Streit Group, the world's largest armoured vehicles manufacturer, has signed a land lease that will triple the size of its facilities at the Ras Al Khaimah Free Trade Zone (RAK FTZ).
The agreement will see the company, which was established in a rented garage in Canada in 1996, expand its plot to 4.5 million square feet.
The most recent expansion in Ras Al Khaimah, from 1.4 million square feet, will allow the company to increase production from 1,450 units to 1,500 units per year, and to increase the number of its employees from 648 to 1,000 by the end of 2014.
The expansion will also include a larger employee accommodation, a bullet-proof glass factory, pre-fabrication facilities, fuelling stations, a helipad, and support manufacturing facilities.
"Streit Group's massive expansion in RAK FTZ demonstrates that the free zone's world-class facilities and award-winning services can help not only small and medium-sized companies to grow, but can also enable the expansion of very large enterprises," said Imran Cheema, director of the Client Relations Department of RAK FTZ .
"Streit has become one of our most valued partners, contributing greatly to Ras Al Khaimah's growth by showcasing its top-quality products and services. This expansion also highlights Ras Al Khaimah as a global hub of the armoured vehicles manufacturing industry."
The company first set up facilities in Ras Al Khaimah eight years ago and today it operates in over 100 countries, with 25 global offices and 12 manufacturing facilities worldwide.
"Ras Al Khaimah has a very convenient location in terms of logistics and transportation, and the RAK Free Trade Zone offers great services as well as flexible terms," said Guerman Goutorov, the founder and CEO of Streit Group of Companies.
"We are now in the process of constructing a new manufacturing facility for the production of the bullet-proof glass as well as finalising the plans for our new anti-terrorist training centre, where we will offer our customers specialised training in areas such as security, close protection, law enforcement, and both off-road and on-road driving.
"RAK FTZ has proven to be an ideal partner in our growth over the years in the UAE, and has always supported our vision for meeting and exceeding the world's growing demand for security."