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THE ECONOMY - INDUSTRY

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

Ras al-Khaimah Ceramics expanding production capacity

Posted on 28/02/2005

Ras al-Khaimah Ceramics is entering into a new era by expanding its capacity up to 110 million tonnes a year in line with international trends. The company is ready to stand with the world's leading ceramics producers following the official inauguration of the ready-to-go India and Iran plants early next month, disclosed Dr Khater Massad, Executive Chairman, Ras Al Khaimah Ceramics. He said the company's total sales is touching a billion dirham mark with bright prospects as demand both in ...  >>MORE

EMAAR enters manufacturing sector

Posted on 22/02/2005

EMAAR Properties PJSC yesterday announced the launch of EMAAR Industries, a private joint stock company with a paid up capital of Dh200 million. EMAAR Properties will be the majority shareholder of the company with 50% followed by Amlak Finance PJSC with 10% and the remaining shares being held by reputable and diverse local and regional investors from the UAE and GCC. The new company will capitalise on the growing opportunities in the manufacturing sector by investing into existing ...  >>MORE

Dubai Investments Group to establish glass factory

Posted on 21/02/2005

Dubai Investments Group is planning to establish a glass factory at the value of Dh735 which is hoped to reach a 600 tons per day production capacity of flat building glass. Ernest and Young, and K.M.B.G. were chosen as consultants and would be responsible for conducting feasibility for the project. Khalid bin Kalban, chief executive of the DIG, said that the forthcoming factory was part of as strategy to develop the Group's investments in the glass manufacturing industry, and that abundance ...  >>MORE

DUBAL accomplishes industry feat

Posted on 20/02/2005

Dubai Aluminium Company, DUBAL, one of the world's leading aluminium producers, accomplished an industry feat by exceeding the worldwide industry standard in aluminium for average training day per employee in the year 2004. The average training day of 3.5 per employee at DUBAL during 2004 was way ahead of the global industry average of less than 2.75. This is being achieved under the guidance and support from Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, The UAE Minister for ...  >>MORE

Abu Dhabi's Six Towers to be cooled by Tabreed

Posted on 14/02/2005

Tabreed, the National Central Cooling Company, has won a contract to supply cooling to The Six Towers, a major new residential and commercial complex in Abu Dhabi. Under the terms of the deal, Tabreed will supply cooling services to the entire development of the Six Towers Project. The project comprises two towers that are owned by Private Buildings Est. and a cluster of four other towers owned by International Capital Trading LLC. Construction of the project, which is located in Al ...  >>MORE

DUCAB sales revenue rises to Dh687m

Posted on 09/02/2005

Dubai Cable Co's sales revenues increased 30 per cent in 2004 to Dh687 million, officials said. "Dubai Cable Co [DUCAB] received total orders worth Dh719 million in 2004, an increase of 45 per cent over 2003. DUCAB's specialised fire resistant cable, developed for Delhi Metro, was our flagship product in 2004," said Colin Paskins, managing director. The company will try to secure a similar contract for the Dubai Light Rail project w hen the contract is awarded later this year, he said. ...  >>MORE

Union Cement signs deal for Dh500m unit

Posted on 07/02/2005

Union Cement Co yesterday signed an agreement worth more than Dh500 million with China Building Material Equipment Corp to set up a new clinker facility in Khor Khuwair. The deal was signed in the presence of Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah. The contract was signed by Sheikh Saqr Bin Khalid Al Qasimi, Chairman of Union Cement Co, and Meng Qinglin, Vice-President of China Building Material Equipment Corp. The agreement will see the setting up ...  >>MORE

Abu Dhabi group to invest Dh323m in two factories

Posted on 06/02/2005

The National Holding Company, a local business group, is investing Dh323 million in setting up a copper wire and polyester manufacturing units in Abu Dhabi. The polyester fibre plant, to be set up at an investment of Dh140 million, is slated to go into commercial production in the last quarter of the 2006. The technology will be provided by a German company. The factory will have a an annual production capacity of 18,000 tons. The project is expected to promote investment in the textile ...  >>MORE

Dubal boosts generation of power by 45pc

Posted on 06/02/2005

Dubai Aluminium (Dubal), has acquired a 125MW Alstom steam turbine to increase its generating capability to 1700MWs at an operating efficiency level of 45 per cent. "In many ways, this new acquisition is indeed a major milestone for Dubal. The new Alstom 125MW, which was commissioned by us during the summer of 2004, comprises two GE Frame 9 gas turbines and two CMI heat recovery steam generators. The gas turbines have specially built in combustion equipment which limit the production of ...  >>MORE

