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THE ECONOMY - INDUSTRY

Palm District Cooling plans to raise Dh12.84b in five years

Posted on 26/10/2006

Palm District Cooling (PDC), one of the region's fastest growing district cooling company, plans to raise over Dh12.84 billion (US$3.5 billion) over the next five years to fund its capital expenditure requirements, the company said in a statement. Dubai-based district cooling utility company, PDC, an Istithmar subsidiary, recently secured a three year US$50 million Islamic finance facility from Dubai Islamic Bank (DIB) to fund its exponential expansion which will see the company become the ...  >>MORE

Work is on in Abu Dhabi aluminium smelter : Hamed

Posted on 21/10/2006

Work is progressing steadily and well in building the Abu Dhabi aluminium smelter, owned by Abu Dhabi Aluminium company, and production is set to start by 2011, a senior Abu Dhabi government official has affirmed. 'Construction work in the Abu Dhabi aluminium and alumina is speeding up to be ready for production by 2011. The facility will be the world's largest smelter when completed,' said Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Department of Planning and Economy and Chairman of ...  >>MORE

Borouge set to expand into base chemicals

Posted on 10/10/2006

Abu Dhabi Polymers Company (Borouge) yesterday is exploring the possibility of expanding its facilities to produce base chemicals. A study is underway to examine the feasibility of a major new expansion of its petrochemicals complex in Ruwais, to produce and market base chemicals for the first time. Based on benzene and propane feedstock, supplied by Borouge's joint venture co-owner Adnoc, the new project will include world-scale propane dehydrogenation and cumene-phenol plants, as well as ...  >>MORE

UAE footwear imports triple in five years

Posted on 08/10/2006

UAE footwear imports have increased three times in the last five years, amid an explosion in demand for leather shoes. The value of imports jumped from around Dh270 million in 2000 to an estimated Dh750 million in 2005, according to an Emirates Industrial Bank report. The increase in demand is attributed to the rapidly growing population and the increasing number of tourist shoppers. Tourist shopping constitutes 30 to 40 per cent of retail sales of footwear. The report said there is a ...  >>MORE

Borouge, Borealis form world-class Innovation Centre in the UAE

Posted on 17/09/2006

Borouge and Borealis, leading providers of value creating, innovative plastics solutions, announced Thursday the establishment of a major innovation centre in the UAE. The centre represents a significant investment in Borouge's research capabilities to meet customer needs in the Middle East and Asia Pacific regions. The innovation centre, jointly developed by Borouge and Borealis, will concentrate on developing practical solutions for plastic material applications and be fully operational in ...  >>MORE

Borouge, Borealis highlight contribution of plastics

Posted on 12/09/2006

Beijing - Borouge and Borealis, the leading providers of innovative plastics solutions in Europe, the Middle East and Asia-Pacific, have highlighted the positive contribution that plastics are making to potable water distribution. At the IWA World Water Exhibition and Congress in Beijing (10-14 September 2006), the companies highlighted the role that plastics, such as Polyethylene (PE), are playing in preserving and distributing drinking water. In an environment where drinkable water is a ...  >>MORE

DUBAL, Mubadala review progress on world's largest aluminium smelter

Posted on 11/09/2006

The fourth Joint Steering Committee (JSC) for developing the largest Aluminium Smelter in the world (approximately 1.4 million tons per annum) held its meeting between Dubai Aluminium Company (DUBAL) and Abu Dhabi's Mubadala Development Company yesterday to review the progress of the US$6-billion joint venture Emirates Aluminium Limited (EMAL) and take further steps to advance the prestigious project to its next crucial stage. The meeting was jointly chaired by Khaldoon Khalifa Al Mubarak, ...  >>MORE

Empower gets Dh162m loan to build plant

Posted on 07/09/2006

Emirates Central Cooling Systems Corporation (Empower) has signed a Dh162 million (US$44.12 million) loan facility with ABN Amro to fund the construction of a cooling plant. The plant will be built at Dubai Healthcare City, company statement said. The deal was signed by Empower CEO Ahmad Bin Shafar and ABN Amro's Country Executive Colin Macdonald. Last month, Empower announced that it has chosen Allied Consultants, a leading engineering consultancy, to design four district cooling plants ...  >>MORE

