FINANCIAL NEWS

Al-Sayer inaugurates project in Turkey

09 Nov 2010

(MENAFN) Al-Sayer Automobile Dealers Group inaugurated a Kuwaiti investment project for establishing a plant specialized in producing installation equipment on an area exceeding 25,000 square meters in Turkey, Kuna reported.

The plant, specialized in producing building and construction materials and installation equipment, is fully owned by the Cimex international which is an affiliate of Al-Sayer Group and it is the first Kuwaiti project established in Turkey.

The opening ceremony was attended by Turkish Minister of Industry and Trade Nihat Ergun, dean of of diplomatic corps in Turkey, the Kuwaiti ambassador in Ankara Abdullah Al-Thuwaikh, Al-Sayer Group Chairman Nasser Mohammad Al-Sayer and number of the members of the group’s board as well as Aksaray’s governor and other Turkish officials.

Minister Ergun said in his address before the ceremony that this project is a fundamental addition to the Kuwaiti investment in Turkey that is mostly focused on the banking and retail sales, calling on diversifying such investment in order to include other vital sectors like industry.

The Turkish minister also expressed hope that Simex International plant in Turkey will attract more Kuwaiti investment in the industrial sector as it is one the fastest growing economic sectors in the country along with its guaranteed investment revenues.

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