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THE ECONOMY - INDUSTRY

DUBAL commissions region's first Dh100m. multipurpose casting machine

Posted on 22/08/2005

Dubai Aluminium Company DUBAL, internationally recognized as one of the major aluminum producers, recently commissioned the Dh.100-million Casthouse-3 machinery in collaboration with the Italian major "Properzi". DUBAL is the first company in the region to install and commission such state-of-the-art machinery. "This initiative is in line with the directives given by Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister for Finance and Industry and Chairman of DUBAL, with ...  >>MORE

Khalifa endorses GCC unified industrial law

Posted on 13/08/2005

President His Highness Sheikh Khalifa Bin Zayed Al Nahyan yesterday issued a Federal Decree endorsing a law on a unified system of industrial regulation in the GCC countries. The 33-article legislation is aimed at increasing the contribution of the industrial sector to the country's gross domestic product (GDP) and will also create a base for the economic integration and prosperity of the GCC countries. It is expected to give a fillip to the country's industries, encouraging them to raise ...  >>MORE

Ducab undertakes Dh30 million expansion in Abu Dhabi production

Posted on 09/08/2005

Ducab, the leading manufacturer of high quality power cables in the Middle East has announced major expansion plans of their recently opened production facility in Abu Dhabi. The company is investing ADh30 million in the expansion project that will result in increasing Ducab's existing production capacity by 20 per cent. The expansion project which is already underway, is expected to be completed by the beginning of 2006, and will enable Ducab to meet the growing demand for high quality ...  >>MORE

Hamdan approves Dubal expansion project

Posted on 08/08/2005

Sheikh Hamdan bin Rashid Al Maktoum, Dubai Deputy Ruler, Minister of Finance and Industry and Chairman of Dubai Aluminium Company (DUBAL), yesterday approved a massive capacity expansion project for DUBAL costing over AED1 billion (USUS$284 million) for the existing smelter to meet the ever-growing customer demand for its high quality metal. DUBAL's current expansion project will act as a stimulant to inject more dynamism to the industry in the region. Consequently, it will make Dubai, the ...  >>MORE

Fujairah Cement reports Dh67.3m net profit

Posted on 31/07/2005

Fujairah Cement Industries Company has reported a substantial surge in net profit to Dh67.335 million during the first six months of the year, against Dh42.526 million of previous comparable period. The sales of cement rose due to the massive construction activity in the country from Dh131.224 million to Dh173.73 million along with the cost of sales to Dh102.679 million from previous level of Dh84.350 million, leading to a gross profit of Dh71.058 million from Dh46.873 million mark of first ...  >>MORE

DLC sourcing industry input into master plan

Posted on 25/07/2005

The first user consultative group meeting held by the Dubai Logistics City (DLC) — the first phase of the planned Jebel Ali Airport City project — has taken place with representatives from the Emirate's freight forwarding community inputting into the fine tuning of the project's master plan. "These meetings are visible demonstrations of our commitment to work with the customers we will serve to deliver world-class facilities and services," said Sheikh Ahmed bin Saeed al Maktoum, President, ...  >>MORE

Tabreed to split shares; stock spurts 4.25%

Posted on 20/07/2005

Shareholders Dhabi-based National Central Cooling Co. (Tabreed) have approved a board proposal to split the face value to of the company's shares from Dhs10 to Dh1. The extraordinary general meeting of the shareholders of the company held in Abu Dhabi on July 18 decided that the Dh10 share be split into ten shares of Dh1 each and fixed the entitlement date as July 23, 2005. The splitting of the shares is expected to increase liquidity as is witnessed in the case of other shares like EMAAR ...  >>MORE

