Petra expands KAEC factory

PETRA

Petra Engineering Industries, a major producer of high quality refrigeration and HVAC equipment and one of the largest investors in KAEC, is expanding its recently opened manufacturing plant in the Industrial Valley to increase production capacity and accelerate exports to new markets including Europe and America.
The 15,000 sqm expansion is the second phase of plans commenced in 2014 and brings Petra’s total footprint in KAEC’s Industrial Valley to more than 40,000 sqm. Petra Engineering Industries is already sending shipments from KAEC to Africa and was the first company to export products manufactured in the city.
“Petra Engineering Industries’ expansion is a clear endorsement of the ideal investment environment offered by KAEC,” said Fahd Al-Rasheed, MD and group CEO of King Abdullah Economic City. “Investors are drawn to the city by the world-class infrastructure, modern facilities and user-friendly services that make KAEC the ideal location to live and work.”
Petra Engineering Industries, a global leader in the manufacture of air conditioning and cooling equipment, commenced operations in KAEC Industrial Valley in 2013 with a 25,000 sqm plot. Within a year of launch, the company began to expand operations and leased an additional 15,000 sqm plot to expand its manufacturing facility.
“The Industrial Valley’s immediate proximity to King Abdullah Port facilitates the export of Petra’s products and increases our access to the European and North American markets,” said Samer Hamid, general director of Petra Engineering Industries’ Saudi plant.
“The investment opportunities offered by the Industrial Valley have enabled it to become a strategic center for expansion in the area,” said Rayan Qutub, CEO of the Industrial Valley at KAEC. “We are continuing to meet the growing demand for industrial plots and are developing the Industrial Valley into a significant regional hub for industrial and logistical services.”