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Emaar, The Economic City signs MoU with Mars GCC

- July 21, 2008, 4:11 pm

The MoU follows the recent visit of the Custodian of the Two Holy Mosques King Abdullah bin AbdulAziz AlSaud to KAEC, when major international and local investment projects worth over SR130bn were announced.

Mr Fahd Al-Rasheed, Chief Executive Officer and Board Member, Emaar.E.C, and Mr Ahmed Bayoumi, General Manager of Mars GCC FZE, signed the MoU in Jeddah, recently.

The world’s leading confectionary manufacturer with several established brands, Mars will undertake feasibility studies to evaluate the potentials of the manufacturing plant, which is expected to serve as a regional hub for the company. The details of investment, job opportunities created and production processes will be announced after completion of the studies.

Mr Al-Rasheed said: ‘KAEC has established itself as the most attractive investment destination for industries across the board. Mars is a leader in the confectionary sector, and the MoU underscores the increasing acceptance by international manufacturers to establish a base in the Kingdom. KAEC not only offers an advanced industrial infrastructure, the Sea Port being developed as part of the project will give manufacturers in KAEC superior logistical advantages.’

Mr Abdel Hakim Hakim, General Manager, Mars Saudi, said: ‘We are proud to join hands with KAEC, a development that reflects the vision of the Custodian of the Two Holy Mosques King Abdullah bin AbdulAziz AlSaud in providing a modern lifestyle. KAEC offers a strong platform for growth by offering an environment that supports industries and marketing.’

‘Mars GCC is a leader in the regional confectionary business, and our potential expansion to KAEC will further help us to consolidate our market reach apart from building a manufacturing hub to serve the entire Middle East and North Africa region. We are committed to contributing to the economic growth in the Kingdom and in playing an active role towards the prosperity of the Saudi society,’ he added.

Mars GCC works with local governments and decision makers to provide consultation to enhance quality and safety standards in the food industry, led by the five core values that have built the success of Mars. These values include: quality, responsibility, exchange, efficiency and freedom. Mars is committed to serving communities by establishing joint relations with official sectors, organizations, employees, suppliers and customers based on mutual honesty and trust.

Launched to strong investor response, the Industrial Zone in KAEC spreads over 63 million sq metres and features 4,400 net hectares of land dedicated to industries and light manufacturing facilities. Recently, The Custodian of The Two Holy Mosques King Abdullah Bin AbdulAziz AlSaud unveiled the KAEC Plastics Valley in the Industrial Zone. Designed solely with the needs of manufacturers in mind, the Zone will have over 2,500 industrialists and manufacturers.

KAEC is the single largest private sector development in the region and has five other zones - the Sea Port, Central Business District, Educational Zone, Resort District and Residential Communities. Work is progressing on the first phase including the Sea Port, Industrial Zone and Residential Communities, at an accelerated pace.

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