Move to build plant in KAEC comes as part of Petra’s expansion plans within Saudi market
The Jordanian HVAC equipment manufacturer, Petra Engineering Industrial Company has signed an agreement with Saudi Arabia’s King Abdullah Economic City (KAEC) to lease an additional land with an area of 45,552 m2 within the ‘Phase 1B’ in KAEC’s industrial valley project.
The move comes as part of Petra’s expansion plans within the Saudi market, said the general manager of Petra Engineering, Samir Hamed.
The deal comes one year after the previous contract between the two parties which entailed leasing a 25,204 m2 land at ‘Phase 1A’ in the industrial valley to build an air conditioning and refrigeration factory with an investment of $8m.
The factory specialises in producing different types of air-conditioning and refrigeration equipment to meet the growing market demand.