A major joint venture between the KSB of Germany and Saudi Arabia's Abunayyan Groups (KSB Pumps Arabia Ltd.) has unveiled plans to expand its manufacturing facility in Riyadh. The announcement came during the visit of German Federal Minister of Economics and Technology Philipp Rosler to the KSB manufacturing facility in Riyadh, according to the Saudi daily (Arab News). Minister Rosler, who toured the KSB manufacturing facilities in the Second Industrial Area of Riyadh, said "KSB Pumps Arabia is the successful model of Saudi-German cooperation." The German minister also highlighted the growing relations between Riyadh and Berlin. He praised the Kingdom for its role in supporting the Eurozone with its pledge of $15 billion to the International Monetary Fund (IMF) to help stabilize the global economy. Rosler was accompanied by a large delegation including Dieter W. Haller, German ambassador. Referring to KSB Pumps Arabia’s expansion, KSB Pumps Arabia’s CEO Robert Aramouni said that "the modernization and expansion would see millions of dollars of investment and would be completed within a year from now." The new development, coupled with a number of additional infrastructure changes will allow significant growth in manufacturing capacity, he added. He said the decision to expand the plant follows record sales across the market as the company continues to increase its sales network. KSB Pumps Arabia is a highly successful Saudi-German venture, which designs, manufactures, distribute and service pump assemblies and complete pressure booster systems to German quality standards, he added, while predicting a turnover of 55 million euros within a couple of years. Aramouni pointed out that the pump systems are primarily used in water supply and waste water disposal, fire protection, chillers, drainage and seawater desalination. KSB, on the other hand, is a leading international manufacturer of pumps, valves and related systems based in Frankenthal in Germany. The KSB Group has a presence on all five continents with its own sale and marketing organizations, manufacturing facilities and service operations. In 2011, almost 16,000 employees generated sales revenue of more than two billion euros.