Wolffkran, the leading crane manufacturer, has partnered with the Zamil Group, a major Saudi investment holding company.
Agreed in early February in Riyadh, this joint venture aims to establish a WOLFF crane manufacturing facility in Saudi Arabia and amass a rental fleet of 300 cranes,ccc.
Duncan Salt, CEO of Wolffkran Holding AG, expressed pride in leading the way in Saudi Arabia’s dynamic construction sector, citing the current construction boom as a prime opportunity for local production. Dr. Peter Schiefer, owner and Wolffkran Board member, lauded the synergy the partnership with Zamil Group, known for its strong local presence and expertise in construction, real estate, and steel construction, promises.
“Saudi Arabia is currently experiencing a construction boom and we are proud to be pioneering this dynamic market with local tower crane production,” said Duncan Salt, CEO of Wolffkran Holding AG, at the signing of the contract at the Private Sector Forum 2024 in Riyadh.
“In the Zamil Group, we have found a strong partner for this project,” said Dr. Peter Schiefer, owner and member of the Board of Directors of Wolffkran Holding AG. “A partnership that will create many synergy effects.”
The long-established family business based in Khobar not only has an excellent local network, but also has many years of experience in the construction, real estate, and steel construction sectors. With the tower crane division, the company is adding another line of business to its broad portfolio.
The two partners are currently looking for a suitable location for the state-of-the-art production facility, which will produce around 150 luffing jib and trolley cranes per year exclusively for the MENA region.
“We will continue to manufacture for our core markets in Europe and the USA at our two established sites in Germany. The new production facility will operate completely independently of the Ger man sites,”
In addition to the production of WOLFF cranes, Wolffkran will establish a rental fleet of around 300 tower cranes in Saudi Arabia as part of the joint venture.
“We have already received numerous inquiries from local construction companies for major projects,” said Dr. Mohamed Abouelezz, Head of Business Development and Product Management at Wolffkran GmbH. “Whether Riyadh in the center, Dammam in the east, or the newly emerging Neom region in the northwest, the order books in the entire region are full and the first rental cranes are already on their way by ship and will be ready for use in a few weeks.”
Dr. Mohamed Abouelezz, Head of Business Development and Product Management at Wolffkran GmbH, highlighted the widespread demand across the region, from Riyadh to the Neom area, with the rental fleet poised to support major projects soon.
“We have already received numerous inquiries from local construction companies for major projects,” says Dr. Mohamed Abouelezz, Head of Business Development and Product Management at Wolffkran GmbH.
“Whether Riyadh in the center, Dammam in the east, or the newly emerging Neom region in the northwest, the order books in the entire region are full and the first rental cranes are already on their way by ship and will be ready for use in a few weeks.”
This strategic expansion complements Wolffkran’s ongoing contributions to key Saudi projects since 2009 and aligns with the Saudi Vision 2030 for economic and social development, supported by the state’s Private Investment Fund. With an investment of approximately one billion Saudi riyals (about 250 million euros), Wolffkran and Zamil Group’s venture is set to redefine the construction landscape in Saudi Arabia, bringing German manufacturing excellence to the local market.
