MANAMA, 9 June 2008 — Bahrain-based Capivest Bank has announced the launch of a multimillion dollar company specialized in transportation, earth movement and the heavy equipment industry in Qatar.
This joint venture founded by Capivest and its partners in Qatar, Ali Iskandar Al-Ansari and Sons Company and Shaikh Mohammed Bin Suhaim Al-Thani, is expected to become one of the leading capitalized transportation and earth movement services companies in Qatar.
The private shareholding company, AIAP Qatar, will focus on three major areas of business: transportation of construction materials, the leasing of heavy equipment that will support major infrastructure projects in Qatar, and a full-fledge service center to cater to the heavy equipment fleet owned by the new company as well as to the fleet of other third-party companies. It is expected that AIAP Qatar will provide more flexible transportation and logistics infrastructure services, by facilitating the seamless movement of building materials from a growing number of source locations to the site of large-scale construction projects that are currently underway and planned in the pipeline in Qatar.