Gulf General Investment Company (GGICO), a Dubai-based investment company, has launched a new arm in Sharjah, Horizon Energy Company, for the trading of bitumen and manufacturing and sale of other value-added bitumen products.
The project will incorporate a 10,550 square metre plant in Khalid Port and have an installed storage capacity of 16,000 tonnes.
Added value products to be manufactured include cut back, oxidised bitumen, primer and membrane, which can be used for road surfacing and roofing felt.
The first raw materials have already been imported from Bahrain via pipeline. GGICO Deputy Managing Director Mohamed Ali Al Sari said the company is expecting an annual turnover of Dh400 million during its first year.
"We are proud to have this company in our portfolio and are looking to expand our services outside the UAE," he says.
"Horizon Energy utilises the latest in cutting edge technology with a focus on quality which ensures demand for our product." GGICO has highly diversified business activities.
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