UAQ Cement Co. enlisted on Abu Dhabi Securities Market

Posted on 18/07/2005

The Umm Al Qaiwain Cement has been enlisted yesterday on the Abu Dhabi Securities Market, ADSM. A special ceremony was held on the occasion which attracted a number of dignitaries, including Sheikh Ahmed bin Rashid Al Mualla, the Director General of the Umm Al Qaiwain Cement Company, UAQCC. A statement issued by the ADSM said with the enlistment of the UAQCC, the number of public joint stock companies on its list has risen to 54 companies. The statement said that transactions on the ...  >>MORE

Dubai glassmaker gets European certification

Posted on 18/07/2005

Lumiglass Industries LLC, a Dubai Investments subsidiary, has become the first company in the UAE to receive ECE 43R certification, the European standard for automobile glass safety and equivalent US Department of Transportation number DOT 806 for its automotive glass. Lumiglass was on Tuesday certified as an ISO 9001-2000 quality management certified company by ATB Vincotte International, only after 6 months from commercial start-up of production. Along with these certifications, ...  >>MORE

RAK Cement Company achieves Dh54.5m net profit

Posted on 17/07/2005

Ras Al Khaimah Cement Company has achieved net profit of Dh 54.5 million over the first half of the current year compared to Dh 23.1 million of the same period last year. In a statement distributed today by the Emirates Securities and Commodities Authority, ESCM, the company said that profit is higher than the budget estimates for the first six months of this year, considering that production was suspended for 19 days during last April in order to carry out annual maintenance. 'The high growth ...  >>MORE

DUBAL completes potline-7 expansion ahead of schedule

Posted on 17/07/2005

Major primary aluminium producer Dubai Aluminium Co (DUBAL) has completed its US$204 million (Dh750 million) potline-7 expansion well ahead of schedule. Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and Industry and Chairman of DUBAL, yesterday expressed appreciation that all 120 'pots' or 'cells' were commissioned within 25 days, against the target of 60 days an average of 4.8 pots a day. DUBAL operates one of the biggest aluminium smelters in the world. ...  >>MORE

Company investments hit Dh6b in Industrial City

Posted on 10/07/2005

Investments in the new Industrial City of Abu Dhabi (ICAD) have topped Dh6 billion and local banks will play a crucial role in further industrialisation, a top government official said yesterday. "Industrialisation is moving ahead at ICAD with the UAE President and Crown Prince supporting it. So far investments at ICAD are more than Dh6 billion. We are planning some new projects," said Sheikh Hamed Bin Zayed Al Nahyan, Chairman of the Abu Dhabi Department of Economy and Planning. "Local ...  >>MORE

Ducab strengthens its presence in Iran

Posted on 04/07/2005

Dubai Cable Company Pvt. Ltd (Ducab), the leading manufacturer of high quality power cables in the Middle East, has stabilised its presence in the promising Iranian market in line with its growth strategy to explore upcoming markets in the region. Ducab has already made sales worth more than Dh20 million in the last two years in the Iranian market in various sectors. In order to reinforce its long-term commitment to the Iranian market, Ducab conducted a Seminar highlighting the technical ...  >>MORE

RAK Ceramics commissions ninth factory

Posted on 22/06/2005

Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah today opened the new Dh180 million manufacturing facility. The new hi-tech ceramics factory, named MC-8, is the ninth unit of RAK Ceramics in the Emirate. It will have a production capacity in excess of 35,000 sq. meters of high quality granite ceramic tiles per day. During the opening ceremony, which was attended by Sheikh Fasial bin Saqr Al Qasimi, Chairman of Ras Al khaimah Finance Department and Sheikh ...  >>MORE

Construction of new cement factory valued Dh 400 million begins in RAK

Posted on 19/06/2005

The emirate of Ras Al Khaimah will have a new cement factory with an annual production capacity of one million tonnes, in an endeavour to meet the growing demand in the UAE and the Gulf region for this vital commodity. Pioneer Cement Industry has announced that construction work of the new factory has already started at Al Ghail area. "The new installation's construction cost of Dh 400 million will be financed through a joint investment bid by the founding parties of the company as well as a ...  >>MORE

