May 06, 2024 (MENAFN via COMTEX) --
(MENAFN - Jordan News Agency)
Aqaba, May 5 (Petra) -- President of the Aqaba Special Economic Zone Authority (ASEZA), Nayef Fayez, received on Sunday, Mumtaz Daaboul, CEO of Orbit Aluminum Industries, one of the largest manufacturers of
aluminum rolling mills in Aqaba.
During the meeting, which was attended by members of the ASEZA Board of Directors and Commissioners, Fayez and Daaboul discussed aspects of investment and employment in the company.
Fayez emphasized the importance of focusing on strategic projects in all economic activities in Aqaba, which contribute to supporting the national economy and encouraging major companies to benefit from the advantages offered by ASEZA , and bring various industries that support external and internal export operations and provide new local job opportunities.
He pointed out the ASEZA's keenness to support such projects to create a comprehensive investment environment in the industrial sector, which is one of the main strategic pillars for Aqaba to remain a regional logistical, industrial and tourism hub.
For his part, Daaboul referred to the new expansion of his company's factory in two phases, at a cost of about $120 million, and aims to manufacture
aluminum rolls by recycling them, which is the main material, and the expansion will provide about 400 new job opportunities, which will start production before the end of this year.
He noted that the new expansion will increase the factory's production capacity to about 30,000 tons of rolls, where the volume of exports from the factory is about $100 million, mostly to the American, European and Canadian markets, pointing out that the coil factory is the first in the Middle East region.
He added that the company aims to cooperate with NGOs to train graduates from universities and institutes to build their expertise and better opportunities for them.
The Orbit Aluminum Industries was established in 2016 in Aqaba International Industrial Zone with an investment of $120 million and is one of the leading companies in the region in the production of industrial plating and painted
aluminum coils. Orbit currently employs 170 employees, 70% of whom are local workers, and exports 98% of the production capacity, which contributes to supporting the national economy and allows the establishment of many complementary industries with added value.
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