Arkan Building Material (ARKAN) shares have had some good days in the past couple of weeks, standing out with some big gains when everything else has been tumbling, and if they looked expensive before the market crashed in the past few months, their share price now looks stratospheric compared to almost anything else. I can't find anything that might explain recent gaines though. There was this report in the KT a couple of weeks ago but I don't think there's anything new in this article that wasn't already known by the market.
Khaleej Times 10 December 2008:
Industrial Park Being Set up in Al Ain
ABU DHABI - An Industrial Park is being developed in Al Ain, on 15-square kilometers area, where at least 40 medium to large size industrial units will be setup to manufacture construction materials.
“Once completed, the park will have an integrated complex of building materials factories and associated support infrastructure. We will have a ‘one-stop shop’ for construction-related materials and equipment,” said Dr Jeremy Rowson, Arkan’s Chief Operating Officer, told Khaleej Times in an interview.
The project is being built by Arkan Building Materials Company (ARKAN), a subsidiary of Government-owned General Holding Corporation (GHC). This project, which started last June with the commencement of the construction of a new cement factory, will open new avenues of industrial activity in Abu Dhabi, said Dr Jeremy Rowson.
Arkan is an industrial investment company, which focuses on the building materials sector. Government owns 51 per cent shares in the company, while the UAE nationals hold remaining 49 per cent.
As demand in the domestic market is growing at a fast pace, these substantial industrial projects will not only substitute high priced imported building materials but also it will build on the UAE’s ambitions to attract new technology and diversify its economic base. Over Dh15 billion worth of imports could be substituted over the next few years from manufacturing operations on the new park.
The Abu Dhabi-based company has identified around 70 different construction materials, which could be manufactured in the Industrial Park.
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
Disclaimer: Investing in stocks is risky, you can lose some or all of your money and/or other assets. Anything you read on this site should be regarded as the opinion of the author only and is not to be taken as advice to buy, sell, or hold stocks and/or any other investments. Seek professional advice and do your due diligence before making investment decisions. In particular, do not assume anything you read on this site is correct or accurate. You should accept that only you can be responsible for any investing decisions you make.
2008 FY
FAQ
Search
Print-friendly
Profile
Private messages
Register
Log in
