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Streit completes RAK armoured vehicle unit expansion

March 3, 2023
real estate

Streit Group recently celebrated the completion of the third phase expansion of its armoured vehicle manufacturing facility in Ras Al Khaimah with an investment of Dh367 million ($100 million), making the facility the largest of its kind in the northern Emirates.

An inauguration ceremony was held under the patronage of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.

Streit Group is the world’s largest privately owned manufacturer of armoured vehicles and is based in the defence park for armoured vehicles at the Ras Al Khaimah Economic Zone (Rakez)

RAK Ruler inaugurated the new plant during a two-day grand opening ceremony, held on February 25 and 26.

The successful completion of Phase Three of the project was achieved in 2022. With it the Streit Group's workforce reached 1,200. It will rise to 2,000 employees next year.

The company also opened a number of new facilities, including one of the largest showrooms in the Middle East, the Streit marine division, Steel Service Solutions, Nano Fire Protection Technology (NFPT), Shooting Lab, Advance Integrated Technologies, and SSV.

NFPT, a highly-anticipated line, is expected to garner interest for its fire suppression and defense asset protection capabilities, said a statement.

The SSS (Steel Service Solutions) factory is equipped with the latest European technologies for the laser cutting of steel and in accordance with the highest international standards. It now has the largest CNC laser cutting facility in the UAE and will offer the most comprehensive machining solutions at its state-of-the-art Machine Shop.

Streit Marine, the marine division of Streit Group, is catering to the needs of militaries, special naval forces, NGOs, coastguards, and security companies around the globe.

Rakez Group CEO Ramy Jallad said: 'Congratulations to Streit Group for their outstanding achievements. Their success story is an inspiration for the entire business community and we have had the pleasure of witnessing their growth over the years.”

He added: “Streit Group is an integral part of the Rakez ecosystem and we are proud to play a role in their remarkable journey. Since its entry to Ras Al Khaimah in 2006, Streit Group has grown by many folds, which is a testament to our collaboration and long-term partnership through the support extended to the company, from facility expansions to the launch of their new operations in the emirate. We look forward to working with Streit Group for many more years to come.'

Guerman Goutorov, Chairman and CEO of Streit Group, said that the opening of Phase Three of the armoured vehicle facility is a new step in the group's strategy to expand its investments in the UAE and worldwide. This will be followed by other initiatives in the near future.

He further stated that industry-leading technological advancements and processes will be implemented at the new facility, including automated and efficient systems. We will reveal brand-new technology accessories, emerging innovations, as a result of latest partnerships and collaborations.

He pointed out that each new product is focused on increasing the efficiency of critical security initiatives, supporting decision-makers as they coordinate key missions, predicting the future needs of global security leaders, and most importantly, saving lives in at-risk regions around the world.