Hertz Dayim Equipment Rental To Launch In Doha, Qatar, Where $182Bn Investment On Public Projects Is Planned Over Next Five Years
Nov 17, 2014
NAPLES, Fla., Nov. 17, 2014 /PRNewswire/ -- The Hertz Corporation (NYSE:HTZ) has announced that Hertz Dayim Equipment Rental plans to launch operations in Qatar as part of a joint venture agreement between Hertz Equipment Rental Corporation, Dayim Holdings Inc and Phoenix Project Development WLL of the Al-Attiyah Motors & Trading Group. Following the success of its four year partnership in Saudi Arabia, Hertz-Dayim will now in addition rent and sell equipment and tools to construction and industrial markets throughout Qatar.
Hertz Dayim Equipment Rental plans to open its first Qatar location in Doha. The city is expected to attract huge spending in construction and infrastructure to support its staging of the FIFA World Cup in 2022. The Gulf State announced earlier this year that it plans to invest $182Bn on public projects over the next five years in the run up to the world's largest sporting event.
Hertz-Dayim's equipment rental services are designed for diverse projects including stadium building, metro, ports, rail, roads, drainage systems, and expressways in addition to hydro carbon based and petrochemicals projects. The company works closely with building, construction and oil and gas firms as well as contractors working within those environments.
Hertz-Dayim's portfolio includes equipment for earth moving, aerial, material handling, power, electrical, and compressor requirements. The company also offers its clients comprehensive fleet management services as well as safe operation equipment training.
Phoenix Project Development WLL will provide Hertz-Dayim with a variety of services to help grow the business. This will include contacts with various local and international companies and corporations to give the equipment rental provider a sound base for operating in the State of Qatar.
"With Qatar's planned infrastructure megaprojects over the next five years, Hertz Dayim Equipment Rental is well positioned for expansion into the Gulf State," said Francis J. Early, International Vice President, Hertz Equipment Rental Corporation. "Hertz-Dayim's aim is to provide first class, value-added equipment rental solutions to the country's construction and infrastructure development industry."
Chairman of Hertz-Dayim Equipment Rental, HRH Prince Khalid bin Bandar bin Sultan, added: "Regional expansion is a major strategic objective for Hertz-Dayim Equipment Rental and I believe that Qatar is the right place to begin this expansion. Infrastructure and construction sectors in Qatar are expected to see massive growth because of the FIFA World Cup in 2022, leading to heavy demand for construction equipment and related services. Regional presence will give scale to our business, as well as the flexibility to move fleet across different Gulf Corporation Council (GCC) markets. We are confident that we will replicate the success of the Saudi business across the GCC and this is just the first step in that direction."
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SOURCE The Hertz Corporation