Dubai Design Centre draws good response

Posted on 05/02/2005

Dubai Design Centre, the exclusive hub for traders and retailers that offers a complete range of home furnishing and construction solutions, has attracted investment proposals from number of reputed European companies. The Dubai Design Centre (DDC), stated for completion next year, has generated strong response at the recently concluded BAU Exhibition 2005 in Munich, Germany. The 13 million square feet, DDC is the largest home furnishing centre of its kind in the Middle East, designed to ...  >>MORE

RAK Ceramics' profits up to Dh 130 m in 2004

Posted on 30/01/2005

Net profts of Ras Al Khaimah Ceramics Company rose last year to Dh 130 million from Dh 114 million in 2003. According to financial results of the company released today by the Emirates Securities and Commodities Authority, assets had surged Dh 1.8 billion while earnings touched Dh 1.14 billion last year. The Company has announced a plan to commission a Dh 368 million electricity station. Khater Musad, company's CEO, said in a message to the Abu Dhabi Securities Market (ADSM) that the station ...  >>MORE

Local industries achieving impressive growth in UAE

Posted on 22/01/2005

The industrial sector in the UAE contributes more than 13 per cent to the Gross Domestic Product (GDP) and plays a significant role in the national economy of the country. According to a study, the big industries such as aluminium, oil products, food and chemical fertiliser industries contributes to the GDP and made in UAE products has witnessed a steady growth since 2000 and form the major portion of the UAE industrial exports. The food industry in the UAE is also one of the major ...  >>MORE

Julphar posts 19% rise in profit

Posted on 16/01/2005

Gulf Pharmaceutical Industries has reported a net profit of Dh67.1 million for 2004, a 19 per cent increase over its 2003 profit, sources said. Gulf Pharmaceutical Industries (Julphar) also recorded Dh505.5 million worth of sales for 2004, a 14.1 per cent increase over its sales in 2003, which totalled Dh442.9 million. The company's sales in the Lebanese and Kuwaiti markets also went up last year, in spite of challenging conditions, sources at Julphar said. Sales in other markets, such as ...  >>MORE

DUBAL accounts for 7% of GDP

Posted on 10/01/2005

Dubai Aluminium Company, DUBAL, now contributes more than seven per cent of Dubai's gross domestic product, said Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Finance and Industry Minister, and company chairman. The company has invested $2 billion (Dh7.34 billion) in four stages of expansion since 1996, he said. It will invest another Dh1.1 billion in capacity expansion over the next two years. Speaking at DUBAL's landmark 25th year anniversary celebrations, Sheikh Hamdan ...  >>MORE

DUBAL hopes to sell more to China and Japan

Posted on 10/01/2005

DUBAL Aluminium, DUBAL, envisages increasing its aluminium supply to China and Japan when the new Dh564 million expansion project is completed this year, said a senior official yesterday. DUBAL's annual output of 761,000 is expected to touch 84,000 tonnes by the end of July 2005. "Among our large number of clients worldwide, Japan and China are considered to be the largest users,” said Abdullah Kalban, operations manager of DUBAL. He said: "We are expanding our capacity to meet the four to ...  >>MORE

Dubai Industrial City to also promote own projects

Posted on 29/12/2004

Detailed master plans for Dubai Industrial City have begun to be drawn up, in the follow-up to the directive by General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister. "The concept of the city is under study and -- apart from encouraging and supporting private sector investments in industry -- the management of Dubai Industrial City plans to further promote industrial activity in the country by identifying critical sectors and promoting and establishing ...  >>MORE

UAE textile industry set for a major leap

Posted on 29/12/2004

The UAE's US$3 billion textile market, dominated by Dubai, is set for a major leap next year, according to industry analysts. It is poised to become the largest contributor to the country's non -oil GDP and earn maximum revenues if the US export quota restrictions is lifted in 2005. The textile industry in the UAE is also set for huge growth as the government has launched a Dh220 million Textile city, which is under construction near Al Aweer, and will be completed in October 2005. Apart ...  >>MORE

Two factories worth Dh283m being set up in Abu Dhabi

Posted on 28/12/2004

The Emirates International Investment Company LLC is building two factories in the capital with a combined investment outlay of Dh283 million, a company official said. "The Emirates International Investment Company LLC [EIIC] aims to participate in Abu Dhabi's industrial drive. Both factories are viable projects, as there is a strong demand for their products in the local and overseas markets," the official told Gulf News. One factory will produce polyester fibre. The other will manufacture ...  >>MORE

Abu Dhabi plans to step up privatisation

Posted on 22/12/2004

The Abu Dhabi Government has reiterated its commitment to privatise its industries and factories. "We have launched the privatisation programme so that the government can focus on strategic industries, leaving the medium and small sector industries to the private sector," said Sheikh Hamed Bin Zayed Al Nahyan, chairman of the Abu Dhabi Planning and Economic Department. "The first stage of the privatisation process has just begun with the sale of the Emirates Foodstuff and Mineral Water ...  >>MORE