Dubai Investments to create holding company for glass units

Posted on 12/06/2005

Emirates Glass, along with the other two glass manufacturing units within Dubai Investments group, will form a holding company to deal with the entire range of glass products, said Khalid Bin Kalban. "We want to create a world-class one-stop-shop for all glass requirements and the new entity will be able to meet all glass requirements in the region.” said Kalban, CEO and managing director of Dubai Investments, which has 28 companies in its fold. Emirates Glass makes architectural glass ...  >>MORE

RAK in talks to set up US$100m bricks factory

Posted on 30/05/2005

The Ras al-Khaimah Investment Authority has initiated negotiations with a French company and an Indian company to establish a bricks factory at a cost of US$100 million (Dh368 million). The Ras Al Khaimah Government has finalised a plan to increase the emirate's national income from Dh2 billion to Dh4 billion in the coming 10 years. The investment authority announced yesterday it can be the partner or local sponsor to businesses in a transparent manner. Reading the closing speech at the ...  >>MORE

RAK moves to promote technology and industry

Posted on 29/05/2005

The Ras al-Khaimah Government has created a Dh1 billion technology and industrial fund that will be dedicated to promoting industry and technology in the emirate through joint ventures between businesses in Ras Al Khaimah and outside specialised organisations. "This fund will provide targeted funding commitments to viable projects to set up high value added technology and manufacturing units," Sheikh Saud Bin Saqr Al Qasimi, the emirate's Crown Prince and Deputy Ruler, said yesterday. He ...  >>MORE

Dubai Industrial City launches TransPARK Dubai

Posted on 28/05/2005

Dubai Industrial City, DIC, has launched the TransPARK Dubai aimed at catering for the logistics needs of various sectors in the emirate. The new development is to complement the realization of Dubai's vision to catalyze economic growth through the development of new sectors, The TransPARK will provide a comprehensive range of state- of-the art services geared to support Dubai's role as a global distribution hub. TransPARK Dubai will be established within the Logistics and Services Zone of ...  >>MORE

Manufacturing sector records 7pc growth

Posted on 27/05/2005

The local manufacturing sector, which contributes some 13 per cent to UAE's GDP, recorded seven per cent growth during last year, a report by the "Khaleej Times" said. As the largest non-oil economic sector, the vibrant manufacturing activities in the UAE registered a combined turnover of Dh39 billion in 2003, according to a study by Emirates Industrial Bank. Although the sector provides employment to large number of people it now accounts for one-fifth of the entire non-oil economy, the ...  >>MORE

DUBAL energises Dh881.47m project

Posted on 25/05/2005

Dubai Aluminium Company (DUBAL) yesterday achieved another major milestone with the energisation of its Dh881.47 million ($204 million) Potline-7 expansion well ahead of schedule. The project was also completed significantly below the approved budget. The energising of Potline 7,was reached earlier than the original programme and, was executed in a record time of 14 months. The project was approved by the DUBAL board of directors in March 2004. It was originally scheduled for completion ...  >>MORE

Ducab the partner of choice in cables for international contractors

Posted on 15/05/2005

Ducab, the leading manufacturer of high quality power cables in the Middle East has appointed a Japanese company as its marketing consultant in Japan. This is in congruence with Ducab's market expansion plans through strategic alliances with leading international companies. Ducab has established similar business partnerships in Middle East, India, Korea, and Italy with key market players. Renowned international contractors in Ducab's clientele among many others include: ABB Limited, Seimens ...  >>MORE

RAK cement company net up

Posted on 08/05/2005

The Ras Al Khaimah Company for White Cement and Construction Materials posted a 330 per cent jump in its net profits over 2003, company representatives said. The company recorded a net profit of Dh40.7 million for the year ending December 31, 2004, said Ahmad Bin Humaid Al Qasimi, the chairman of the company's board. The company's net profit for 2003 was Dh9.4 million, he said. The company's annual general assembly, held yesterday, decided to distribute six per cent of the company's capital ...  >>MORE

