Ras Al Khaimah will be home to the world’s largest privately-owned armoured vehicle facility.
Sheikh Saud Bin Saqr Al Qasimi, member of the UAE Supreme Council and Ruler of Ras Al Khaimah, inaugurated the facility located in the Technology Park of Ras Al Khaimah Free Trade Zone (RAK FTZ), which is one of the fastest-growing and most cost-effective free trade zones in the UAE.
“To have the world’s largest privately-owned armoured vehicle facility is an achievement for the UAE and Ras Al Khaimah. We have always believed in putting our best efforts towards supporting our local economy, by attracting big businesses and investments to the UAE and we are happy to have this facility of Streit Group here at RAK FTZ. We wish to extend our congratulations to Streit Group for their expansion and completion of this new facility, and wish them all the success,” Sheikh Saud said in his speech.
The new facility, can produce and test 40 different models of armoured vehicles for commercial, semi-military and military use, has a total capacity to manufacture 250 armoured vehicles per month under normal loads. The production capacity can be raised to 400 units, when required.
Streit Group (SG), which is one of the world’s largest armoured vehicle manufacturers owns 1.4 million sq. ft. facility which was built at a cost of over AED80 million ($21.7mn) is part of phase I of the project.
“We are delighted with the inauguration of our new facility, and the support that the leadership of Ras Al Khaimah has offered in our operations. The emirate offers a range of public services, such as: easy access to transport infrastructures like ports and airports, flourishing community, cost-effective housing facilities and access to other support services. With our new facility, Streit Group is looking to further penetrate the market for armoured vehicles in the UAE and the region by leveraging superior engineering and world-class design to create the products known for its safety and endurance,” said Guerman Goutorov, CEO of Streit Group.
The new facility boasts a state-of-the-art design and houses full range amenities for research and development, manufacturing, testing, training, and storage of the armoured vehicles in a single complex.
Phases II and III of the project, estimated at over AED120 million ($32.67m) cumulatively is expected to be completed by 2014.
This will include a glass factory, pre-fabrication facilities, expansion of the employee accommodation facility, fuelling stations, helipad, and support manufacturing.
“We are extremely privileged to have this wonderful facility of Streit Group at RAK FTZ. This is ample testimony to the growing importance of RAK FTZ as a strategic hub for industries across multiple sectors, with top companies choosing the free zone,thanks to our investment-friendly regulations and transparent policies. We look forward to a mutually-beneficial partnership with Streit Group in the years to come,” said Oussama El Omari, CEO of RAK FTZ.
The manufacturing facility is equipped with the latest Computer Numerically Controlled (CNC) laser-cutting technology, with automated and semi-automated production lines. All procedures are ISO certified, and the facility can craft all the components required for an armoured vehicle with the input of steel sheets and raw materials. The manufacturing facilities are sufficiently large to enable the storage of 120 million auto parts in the warehousing facility, and the entire project brings together a truly multinational workforce from over 20 countries that has worked together for over the last 20 years to create high-quality and extremely safe armoured products.
“The new facility will help us offer a wide range of production options for various uses in the region, and help us cater to large orders and customizations with minimum lead time. We are looking to expand the use of semi-military vehicles, for instance for ferrying aid staff and relief supplies to conflict areas, and are also looking to introduce a new range of Military Police vehicles,” said Goutorov.
The new facility currently employs 400 people, and the staff strength is expected to increase to over 2,000 as the new facilities come online and the output expands. The group is estimating sales of AED150 million ($40.84m) over the next five years.
“Streit Group’s core values revolve around excellence, reliability and meeting the increasing market needs, and our facility in Ras Al Khaimah will serve as an added proof to the reputation and image that the group has built over the years. The facility puts us at the centre of the transport links, raw material sources and expertise that we need to successfully grow our operations locally and regionally,” added Goutorov.