Financial Daily from THE HINDU group of publications
Friday, Sep 17, 2004
Financial Daily from THE HINDU group of publications Friday, Sep 17, 2004 |
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Corporate
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Announcements Saudi co to sell water-proofing material in India Our Bureau
Bangalore , Sept. 16 WITH the Indian construction industry adopting new technologies at early stages of projects, a leading Saudi Arabian company has focused on Indian for stepping up efforts to market bitumen-based water proofing material. The company, which had exported $1-million worth bitumen membrane, had so far been targeting major projects. Mr S.J. Agha, General Sales Manager (Exports), Bitumat Company Ltd, said initially India was a tough market as it was rooted in its traditional products and practices for water proofing. "However, we see the usage of modern materials increasing to 20 to 30 per cent from a mere seven per cent currently. Bitumen membrane itself is a new product and it is a continuous monolithic waterproof coating, which was rugged, resistant and durable. It had complete adhesion to the substrate, said Mr Agha. Bitumat, is part of the leading financial institution, Gulf Investment Corporation (GIC), owned by the Gulf Coordination Countries (GCC). It focuses on principal investments in GCC projects and ventures in addition to its role as a promoter of Gulf investment products and services.
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