Toray, Abunayyan in $80mn joint venture
Firm to focus on water and wastewater treatment technologies in Dammam
Saudi Arabia's Abunayyan Holding and Japan's Toray Industries have formed a joint venture Toray Membrane Middle East (TMME). The new compnay will focus on water and wastewater treatment technologies in Dammam, Saudi Arabia.
TMME, established with projected investment over US $80mn with investments from Toray’s subsidiary Toray Membrane Europe AG, will manufacture and sell water treatment membranes in addition to providing technical services.
TMME plans to newly construct a world scale production factory by applying Toray’s production technology and Toray’s global quality control standards.
The factory will be located in Dammam 3rd Industrial City in the Kingdom of Saudi Arabia, and will begin production of reverse osmosis (RO) membrane elements beginning in 2015. By adding Saudi Arabia (TMME) to its current operational manufacturing bases in Japan (Toray Ehime Plant), California (Toray Membrane USA) and Beijing (Toray Blue Star Membrane), Toray will have four manufacturing bases for the RO membrane elements.
The agreement was signed in the presence of Crown Prince of Saudi Arabia Salman bin Abdulaziz and Prime Minister of Japan Shinzō Abe.