Saudi Guardian International Float Glass Co. Ltd. (Gulfguard), will obtain more than 80% of its raw materials locally, according to Mishal Oraier, project manager.
Oraier said the sourcing of domesti…
Saudi Guardian International Float Glass Co. Ltd. (Gulfguard), will obtain more than 80% of its raw materials locally, according to Mishal Oraier, project manager. Oraier said the sourcing of domestic raw materials will not only enhance the viability of the project but also promote local industries. He said less than 20% of the raw materials, like soda ash, will be imported. The project, expected to be completed in 1997, will employ a total of 240 skilled and semi-skilled manpower, 30% of whom will be Saudi nationals, according to Oraier. Gulfguard is a joint venture between National Company for Glass Industries (Zoujaj), which shares 45%, Guardian Ind. USA (Europe), 45%, and the Eastern Company for Industrial Investments, 10%. Gulfguard was capitalised at SR 122 million. Total investments in the project were SR 456 million. The project was financed by the Saudi Industrial Development Fund, which contributed SR 204 million and a consortium of commercial banks (SR 130 million). It will produce annually 131,400 tonnes of float glass. The US Guardian Company and its European subsidiary will provide the production technology. Local companies will execute various civil works, while the CRVC Group will undertake building construction and installation of equipment. Dr. Mahsoun B. Jalal has been named chairman of Gulfguard“s board of directors which is composed of seven members, three each from Zoujaj and Guardian and one from the Eastern Company.