Chairman of Zamil Industrial Investment Company (ZIIC), Dr. Abdulrahman Al Zamil, announced that the company would establish a new venture with Al Zamil Group and Aerated Concrete Industries Company KSC (ACICO) of Kuwait.
The new company is to be called Saudi Aerated Concrete Industries Company Ltd., with ZIIC and the Al Zamil Group each holding a 27.5% stake with the remaining 45% held by ACICO.
Speaking at a press conference, Dr. Al Zamil says: ”We have obtained the industrial license to launch this Dammam-based company. The new company will produce light weight reinforced concrete blocks and partition walls”. He added the commercial registration will be issued shortly. “We have applied for a land to construct the factory, which will be located in Dammam Second Industrial City. The Saudi Aerated Concrete Industries Company Ltd. is expected to start production in the third quarter of 2004.”
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