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His Highness Sheikh Saud Bin Saqr Al Qasimi, Member of the UAE Supreme Council and Ruler of Ras Al Khaimah, has inaugurated the world's largest privately-owned armoured vehicle facility at Ras Al Khaimah in the United Arab Emirates (UAE)
The new facility, owned by Streit Group (SG) - one of the world's largest armoured vehicle manufacturers - is located at the Technology Park of Ras Al Khaimah Free Trade Zone (RAK FTZ), one of the fastest-growing and most cost-effective free trade zones in the UAE.
SG's expansion plan is divided into three consecutive phases, of which the main production facility, occupying 1.4million sq feet, has been completed at a cost over AED 80 million - making it one of the biggest investments of its kind at RAK FTZ. SG, which has been operating from RAK FTZ since 2005, started with a 1,615 square feet (150 square metre) warehouse facility at Technology Park, and today, has grown to develop the world's largest armoured vehicle facility.
Part of the Phase I of the development, the new facility boasts a state-of-the-art design and houses full range amenities for research and development, manufacturing, testing, training, and storage of the armoured vehicles in a single complex.
Phases II and III of the project, estimated at over AED 120 million cumulatively, will include a glass factory, pre-fabrication facilities, expansion of the employee accommodation facility, fuelling stations, helipad, and support manufacturing. These facilities are expected to be completed by 2014.
HH Sheikh Saud said: "To have the world's largest privately-owned armoured vehicle facility is an achievement for the UAE and Ras Al Khaimah. We have always believed in putting our best efforts towards supporting our local economy, by attracting big businesses and investments to the UAE and we are happy to have this facility of Streit Group here at RAK FTZ. We wish to extend our congratulations to Streit Group for their expansion and completion of this new facility, and wish them all the success."
The new facility, can produce and test 40 different models of armoured vehicles for commercial, semi-military and military use, has a total capacity to manufacture 250 armoured vehicles per month under normal loads. The production capacity can be raised to 400 units, when required.