RAK Ruler inaugurates third phase of armoured vehicle facility

n Under the patronage of HH Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, the Streit Group, the world’s leading, privately owned manufacturer of armoured vehicles, recently inaugurated Phase three of the world’s largest, privately owned, defence park for armoured vehicles at the Ras Al Khaimah Economic Zone (RAKEZ).

A two-day grand opening ceremony was held to celebrate 30 years of legacy. The Streit Group showed the largest array of defense manufacturing products, engaging activities, privileged previews, and unique demonstrations, a press statement noted.

The inauguration marks the completion of the third phase of expansion planned by Streit Group, and will be added to the armoured vehicle manufacturing facility which is already operational since 2006.

A successful completion of Phase Three was attained in 2022. The Streit Group’s workforce reached 1200 employees with the completion of Phase Three, rising to 2000 employees next year, with a total investment of AED 367mn (US$ 100mn), making this the largest facility of its kind in the Northern Emirates.

Streit Marine, the marine division of Streit Group, caters to the needs of militaries, special naval forces, NGOs, coastguards, and security companies around the globe, the press communique continued.

“Streit Group is an integral part of the RAKEZ ecosystem and we are proud to play a role in their remarkable journey,”said Ramy Jallad, CEO, RAKEZ.

Guerman Goutorov, Chairman and CEO, Streit Group, remarked 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.