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Fox Marble Holdings PLC

Fox Marble Holdings PLC Biggest single order for temple in Abu Dhabi

Chris Gilbert, CEO, commented:

“We are privileged to be in partnership with the Swaminarayan religious order who have built over 1000 temples around the world. This temple will be the first such place of worship in the UAE and will be a monument for many generations to come. “ 

 

Fox Marble Holdings PLC (LON:FOX), the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region, today announced the confirmation of its biggest single order for its prized Alexandrian White marble. This order has been placed by the Swaminarayan Hindu religious order who are building a temple in Abu Dhabi on land donated by the Royal family of the UAE. Construction of this monument will commence shortly now that the Foundation ceremony has taken place on the 20 April 2019.

Fox Marble will be providing bespoke cut to size marble varying in size from small blocks to large beams which will be shipped by the temple to India to be hand carved and shipped to the temple site and has received the schedule for the first shipment to be shaped and sent to India.

Fox Marble has received a minimum firm commitment for this material to be supplied during 2019 and 2020. The minimum value of this order will be $2.4m and Fox has received the first good faith deposit of $100,000 by way of confirmation.

The final timing of the delivery of this material will be subject to the construction schedule of the temple which is subject to change.  Further announcements will be made in due course as to the progress of this project as material is actually shipped and paid for.

The marble that Fox is supplying is the same type that was used in the construction of the Sheik Zayad Grand Mosque in Abu Dhabi extracted from the neighbouring quarry in Prilep and reflects the enduring appeal of this material.

 

Brahmavihari Swami commented:

We have been working hard to establish the BAPS Hindu Mandir temple in Abu Dhabi which is an iconic and historic temple which is a spiritual oasis of global harmony.

While every acre and inch is being designed elegantly and meaningfully, the heart of the entire project will be done in your beautiful white marble.

The entire interior of the stone temple will be intricately sculpted from your Alexandrian White and is the epicentre for our temple”

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.