ICON’s arm to build SAR 40M factory in Saudi Arabia
Updated 10/31/2023 9:50:00 AM
Arab Finance: Prefabricated Buildings Development Industrial Co., a 100%-owned subsidiary by Industrial Engineering Company for Construction and Development (ICON), has penned a SAR 40 million contract to establish a factory in Tabuk, Saudi Arabia, according to a statement sent to the Egyptian Exchange (EGX) on October 31st.
The factory will specialize in the production and manufacture of prefabricated units and light metal sections (LGS).
“This is another step in the successive and successful expansion in the Middle East, as the factory covers an area of 31,000 square meters, and aims to cover the Saudi market and the Gulf region with all its needs for prefabricated buildings ” Prefabricated Buildings’ General Manager Ahmed Elwan stated.
The project is expected to begin trial operation during the second half (H1) of 2024.
ICON is an Egypt-based company engaged in manufacturing and producing several types of steel-sheet-related products.
The company’s products include sandwich steel panels, caravans, guard rails, purlins, pre-fabricated units, corrugated sheets, galvanized tubes and pipes, aluminum windows, and doors.
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