Ducab opens Dh20 million PVC plant

Posted on 30/08/2006

Ducab, the leading manufacturer of high-quality power cables in the Middle East, has announced the opening of an Dh20 million PVC compounding plant at its Jebel Ali facility. Ducab's decision to have its own PVC compound plant is part of its on-going expansion and forms part of its vertical integration programme. The plant will produce flexible PVC compounds for insulation and sheathing of electric cables. State of the art equipment for the new plant, including automated weighing and dosing ...  >>MORE

Empower chooses Allied Consultants as design partner for TECOM project

Posted on 14/08/2006

Emirates Central Cooling Systems Corporation (Empower) today announced that it has chosen Allied Consultants, a leading engineering consultancy, to design four district cooling plants for the TECOM Investments community. Allied Consultants will support Empower in developing the blueprint of the plants that will service the entire TECOM development, which includes leading knowledge- industry clusters - Dubai Internet City, Dubai Media City and Dubai Knowledge Village. The four district ...  >>MORE

Ducab reports Dh700 million sales in H1

Posted on 30/07/2006

Ducab, the leading manufacturer of high-quality power cables in the Middle East, has achieved record sales worth Dh700 million for the first half of 2006. During the first half, Ducab won a string of major utilities contracts, from Dubai Electricity and Water Authority (DEWA) Federal Electricity and Water Authority (FEWA), Saudi Electric Company and Abu Dhabi Water and Electricity Authority (ADWEA) worth a total of over Dh600 million, a company press release said. 2006 marks Ducab's ...  >>MORE

UAE industries attract Dh68.22b investment

Posted on 24/07/2006

Investment in the UAE's industrial sector has jumped 140 per cent in five years, rising from Dh28.45 billion in 2000 to Dh68.22 billion by the end of 2005. At the same time, the number of new industrial firms increased by 41 per cent - from 2,334 to 3,294. During that period the sector saw a 30.4 per cent increase in the number of workers. The industrial sector in Abu Dhabi fared well with a 416.4 per cent increase in investment, according to a latest Ministry of Finance and Industry ...  >>MORE

Cooling giant Tabreed records profit surge

Posted on 24/07/2006

National Central Cooling Co (Tabreed) has posted a net profit of Dh32.5 million for the first half of 2006, up from Dh31.5 million over the same period last year. Tabreed posted revenues of Dh231.4 million which represents a 21 per cent increase over the same period in 2005. Profits from operations soared to Dh105.6 million compared to Dh86.5 million over the same period in 2005. At the end of the period, the company's total assets increased to Dh3.04 billion from Dh2.6 billion in December ...  >>MORE

Dubai Aluminium opens office in Seoul

Posted on 09/07/2006

Dubai Aluminium Company DUBAL, one of the largest producers of premium quality aluminium in the world, announced the opening of a full-fledged office in Seoul, South Korea - the first-ever direct office in Asia. Currently DUBAL's exports to Asia amount to 450,000 tonnes, almost 40% of its total production. DUBAL's sales to South Korea alone stand at around 55,000 tonnes in 2006 against 45,000 tonnes in 2005. The DUBAL move is in line with the aluminium giant's strategic initiative to expand ...  >>MORE

DUBAL plans to triple its production in five years

Posted on 08/07/2006

Dubai Aluminium (DUBAL) is aiming to nearly triple its aluminium production capacity in five years, while meeting its raw material needs in-house over the same period. The Dh12 billion company that contributes eight per cent to Dubai's GDP, currently produces 861,000 metric tonnes per year of aluminium, used in construction, transportation, electric and packaging items. Khalid Essa Abdullah Buhumaid, the general manager corporate relations and international affairs at DUBAL, said the ...  >>MORE