Dubai Investments inaugurates three subsidiary companies at Dubai Investment

Posted on 03/05/2005

Dubai Investments inaugurated yesterday facilities of three of its subsidiary companies at Dubai Investments Park. The new establishments of Syscom Emirates, Thermoset and Emicool were inaugurated in the presence of Ahmad Humaid Al Tayer, Chairman, Emirates Bank Group and Khalid Bin Kalban, Managing Director and Chief Executive Officer, Dubai Investments. Dubai Investments has invested a total sum of Dh120 million to set up the facilities of Syscom Emirates, Thermoset and Emicool, ...  >>MORE

DUBAL to acquire 25pc stake in Global Alumina

Posted on 30/04/2005

Dubai Aluminium Company, Ltd (DUBAL), operator of the world's third-largest aluminium smelter, and Global Alumina Products Corporation (Global Alumina) yesterday announced that they have entered into a Memorandum of Understanding whereby DUBAL would make a substantial investment in GlobalAlumina. According to "Khaleej Times”, which reported the story in its issue of today, the investment would be by way of share subscriptions and would result in DUBAL ultimately owning 25 per cent of the ...  >>MORE

New Industrial City unveils ambitious expansion plans

Posted on 25/04/2005

Buoyed by growing demand from investors, Abu Dhabi's New Industrial City is poised to expand three-fold, a top government official said yesterday. "Industrialisation activity in the emirate looks very promising, particularly manufacturing where many facilities are under construction. We may double or triple the area of the New Industrial City," said Salem M. Al Daheri, under-secretary in the Department of Economy and Planning. The New Industrial City now covers about 24 square kilometres and ...  >>MORE

Abu Dhabi public and private sectors seal Dh500 million deal

Posted on 23/04/2005

The Chairman of the Abu Dhabi Department of Planning and Economy, Sheikh Hamed bin Zayed Al Nahyan has reiterated the need for the public and private sectors to enter into partnership and to boost these partnership in all economic and investment areas. Sheikh Hamed, who is also the Board Chairman of the Higher Corporation for Specialized Economic Zone (HCSEZ), made the statement following a partnership agreement signed here between the HCSEZ and the Elite Investment House (EIH), a consortium ...  >>MORE

Dubai Industrial City's master plan completed

Posted on 17/04/2005

Dubai Industrial City has announced that it has completed the master plan for the city that will spread across 560 million square feet of prime land clustering industrial activities by setting up manufacturing zones, a dedicated industrial growth fund and an international engineering academy established in partnership with one of the leading globally-branded schools, a dedicated logistics zone and a commercial area that will sprawl along the emirates road and the Water Canal winding its way ...  >>MORE

RAK Ceramics to invest Dh735m to raise capacity

Posted on 10/04/2005

In September, the Ras Al Khaimah plant of RAK Ceramics will become the world's largest single ceramic products plant. The company will invest Dh735 million (US$200 million) to boost its combined annual capacity to 100 million square metres of ceramic tiles, Dr Khater Massaad, chief executive officer of RAK Ceramics and advisor to Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, told "Gulf News.” By September, it will account for five per cent of the global ...  >>MORE

DUBAL in Dh3.67 billion India venture

Posted on 06/04/2005

Dubai Aluminium Company will set up a Dh3.67 billion joint venture with Larsen and Toubro to build a combination bauxite mining and alumina refinery in India's Orissa state. Dubai Aluminium Company, DUBAL, and Larsen & Toubro – one of India's leading diversified engineering and construction conglomerates – entered into an understanding on March 5 in Mumbai. The massive upstream integration project consists of a 1.4 million tonne per annum alumina refinery, bauxite mining and the development ...  >>MORE

UAE automobile mart posts strong growth

Posted on 06/04/2005

The automobile market in the country is burgeoning with the current volume placed at around 1.36 million vehicles with nearly 30 per cent of the new cars in the emirate of Abu Dhabi. According to a publication of the Abu Dhabi Chamber of Commerce and Industry, that quoted the latest report of the International Monetary Fund, automobile and spare parts exports to the UAE stood at Dh15 billion in 2002. T his represents a stable growth of 9.2 per cent, the biggest growth rate among the ...  >>MORE

