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Facts Update. A Lot of Business Opportunities in the Saudi Market for Those Who Know Their Trade. | Güngör URAS Milliyet 06.02.2009

Dr. Talat Ekşioğlu, the General Secretary at the Saudi Arabian and Turkish Council, works at “Geotech Group.” The Turkish company he has been working at for the last seven years in Riyadh does urban planning. He has said that big capital groups other than contracting companies have not shown any interest in Saudi Arabia while mentioning the fact that the biggest investment has been realized by Ülker, and that the venture by Nurol for the modernization of the military vehicles and equipment is an important one. In a speech he made over dinner, President Gül warned the Turkish businessmen that the Saudi Arabian market was a huge and rich Market and that Turkish exporters did not show the expected interest in this nearby market, and furthermore, that Saudi Arabia has revealed a USD214 billion investment budget for a two-year period, mainly composed of infrastructure investments while stressing the fact that our contractors were not showing the overdue interest. Later, he addressed the Saudi businessmen. He told them that they had an affinity with Turkey and the Turkish people, and that they should cooperate and realize joint projects in their country and Turkey. Mr. Gül visited FNSS Defense Systems facilities at El Hare industrial zone, some 100 kms from Riyadh. Here, the Nurol Group is modernizing old M113 armored vehicles for the Saudi Arabian Ground Forces. The Nurol Group started working on this project in 2004. In the beginning, a total of 64 vehicles were modernized. And currently, 300 vehicles are being modernized. When this USD210 million project has been completed, a new modernization package for 300 vehicles is also expected to be given to Nurol.

Nurol keeps up the good work

Brand new M113 armored vehicles worth approximately USD2 millions a piece. These vehicles carry 10 people. If requested, different weapons, communication tools and equipment are also mounted. During modernizing, old vehicles are totally dismantled. Then the main trunk is completely covered with an armored bullet-proof and mine resistant material. Engines are replaced and made more powerful, and, if requested, different weapons and equipment can be mounted. Tracks are modernized. The people inside these vehicles used for hauling military personnel in battle fields and hostile terrain are not affected by mines laid in the roads and armed attacks. We have been told that there are different work opportunities in Saudi Arabia similar to those carried out by Nurol Group. It was particularly mentioned that if the Turkish companies showed interest in the upgrading/modernization of the Saudi army’s countless vehicles and equipment, it is possible to get a big chunk of this market. Simply put, there is lots of work to do and lots of goods to sell by the Turkish companies in Saudi Arabia. But, it is just impossible to get to know the market and assess the opportunities by simply going to Saudi Arabia for one time and walking around for two or three days.

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