Ministry stops bid to hike cement price

Posted on 02/07/2006

The UAE Ministry of Economy has thwarted an attempt by the country's cement producers to raise cement prices by Dh10 per tonne. The Ministry of Economy will soon hold a second meeting with the cement producers to discuss the intention of cement producers. Sources in the cement industry told Gulf News that the first meeting which was held between the two parties on June 21 failed to reach an agreement. Cement producers have been pushing for a price hike citing the inflation as well as an ...  >>MORE

Aluminium industry on major expansion drive

Posted on 02/07/2006

The Aluminium Industry in the UAE has been so successful in the recent years that aluminium producing companies are planning expansion this year. For 2006, Dubal has a target to raise aluminium production by eight per cent to 778,000 tonnes per annum, according to a recent report by Emirates Industrial Bank. In 2005, Dubai's production reached an all time peak of 722,000 tonnes and an estimated 92 per cent of the production was exported. The current capacity of the plant is 761,000 tonnes ...  >>MORE

New Dh 370 mn steel factory in Hamriya Free Zone

Posted on 28/06/2006

Dr. Sheikh Sultan bin Khalifa Al Nahyan, Chairman of Hamriya Steel Factory and Sheikh Khalid bin Sultan Al Qasimi, Chairman of the Hamriya Free Zone Authority in Sharjah signed yesterday a contract with the Russian Metalo Invest Company for building a Dh 370 million steel factory at the zone. Sheikh Sultan said the steel factory would be the first of its kind in the country and will have a total production capacity of one million tones a year at the first phase. 'The factory will be one ...  >>MORE

Multi-billion Borouge 2 expansion project on track

Posted on 21/06/2006

Borouge, the leading provider of innovative plastics solutions and one of the UAE's leading international companies, has announced that the multi-billion Borouge 2 expansion project at its petrochemicals manufacturing facility in Ruwais, Abu Dhabi is making rapid progress and will be completed on schedule by mid-2010. The announcement was made at a press conference held today at Grand Hyatt Hotel, Dubai where Harri Bucht, Chief Executive Officer of Abu Dhabi Polymers Company (Borouge), ...  >>MORE

DUBAL investing Dh700m in next expansion phase

Posted on 18/06/2006

Dubai Aluminium Company (DUBAL), one of the largest producers of aluminium in the world, on Saturday announced a major Dh700 million (US$190 million) Phase II expansion plan which will increase production capacity by 60,000 tonnes a year. The expansion plan is part of DUBAL's roadmap to increase the total production capacity to 1.5 million tonnes per annum. The expansion comes on top of a Dh380 million capacity enhancement programme initiated by DUBAL in 2004, taking its total investment to ...  >>MORE

Emaar Industries lays out growth blueprint

Posted on 04/06/2006

Emaar Industries and Investments, one of the country's leading industry investors, recently unveiled its plans to introduce large-scale manufacturing projects across the region. Emaar Industries and Investments (EII), a private joint stock company spun out of real estate giant Emaar Properties, revealed its three-pronged strategy to a group of business and trade delegates from around the world at a closed door meeting in Dubai. The growth blueprint lays out EII's plan to carve a niche for ...  >>MORE

Al Ain Industrial City launched

Posted on 03/06/2006

The Al Ain Industrial City project has been officially launched on Wednesday under the patronage of Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, General Sheikh Mohammed bin Zayed Al Nahyan. The Higher Corporation For Specialised Economic Zones (ZonesCorp) announced here in Abu Dhabi, in the presence of the Chairman of the Abu Dhabi Department of Planning and Economy and Board Chairman of the ZonesCorp, Sheikh Hamed bin Zayed Al Nahyan, the official launch of ...  >>MORE

Ministry blocks decision to increase cement prices

Posted on 29/05/2006

The Ministry of Economy has overturned a decision by cement factories to increase cement prices by Dh10 per tonne as from June 1 . In a statement to WAM, Abdullah bin Ahmed Al Saleh said : "The Ministry has moved swiftly to overturn the recent decision by cement factories to increase prices by Dh10 per tonne. We have contacted representatives of these companies and made it clear that no unnecessary hike in prices will be allowed.” Saleh added that there should be no unified prices for ...  >>MORE

