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Aldar sets up joint venture concrete firm
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Aldar Properties said on Saturday it set up a company with concrete producer Readymix Abu Dhabi Ltd to provide supplies to its development projects. Aldar Readymix will allow Aldar to receive high-quality concrete for its projects, including Al Raha Beach development, it said in a statement. It did not give the value of the joint venture. Aldar Readymix plans to reach a total production capacity of more than 15,000 cubic metres per day by the end of 2008, adding to Al Raha Beach's four on-site concrete batching plants with a production output of 6,000 cubic metres, it added. "This alliance has many benefits for both parties including creating a secure and proper supply chain, which will allow Aldar Properties to get all its requirements on time, and remain on schedule throughout their projects," Youssef El Hage, general manager of Aldar Readymix, said in the statement.
UAE suppliers of ready-mixed concrete are struggling to keep up with demand with the risk that construction projects may be delayed further, Emirates Business reported earlier this month. (Reuters) |