Emirates Glass doubles production capacity

Posted on 04/04/2005

Emirates Glass, a Dubai Investment Group subsidiary and one of the leading quality glass manufacturers in the region, has announced that the company's production capacity has doubled following the commissioning of the three new state-of-the-art machinery and the forced convection furnace at a total cost of AED16 million. During the last quarter of 2004, an ultra-modern Lisec automatic glass-cutting table, a second Lisec double glazing line equipped with the latest edge deletion facility and ...  >>MORE

Tabreed expands operations to Abu Dhabi's Sas Al Nakhl

Posted on 29/03/2005

Tabreed, the National Central Cooling Co. (PJSC) announced yesterday that it had signed a new district cooling deal with Al Kheeli Commercial and Residential Complex that is being developed in Sas Al Nakhl in Abu Dhabi. The scheme is expected to be ready by March 2007 and the complex is comprised of four residential towers, 12 floors each and a 2-storey shopping centre that will host a parking area, two underground floors, cinema theatres and an Ice Skating rink. "Sas Al Nakhl area is ...  >>MORE

JAFZA reports increase in textile firms

Posted on 28/03/2005

Jebel Ali Free Zone Authority (JAFZA) has announced that it has achieved a 178 per cent increase in the number of textile companies operating in the zone, between the year 1999 and 2004. During the first quarter of this year, the total number of textile companies in JAFZA has reached 177, according to a report in "Khaleej Times.” The quantity of textile imports in 2003 was more than 100,000 tonnes, which amounted to over US$438 million. (The Emirates News Agency, WAM) ...  >>MORE

DUBAL posts 40% rise in profits

Posted on 20/03/2005

Dubai Aluminium Company has posted a 40 per cent increase in profits for 2004 over 2003, company representatives said. Dubai Aluminium Company (DUBAL) also posted growth of 34.4 per cent in its first half operating margin, company representatives said. This far exceeds the global aluminium industry average, which currently stands at 9.5 per cent, company representatives said. Apart from this, DUBAL's actual unit cost calculated as per the CRU methodology is the lowest among the 20 largest ...  >>MORE

EMPOWER to build 55,000 ton district cooling plant for DHCC

Posted on 19/03/2005

The Emirates Central Cooling Systems Corporation (EMPOWER) and Dubai Healthcare City (DHCC) have signed an agreement under which EMPOWER will build a District Cooling System (DCS) plant for the entire DHCC cluster. The agreement was signed by Ahmad Bin Shafar, CEO of EMPOWER and Omar Al Shunnar, Chief Sales and Marketing Officer of DHCC.With a total capacity of 55,000 tons, the DHCC's DCS plant will initially cater to the first phase of DHCC, covering 4.1million sq feet of land. EMPOWER's ...  >>MORE

MOU for set up of copper rod plant in Abu Dhabi signed in Sydney

Posted on 17/03/2005

Sydney - A major Australian copper rod manufacturer and a UAE investor signed in Sydney yesterday a Memorandum of Understanding (MOU) to set up a plant in Mustafa, Abu Dhabi, for the production of continuous cast and rolled copper rod at a total cost of over Dh 100 million. The MoU between Australian copper rod manufacturer Kembla Wire & Rod and UAE national investor Emirates Link Group was inked on the sideline of the official visit to Australia of Sheikha Lubna Al Qasimi, Minister of ...  >>MORE

DUBAL production rose 40pc in 2004

Posted on 17/03/2005

Dubai Aluminium Company (DUBAL) achieved 683,000 tonnes total production last year, recording an increase of 40 per cent against 2003. This was announced by Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister for Finance and Industry and Chairman of DUBAL, yesterday, who chaired the annual general meeting of the Board of Directors of the company. During the meeting, Sheikh Hamdan also reviewed DUBAL's business plans, future projects and the company's programme for the ...  >>MORE

