Saudi Group to Invest in Carpet Backing Facility i
Jeddah, Saudi Arabia, June 30—The Mattex International Group, which is based in Jeddah, has announced a lease agreement with Dubai Techno Park for the occupation of 1,000,000 sq ft of land with a total investment of Dh4 00 million starting an immediate first phase investment of some Dh 250 million in setting up two businesses on the newly acquired land at Techno Park.
The Saudi Economic survey reported that the agreement was concluded by Abdullah Al Qurashi, Chief Executive Officer of Technopark and Ahmed Al Rajhi representing the Mattex International Group. The well-reputed Saudi families, Al Rajhi and Al Sorayai own the majority of the Mattex International Group.
According to a press release, Mattex Fabrics are one of the world's market leaders in the production and supply of base fabrics for the production of indoor and outdoor carpets, and supply a customer base spread over all continents worldwide.
Since their establishment in 1995, they have been growing substantially each year, based on their innovative products. Marc Verleyen of Belgium, Managing Director indicates that the plan is for 2005 / 2006 to produce and market over 250 million sq. meters of carpet backing materials. The fabrics are produced on the latest available machine technology and of absolute top quality.
