Business & Money | Thursday 2 June, 2016 6:00 am |

Petra Engineering Industries, the leading 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 square meters. Petra Engineering Industries already sends 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, Managing Director 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 is a global leader in the manufacture of air conditioning and cooling equipment. Petra commenced operations in KAEC Industrial Valley in 2013 with a 25,000 square meter plot. Within a year of launch the company began to expand operations and leased an additional 15,000 square-meter plot to expand its manufacturing facility.

The company’s operations at KAEC include production processes, assembly lines, storage tanks, administrative buildings and advanced research and development labs. Petra’s plant specializes in designing and producing high quality air conditioning equipment to meet commercial, industrial and residential needs. The plant also produces standard cooling units, water-cooling units, central and independent air conditioning units and central control units for computer rooms.

“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 Eng. Samer Hamid, General Director of Petra Engineering Industries’ Saudi plant. “The fertile environment provided for investors in KAEC is a key motivator for us to proceed with our expansion plans.”