SAN ANTONIO -- MDI, Inc., the leading provider of Unified Technology solutions for the security industry, today announced that it has entered into a joint venture agreement with Doha, Qatar based Almana Networks. The agreement establishes a joint venture between the two parties focused on providing unified physical and electronic security solutions, along with converged network infrastructures, to existing organizations and new construction projects in the rapidly growing country of Qatar.
The Almana Group is one of the largest business organizations in the country and is a significant contributor to its continued economic development and financial infrastructure. Its subsidiary business divisions include oil and natural gas, general contracting, steel production, transportation, retail, restaurants, information technology, financial services, real estate, engineering, HVAC systems, automobiles and marine services.
The new venture is currently finalizing negotiations on several security projects in Qatar, two of which it believes it will be awarded during the month of May. These multi-million dollar comprehensive projects include over one million dollars in products and services from MDI when finalized. They include securing new construction developments for a global leader in the petroleum and natural gas industry and securing regional holdings for one of the most prestigious hotel chains in the world.
"Almana Networks and MDI are both proven leaders in their respective countries," stated Swaraj Kumar, Chief Executive Officer of Almana Networks. "MDI's technology offerings and security expertise will play a critical role in the growth strategy for Almana Networks and I look forward to working with the MDI Team on this new venture to provide state-of-the-art automated security solutions via converged networks to our valued customers in Qatar," he added.
Among the wealthiest countries in the world, Qatar is experiencing phenomenal growth in both oil and non-oil related business sectors. Amid the current economic boom, commercial and industrial construction is at an all time high. In the city of Doha alone, there are currently over 50 hi-rise building sites under construction. The country is well on its way to becoming the world's top petrochemicals producer and is diversifying into many new industries including steel, concrete and aluminum production.
High economic and demographic growth and the changing international security environment have made Qatar more security-conscious. There has been a noticeable increase in the need for security products and services for both private and government establishments, thus the demand for best-in-class security solutions is at an all time high. Both are upgrading the capabilities of existing security systems as well as adding security to new projects in order to keep ahead of changing global security situations. Consumers across the Gulf States Region hold the security sector expertise of the United States in high regard.
The Joint Venture between MDI and Almana Networks was designed to provide customized solutions to the direct needs of Qatar. Together, the strength of the venture combines the following unique points:
- A deep understanding of the political and economic structure of Qatar and the Gulf States Region
- A global business network built on over forty years of business to business commerce across multiple market verticals