Zones Corp to launch Al Ain Industrial City project

Posted on 28/05/2006

The Higher Corporation for Specialized Economic Zones in Abu Dhabi (ZonesCorp) will launch on Wednesday, May 31, 2006 the Al Ain Industrial City Project. The project, which is being launched under the Patronage of General Sheikh Mohammed Bin Zayed Al Nahyan, Abu Dhabi Crown Prince, Deputy Supreme Commander of the UAE Armed Forces, is part of the economic development and the rapid tourism expansion being witnessed by Al Ain City in recent years. In a statement on the occasion Sheikh Hamed ...  >>MORE

DUBAL sells its entire output for 2006 on high demand

Posted on 16/05/2006

Dubai Aluminium Company (DUBAL), the operator of the Middle East's largest smelter, has sold all its metal production for this year as demand from customers in Asia and Europe soars, a company official said. "We have no more metal available this year,” said Maher Murad, the company's marketing and sales manager. The company has already sold its entire output of 861,000 tonnes of aluminium for this year, he said. The state-owned company spent US$284 million (Dh1.04 billion) last year to ...  >>MORE

DUBAL plans to increase exports to Syria by 50%

Posted on 10/05/2006

Dubai Aluminium Company (DUBAL) one of the largest aluminium producers in the world, is set to increase its exports to Syria by 50 per cent during this year to 30,000 tonnes from 20,000 tonnes in 2005. DUBAL said it sees long-term opportunities for its products in Syria as the economy last year expanded, registering a real growth rate exceeding 4 per cent. Currently, DUBAL supplies nearly 100 per cent of aluminium required by the construction industry and other sectors in Syria. DUBAL's ...  >>MORE

Phase 1 & 2 of Emirates Industrial City launched

Posted on 07/05/2006

Sharjah Crown Prince and Deputy Ruler Sheikh Sultan bin Mohammed bin Sultan Al Qasimi inaugurated yesterday Phase-1 and Phase-2 of Emirates Industrial City in Sharjah. The ceremony was held under the patronage of H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah at the location of the new project in Sa'ja area. One of the first planned industrial cities in the UAE, Emirates Industrial City will stretch over an area of up to 8 million square meter and ...  >>MORE

Dubai Industrial City wins 80 investment contracts

Posted on 04/05/2006

On the heels of completing a GCC roadshow, the Dubai Industrial City has secured 80 contracts worth more than Dh2 billion toward the first phase of the hard industry hub, slated for completion by the end of the year. "We're talking on average of about Dh30 million per contract, and some go beyond Dh100m. This constitutes billions of dirhams of investment,” Khalid Al Malik, Senior Vice-President of industry and knowledge for Tatweer, said on the sidelines of a business conference. ...  >>MORE

UAE-made buses to roll out in June

Posted on 30/04/2006

The UAE's first locally built buses will be ready for roll out in a month's time from Abu Dhabi's industrial city, top officials of the manufacturing company said on Saturday. Trans Continental Industries LLC, a 51:49 joint venture between the Bin Jabr Group and UK-based Vectra Azad, is putting the final touches to the first set of buses that comprise the pilot batch. "The first batch of 10 buses will roll out in June. Currently, testing of the pilot production is going on. After that there ...  >>MORE

Tabreed to build new plant in Mohammed bin Zayed City

Posted on 24/04/2006

Tabreed will build a new plant in Abu Dhabi's Mohammed bin Zayed city to provide cooling services to a major new mixed-use development from Link Investment. This brings the current number of Tabreed cooling plants in Abu Dhabi to 18 - the largest number in any emirate. The project, which will require a cooling capacity of 7365 Tons of Refrigeration (TR), includes 20 buildings and a shopping mall. It will be ready by September 2007. Tabreed recently won many new contracts in Abu Dhabi and is ...  >>MORE

