Qatari JV to manufacture LED lighting agreed [Construction Week (United Arab Emirates)]
(Construction Week (United Arab Emirates) Via Acquire Media NewsEdge) RELATED ARTICLES: ASCO launches joint venture | Johnson Controls, Hitachi announce joint venture | Speedy and Denholm pursue Kazakhstan joint venture
Alwaseeta has signed a joint venture agreement with the Qatar Korea LED Consortium (QKLC) for the establishment of a manufacturing facility for light-emitting diode (LED) lighting systems in Qatar.
The factory will occupy an area of 60,000m 2, and it will have an initial production capacity of 155,000 LED units per year.
Under the agreement, the two parties will set up the Qatar-Korea LED Project (Q-LED), an LED manufacturing facility that will be jointly owned by Alwaseeta with 75% interest and QKLC with 25% interest.
"Qatar is witnessing dynamic development and remarkable growth in various sectors, including the construction sector, which is witnessing a rapidly growing demand for LED lighting," said Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry and chairman of Alwaseeta.
"This agreement will aid Qatar's strategic approach to developing investment projects across a range of vital sectors.
"It will also help deliver explosion-proof LED lighting for the oil and gas industry, and special LED lighting for commercial use, such as for street and stadium lighting, traffic signals."
The project will be implemented in two phases, with the LED manufacturing plant to be built in the initial phase and scheduled for completion by 2016.
This will be followed by the second phase, which will involve installing LED chip packaging, establishing a research and development centre, and a demonstration area.
The project's final phase is expected to be completed by 2018.
Alwaseeta is a subsidiary of Qatar Petroleum and is primarily involved in the development of a broad range of intermediate and downstream industrial projects.
QKLC is made up of Korean LED companies and governmental institutes, such as the Korea Photonics Technology Institute and Korea Association for Photonics Industry Development.
(c) 2014 ITP Business Publishing Ltd. All Rights Reserved. Provided by Syndigate.info, an Albawaba.com company
[ Back To Technology News's Homepage ]