Crane manufacturer Wolffkran has into entered a joint venture (JV) with Zamil Group to develop a WOLFF crane manufacturing facility in Riyadh, Saudi Arabia.
The JV will also build a rental fleet comprising 300 WOLFF cranes.
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The signing of the contract took place at the Private Sector Forum 2024.
Zamil, with its experience in construction, real estate, and steel construction, says it brings local expertise to the JV.
Wolffkran CEO Duncan Salt said: “Saudi Arabia is currently experiencing a construction boom and we are proud to be pioneering this dynamic market with local tower crane production.”
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Once operational, the facility is said to become the first of its kind in the Middle East.
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By GlobalDataIt is expected to produce approximately 150 luffing jib and trolley cranes annually, catering to the markets within the Middle East and North Africa region.
The JV partners are currently in the process of selecting a suitable location for the production facility.
Wolffkran and Zamil Group also plan to invest about SR1bn ($270m) in their newly established JV.
Wolffkran’s initiatives in Saudi Arabia are claimed to align with Saudi Vision 2030, which aims to transform the country’s economy via economic diversification by 2030.
The JV announcement comes after construction company Riedel Bau deployed eight WOLFF cranes for the construction of a site in Jena, Thuringia, Germany, last December.
