Fujairah-based construction materials producer Oryx Industries has signed in Doha a new takeoff agreement with Qatar-based Al Hodaifi Rocks for the import, transport, storage, and delivery of building materials.
Under the agreement, Oryx Industries will supply Al Hodaifi Rocks with 2.6mn tonnes of quarry products over the course of one year commencing from the signing date. Building materials will be delivered to Qatar through the Port of Fujairah.
As the second largest global importer for gabbro products in 2013, Qatar currently accounts for almost 90% of the UAE’s gabbro exports. Furthermore, the government has recently removed the importing limits of 150,000 tonnes per company allowing Qatari businesses to import even greater levels of construction materials.
Al Hodaifi Rocks, which has a rising capacity of materials-handling operations in the Qatari market, has been a key building material trader supplying materials needed by Qatar’s construction industry since 2006.
Central to the construction sector boom in Qatar is the upcoming 2022 FIFA World Cup, which will see the country spending more than $312bn on projects ahead of the tournament.
At least eight new sports stadiums are planned, many of which are currently under construction and many more existing stadiums are planned to be refurbished ahead of the opening.
Raw materials needed to accomplish the upcoming World Cup projects are expected to rise sharply, with a doubling of aggregate requirements in the next three years, increasing further as more projects get underway.
In addition to the construction of sporting projects is the infrastructural development required to host an estimated 3.7mn tourist arrivals, which is expected to receive $65bn to $200bn in government investment across tourism, leisure and hospitality sectors, in addition to associated projects such as roads and walkways to supply the added tourism demand.
Oryx Industries vice chairman and Group CEO Majdi Khalaf said, “Our mission has always been to become the regional leader in building materials production, trading, and bulk transport logistic services. We expect to play an important role in laying the foundations for many of the large-scale real estate and infrastructure projects anticipated throughout the GCC in the coming years.”
Khalaf noted that supplying raw materials for big-ticket projects would rely heavily on the development of strong relationships and agreements with local suppliers of construction aggregate.
Al Hodaifi Rocks managing director Saoud Ghandour said, “With the current strong pipeline of construction projects in Qatar, Al Hodaifi Rocks is seeking strong partnerships to secure its escalating needs for building materials.”