New 11,500sqm facility will feature over 3,000sqm of production and warehousing space
Al Rashed Peikko has announced that it has begun building a new factory and warehouse on an industrial plot in Ras Al Khaimah. The company, which is a JV between Peikko Group Corporation and Rashed Abdul Rahman Al Rashed & Sons Group is investing $4.7m into the project.
The firm says that the land leasing agreement for the plot was signed in October last year and notes that its current factory and warehouse is located in close proximity to the new plot. The new 11,500sqm facility will feature over 3,000sqm of production and warehousing space and will boast modern office facilities.
“Operating in the Gulf region from the strategically important location of Ras Al Khaimah has been an excellent choice for Peikko. The new factory will enable large-scale production required for the massive projects in the area, such as Sharjah Waterfront City in the UAE and a Ministry of Interior housing project in Saudi Arabia. Local presence is crucial in order to fulfil our customers’ tight delivery schedules,” said Peikko Group Corporation CEO Topi Paananen.
According to a statement from the firm, the new facilities are expected to come online in Q1, 2019. The company also said that the project was driven by the growth it has experienced in the past few years.
“The factory will use the latest technology and automation in order to enhance connection item and Deltabeam Slim Floor Structure production capacity and strengthen manufacturing with an optimal layout for increased operations and possibility for future expansion,”he added.