First bus factory in UAE opened

Posted on 23/04/2006

Specializing in design and manufacturing of all types of Transport Solutions including buses, coaches and other special purpose vehicles, Trans Continental Industries (TCI) announces the opening of its new facility, constructed on an area of 22,000 square meters, at the Industrial City of Abu Dhabi (ICAD). Trans Continental Industries (TCI) was established as a joint venture between the Abu Dhabi-based Bin Jabr Group (51 percent stake) and the U.K. based Vectra-Azad Group (49 per cent ...  >>MORE

Middle East textile trade hit Dh21.5b in 2005

Posted on 19/04/2006

The textile market in the Middle East grew stronger in 2005, with total trade through Dubai touching an astonishing Dh21.5 billion, an increase of 15 per cent over the previous year, according to trade traffic statistics compiled by the Statistics Department of the Dubai Ports, Customs and Free Zone Corporation (PCFC). Total imports increased from Dh12.1 billion in 2004 to Dh13.4 in 2005, whereas re-exports increased from Dh5.8 billion to Dh7.1 billion over the same period. Total value of ...  >>MORE

PCFC records 37 per cent growth in Dubai's wood

Posted on 08/04/2006

The construction boom in the UAE is fuelling unprecedented growth of the country's wood market, with total trade of wood and wood products recording a remarkable 37.5 per cent jump in 2005 over the previous year, according to trade traffic statistics compiled by the Statistics Department of Dubai Ports, Customs and Free Zone Corporation (PCFC). Total imports increased 34.3 per cent to about Dh5.2 billion while exports rose 69 per cent to touch about 336 million. Total re-exports increased ...  >>MORE

Fujairah to have new Dh60 million crusher plant

Posted on 05/04/2006

Max Rock, a jointly-owned company by Ali & Sons Company LLC and Ahmed & Faisal Bin Abdul Aziz Al Khazraji, has set up a new crusher plant in Fujairah. The plant, which is located in Tawyeen area, has the capacity to produce 5.5 million tonnes of crushed materials per year. The cost of setting up the plant, which will be commissioned by the end of this month, is Dh 60 million. The company was established in Abu Dhabi in 2003 to manufacture and supply crushed and screened stones and washed ...  >>MORE

Tabreed scores with Abu Dhabi's Al Jazira sports and cultural club

Posted on 05/04/2006

Tabreed, the UAE's award-winning district cooling pioneer, has won a contract with the Al Jazira Sports and Cultural Club - Abu Dhabi (Mohammed bin Zayed Stadium) to provide cooling services for its existing buildings. This is the company's first sports sector project and will require an estimated 1200 Ton of Refrigeration (TR) cooling capacity for the existing grand stand and gymnasium The company has also been contracted to cool the Mohamed bin Zayed stadium's new development aimed at ...  >>MORE

Industry got Dh68.2 billion in capital

Posted on 05/04/2006

The industrial sector in the UAE saw capital inflow of Dh68.2 billion in 2005 with more than 3,294 industrial units getting incorporated. Assistant Under Secretary of the Ministry of Finance and Industry, Nasser Lootah said in the latest edition of the UAE Industry magazine that the industrial sector in the UAE witnessed a remarkable growth of nine per cent of the GDP in 2004. The focus on the industrial sector aims to invigorate the world competition, which leads in turn, to the growth of the ...  >>MORE

Mecca Cola Industrial Park at Dubai Industrial City

Posted on 22/03/2006

Mecca Cola, one of the Arab world's best known home-grown brands announced today that it will set up its first state-of-the-art 'Mecca Cola Industrial Park' at Dubai Industrial City (DI) in September 2007. An agreement to this effect was signed in Dubai by Tawfik Mathlouthi, Chairman and Chief Executive of the Mecca Cola Group, and Khaled Al Malik, Senior Vice President of Industry and Knowledge of Tatweer. The Mecca Cola Group will develop the park inside the 300,000 square feet Dubai ...  >>MORE

