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PVaxx eyes Oman for pallet plant.
(From Gulf Construction)
Muscat Bermuda-headquartered PVaxx Industries made two significant announcements early last month, which will boost the position of the manufacturer of shipping pallets further in the region. Coinciding with the company's decision to set up a manufacturing facility at Sohar Port, it has concluded Letters of Intent (LoI) worth $300 million with regional and international shipping pallet buyers including those from Saudi Arabia and Northern Europe
The recent agreement with Sohar Industrial Port Company (SIPC) states that PVaxx will build, own and operate a manufacturing facility in the Port of Sohar. It has also signed a lump sum turnkey contract with Inma, a subsidiary of Saudconsult, the oldest civil engineering company in Saudi Arabia, for the project's development
According to the agreement, Inma will take charge of the planning and construction of the Sohar facility. The Sohar manufacturing facility will be capable of producing 150 million Siluma shipping pallets per year in its initial phase of output. Siluma ...
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