Emdad signs pipeline deal with Dutco McConnell

Posted on 09/03/2005

Emdad has signed an Dh86 million contract with Dutco McConnell Dowell to lay a 58-kilometre, 12-inch-diametre pipeline, company representatives said. The contract was signed at the Emirates General Petroleum Corporation (Emarat) headquarters in Dubai. The signatories included Rashid Hamad Al Shamsi, general manager of Emarat and chairman of Emdad; Patrick Romeo, regional vice-president of Shell Aviation and director of Emdad; Christian Tabet, regional business development manager at BP ...  >>MORE

HCSEZ ties up with Hochtief Construction AG

Posted on 06/03/2005

HCSEZ announced yesterday their partnership with German firm HOCHTIEF CONSTRUCTION AG through signing a MOU, which covers the building of the infrastructure of the second phase of ICAD. This unique partnership between the two institutions marks the first of many potential projects to be developed in the future. The agreement was signed by AIi Zal AI Mansouri, general manager of the Higher Corporation for Specialized Economic Zones on behalf of the emirate of Abu Dhabi and by Dr. Arnold, manager ...  >>MORE

Hamed bin Zayed inaugurates Ducab's new production facility in Abu Dhabi

Posted on 03/03/2005

Sheikh Hamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Planning and Economic Department inaugurated yesterday the new production plant of Ducab, the leading manufacturer of high quality power cables in the Middle East, which will have a production capacity of 25,000 copper tonnes. The new plant is Ducab's biggest investment since its inception and was built as part of Ducab's corporate strategy of tripling its business to AED 2 billion by 2010. The 180,000 square meter facility, located in ...  >>MORE

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Quick List

DUBAL commissions region's first Dh100m. multipurpose casting machine


Khalifa endorses GCC unified industrial law


Ducab undertakes Dh30 million expansion in Abu Dhabi production


Hamdan approves Dubal expansion project


Fujairah Cement reports Dh67.3m net profit


DLC sourcing industry input into master plan


Tabreed to split shares; stock spurts 4.25%


UAQ Cement Co. enlisted on Abu Dhabi Securities Market


Dubai glassmaker gets European certification


RAK Cement Company achieves Dh54.5m net profit


DUBAL completes potline-7 expansion ahead of schedule


Company investments hit Dh6b in Industrial City


Ducab strengthens its presence in Iran


RAK Ceramics commissions ninth factory


Construction of new cement factory valued Dh 400 million begins in RAK


Dubai Investments to create holding company for glass units


RAK in talks to set up US$100m bricks factory


RAK moves to promote technology and industry


Dubai Industrial City launches TransPARK Dubai


Manufacturing sector records 7pc growth


DUBAL energises Dh881.47m project


Ducab the partner of choice in cables for international contractors


RAK cement company net up


Dubai Investments inaugurates three subsidiary companies at Dubai Investment


DUBAL to acquire 25pc stake in Global Alumina


New Industrial City unveils ambitious expansion plans


Abu Dhabi public and private sectors seal Dh500 million deal


Dubai Industrial City's master plan completed


RAK Ceramics to invest Dh735m to raise capacity


DUBAL in Dh3.67 billion India venture


UAE automobile mart posts strong growth


Emirates Glass doubles production capacity


Tabreed expands operations to Abu Dhabi's Sas Al Nakhl


JAFZA reports increase in textile firms


DUBAL posts 40% rise in profits


EMPOWER to build 55,000 ton district cooling plant for DHCC


MOU for set up of copper rod plant in Abu Dhabi signed in Sydney


DUBAL production rose 40pc in 2004


Emdad signs pipeline deal with Dutco McConnell


HCSEZ ties up with Hochtief Construction AG


Hamed bin Zayed inaugurates Ducab's new production facility in Abu Dhabi