit Group (www.amiantit.com) is a leading industrial organization with global strength and is comprised of companies in the Kingdom and abroad that manufacture various kinds of pipes, joints, fittings, tanks, rubber & insulation products, and related accessories. Other activities include own and transfer technology, and water project consultancy and management all around the world.

Lebanon Time-Line

Introducing Lebanon

Coolly combining the ancient with the ultramodern, Lebanon is one of the most captivating countries in the Middle East. From the Phoenician findings of Tyre (Sour) and Roman Baalbek's tremendous temple to Beirut's BO18 and Bernard Khoury's modern movement, the span of Lebanon's history leaves many visitors spinning. Tripoli (Trablous) is considered to have the best souk in the country and is famous for its Mamluk architecture. It's well equipped with a taste of modernity as well; Jounieh, formerly a sleepy fishing village, is a town alive with nightclubs and glitz on summer weekends.

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The rejuvenation of the Beirut Central District is one of the largest, most ambitious urban redevelopment projects ever undertaken. Travellers will find the excitement surrounding this and other developments and designs palpable - and very infectious.

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Introducing Beirut

What Beirut is depends entirely on where you are. If you’re gazing at the beautifully reconstructed colonial relics and mosques of central Beirut’s Downtown, the city is a triumph of rejuvenation over disaster.

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Throw in maniacal drivers, air pollution from old, smoking Mercedes taxis, world-class universities, bars to rival Soho and coffee thicker than mud, political demonstrations, and swimming pools awash with more silicone than Miami. Add people so friendly you’ll swear it can’t be true, a political situation existing on a knife-edge, internationally renowned museums and gallery openings that continue in the face of explosions, assassinations and power cuts, and you’ll find that you’ve never experienced a capital city quite so alive and kicking – despite its frequent volatility.