The world’s largest privately-owned armoured vehicle facility officially opened its doors for business in the Ras Al Khaimah Free Trade Zone on Wednesday, following an inauguration ceremony led by the ruler of the emirate.
Owned by the Streit Group, the new facility is divided into three consecutive phases, of which the main production facility (occupying 130,064m2), has been completed at a cost of over $21.7m. It is one of the largest investments of its kind at RAK FTZ.
“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 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,” he added.
Part of Phase 1 of the development, the new facility will house a full range of amenities for research and development, manufacturing, testing, training and storage of armoured vehicles in a single complex.
Phases II and III of the project, estimated to cost more than $32.6m cumulatively, will include a glass factory, pre-fabrication facilities, expansion of employee accommodation facilities, fuelling stations, helipad and support manufacturing. These facilities are expected to be completed by 2014.
“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 customisations 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 current employs 400 people, and the staff strength is expected to increase to over 2,000 as the new facilities come online and output expands. The Group estimates that sales will hit $40.8m over the next five years.
The manufacturing facility is equipped with the latest 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 area is also sufficiently large to enable the storage of 120 million auto parts in the warehousing facility.