Tabreed's output capacity to nearly triple by 2008

Posted on 22/03/2006

Tabreed yesterday said its production capacity would more than double by year-end and nearly triple by late 2007 in the UAE with 12 projects underway and an equal number under design stage. The company's joint venture in Oman will get off the ground shortly as it plans to enter new markets in the region. "We expect total chilled water tonnage to keep on rising at a robust rate in the next few years to reach 197,000 refrigerated tonnes and 334,000 tonnes in 2006 and 2007 respectively in ...  >>MORE

Emirates Cement to set up new plant in Fujairah

Posted on 20/03/2006

The Emirates Cement Factory, owned by Abu Dhabi's General Holding Company, yesterday announced it is setting up a new plant in Fujairah. The new unit, Arkan Building Materials Company, will be capitalised at Dh1.75 billion of which Dh857.5 million would be raised through an initial public offering (IPO). An agreement was signed yesterday by Salem Bin Mohammad Al Daheri, Under Secretary, Department of Planning and Economy, Abu Dhabi, and Dr Fang Fang, Board Member of China National Building ...  >>MORE

Sharjah is undisputed industry heavyweight

Posted on 13/03/2006

Sharjah has been the undisputed industrial heavyweight of the UAE for more than 15 years. The emirate now accounts for 45 per cent of the UAE industrial output and has started to expand its role on the world stage – in a sometimes surprising variety of sectors. "One of the most interesting example is biscuits,” says Sharjah Economic Development Department Chairman Sheikh Tariq bin Faisal Al Qasimi. "Sharjah now exports biscuits to more than 100 countries. We import wheat and send back ...  >>MORE

Tameer says construction of Emirates Modern Industrial Area is nearly finished

Posted on 12/03/2006

Property developer Tameer Holding said yesterday it has completed 95 per cent of the Emirates Modern Industrial Area (Emia) in Umm al-Qaiwain. Emia is focused on industrial interests. The design incorporates commercial, industrial and residential activities, featuring labour camps, shops and storage areas. The industrial space has been constructed on about 80 million square feet at a cost of US$68.2 million (Dh250m),Tameer said. The total length of roads in the project is 60km, with the ...  >>MORE

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Quick List

Palm District Cooling plans to raise Dh12.84b in five years


Work is on in Abu Dhabi aluminium smelter : Hamed


Borouge set to expand into base chemicals


UAE footwear imports triple in five years


Borouge, Borealis form world-class Innovation Centre in the UAE


Borouge, Borealis highlight contribution of plastics


DUBAL, Mubadala review progress on world's largest aluminium smelter


Empower gets Dh162m loan to build plant


Ducab opens Dh20 million PVC plant


Empower chooses Allied Consultants as design partner for TECOM project


Ducab reports Dh700 million sales in H1


UAE industries attract Dh68.22b investment


Cooling giant Tabreed records profit surge


Dubai Aluminium opens office in Seoul


DUBAL plans to triple its production in five years


Ministry stops bid to hike cement price


Aluminium industry on major expansion drive


New Dh 370 mn steel factory in Hamriya Free Zone


Multi-billion Borouge 2 expansion project on track


DUBAL investing Dh700m in next expansion phase


Emaar Industries lays out growth blueprint


Al Ain Industrial City launched


Ministry blocks decision to increase cement prices


Zones Corp to launch Al Ain Industrial City project


DUBAL sells its entire output for 2006 on high demand


DUBAL plans to increase exports to Syria by 50%


Phase 1 & 2 of Emirates Industrial City launched


Dubai Industrial City wins 80 investment contracts


UAE-made buses to roll out in June


Tabreed to build new plant in Mohammed bin Zayed City


First bus factory in UAE opened


Middle East textile trade hit Dh21.5b in 2005


PCFC records 37 per cent growth in Dubai's wood


Fujairah to have new Dh60 million crusher plant


Tabreed scores with Abu Dhabi's Al Jazira sports and cultural club


Industry got Dh68.2 billion in capital


Mecca Cola Industrial Park at Dubai Industrial City


Tabreed's output capacity to nearly triple by 2008


Emirates Cement to set up new plant in Fujairah


Sharjah is undisputed industry heavyweight


Tameer says construction of Emirates Modern Industrial Area is nearly finished