The National Integrated Industries Complex (NIIC), the first industrial complex of its kind in the Middle East, recently announced signing a partnership agreement with Baniyas Investment and Development Company, based in the United Arab Emirates, as a new strategic partner in the Industrial complex.
This partnership offers 15% of NIIC's overall capital to Baniyas Investment and Development Company, therefore distributing the capital shares as follows: 57% to Middle East Complex- the Jordanian partner, 28% to National Holding Company- Emirates partner, in addition to the 15% share of Baniyas Investment and Development Company.
Such a strategic partnership comes at a time when NIIC is in its final preparation stages of the project, through the inauguration of the production lines and the start of the trial production process after importing quantities of raw material with special specifications and high quality.
This strategic partnership was established in the presence of the Chairman of NIIC Mr. Osama Darwish Al Khalili who commented: "We at NIIC welcome our new strategic partner Baniyas who is amongst the most important and powerful companies in the Arab world. Our partnership with Baniyas is definitely an important addition to us and we all hope to harvest the success of such an investment in the near future".
Baniyas Investment and Development Company was established in 2005, as an investment, development and real estate management company; it is now recognized as one of the most prominent and fast progressing companies in the United Arab Emirates. In a short period of time, Baniyas was able to prove it's proficiency by taking on a large number projects and investments. The company now owns a number of important projects such as Bawabat Al Sharq which is located at Bani Yas City in Abu Dhabi, with an investment value of 3 Billion Dirhams; in addition to other residential projects in Abu Dhabi and a series of projects in Syria, Lebanon and Egypt.
Speaking of the new strategic alliance, Mr. Wael Al Tawil, CEO of Baniyas Investment and Development Company Said; "NIIC is an important project that holds great promises for a new chapter in the world of home electronics and electrical appliances. Its establishment during the current financial environment, and considering NIIC's high-quality specifications and scale, confirms it as a first class project that deserves our full participation and support".
NIIC's initial investment which reached 200 million dollars and was constructed with an elevated level of technical support, is considered to be the largest integrated industrial complex for the production of home electrical and electronic appliances in the Middle East; it is built on a 200 thousand square meters of land in the capital of Jordan, Amman.
On this occasion Mr. Mashhour Al Basha CEO of (NIIC), said "NIIC was established after a process of detailed studies that where done by our team; such studies presented the consumption volume of the main markets in the Middle East and North Africa which exceed 17.5 million units of refrigerators, washing machines and Air conditioners. We have prepared practical strategies that will enable us to take over 3% of the volume of these markets by the fourth year of the factories operations; at such time where the production power of the factories is estimated to reach 700 thousand electronic and electrical units in a consecutive year in one shift".
Al Basha added "the complex was established based on the company's wide vision which starts with the large spaces and designs of the factories to the production lines. the labor work whom we have taken into our consideration to invest into, especially those courageous youth who are willing to grab the chance to work closely with the foreign experts and gain their international expertise in the high end factories; leading to the strong partners who will have a large influence in the success of the project and its continuation as required".
NIIC and its trial production are expected to start during the course of next month; this will be after the completion of the production lines in all the factories and the import of all the needed raw materials. The factories will be running under the complete production concept (CKD) where as to reach 95% of the manufacturing of the Air Conditioning, Refrigerators and washing machines to be done inside the complexes factory.
It is worth mentioning that, NIIC's yearly sales volume is estimated at around 300 million US dollars, 95% of which is exported outside of Jordan; leading to an increase in the Jordanian export volume and the growth of its Economy.
This manufacturing concept is meant to improve the efficiency of the capital expenditure, cost reduction, import time reduction and any other expenses. The NIIC is expected to launch a number of its registered commercial brands which cover all its products. This will determine the easy penetration of the Middle Eastern and North African markets.
The complex was able to establish the demands and consumer needs of these markets, through market field studies prepared by our team of professionals; this will be reflected on the specification of the electrical and electronic products exported to these countries.