Dubal's expansion is ahead of schedule

Posted on 13/12/2004

Dubal's Dh748.7 million Potline-7 expansion, scheduled to be completed by the fourth quarter of 2005, is ahead of schedule and moving within its projected budget. With the completion of the expansion project, aluminium production at Dubal is set to exceed 74,000 tones per year to a total of more than 761,000 tonnes per annum. The project started in March. "The Potline-7 expansion will win Dubal even greater international recognition and will serve to further elevate the standing of the UAE as a ...  >>MORE

Ducab wins Dh 36 million supply contract with FEWA

Posted on 05/12/2004

Ducab, the leading manufacturer of high quality power cables in the Middle East has succeeded in winning an annual supply contract for the year 2005 with the UAE Federal Electricity and Water Authority (FEWA), worth Dh 36 million. The contract calls for supplying the Authority with 33 kV single core cables for its expanding power grid network in the Northern Emirates. The contract, which was recently signed between Ducab and FEWA by the Chairman of FEWA, and Farid Mohammed Ahmed, General ...  >>MORE

Dh3b industrial city planned in Sharjah

Posted on 30/11/2004

The Emirates Industrial City project, which will cost around Dh3 billion, was unveiled at a press conference yesterday. The project will be developed by The Industrial City Development Company on 83 million square feet of industrial land in Sharjah. Industrial City Development Company ICDC) is a consortium of developers, real estate and marketing companies based in Saudi Arabia. Its members include Al Hanoo Holding Company, Al Zamil Group of Companies, Al Habib Real Estate and Al Seidan ...  >>MORE

Dh110 million for Dubal expansion

Posted on 29/11/2004

Dubal, one of the largest single site smelter in the western world and a leading producer of aluminium is investing in excess of Dh110 million in the second phase of its casthouse expansion, as part of a comprehensive initiative to add additional capacity to its existing facilities at a cost of Dh380 million, according to reports in the UAE's dailies. The second phase of the expansion is expected to be complete by August 2005, which will allow Dubal to further its already considerable ...  >>MORE

Dubai Industrial City to be set up near Jebel Ali

Posted on 27/11/2004

Dubai Industrial City, an extensive manufacturing complex, will be established near Jebel Ali. This is being done under the orders of General Sheikh Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence. The project has been announced under the directives of His Highness Sheikh Maktoum Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The project will cover 560 million square feet and will be equipped with comprehensive ...  >>MORE

UAE cement firms' 2003 sales at Dh1.75 billion

Posted on 23/11/2004

The 11 cement companies in the UAE sold about 10.7mt of cement in 2003 for an estimated total sales of Dh1.75 billion. The industry employs about 3000 workers and has an estimated investment of around Dh1.8 billion, according to a study by Global Investment House. Cement manufacturing was one of the first modern manufacturing activities to commence in the UAE. The first factory was established in Ras al-Khaimah in 1975, but by the beginning of the eighties there was a cement factory in each of ...  >>MORE

Big 5 records 14% rise in first-day visitor attendance

Posted on 23/11/2004

The first day of the region's premier construction and contracting exhibition, Big 5 saw, an increase of 14 per cent in visitor attendance compared with that of last year's show. Although the increase was reflected in all category of visitors, it was more pronounced among local visitors from Dubai, Saudi Arabia, other GCC countries, and also those from Iran and Europe. The show has expanded in all areas this year, with an increase in space prompted by the growing demand from individual ...  >>MORE

NMDC achieves nine-month net profit of Dh9.45million

Posted on 21/11/2004

The National Marine Dredging Company, NMDC, has earned a net profit of Dh9.45 million in the first nine months of this year, compared to a net loss of Dh14.61 million in the corresponding period last year. The first nine months' net profits are lower than Dh10.44 million earned in only the first six months this year, the company's financials show. Earnings per share stood at Dh0.95 at the end of September compared with the loss per share of Dh1.46 for the first three quarters last year. "The ...  >>MORE

Dubai textile trade pins hopes on Europe

Posted on 20/11/2004

The Dubai textile trade is looking more to Europe than to the US as quota restrictions are scaled back beginning next year. Currently, Western Europe represents only a marginal market for textile wholesalers here. It is estimated that it could not be larger than two per cent of the Dh12 billion trade in textiles that Dubai registered in 2003. In stark contrast, markets across Eastern Europe account for 15 to 20 per cent, and have been growing significantly in the last few years. The European ...  >>MORE

Dedicated free zone project offers endless possibilities

Posted on 20/11/2004

All outlets in the Dh220 million Dubai Textile City (DTC) project, totalling 282 units, have been acquired by wholesale traders. The sale of the units was completed over two phases, and the final tally shows that 162 investors have taken up the space. While the first phase sales were conducted by drawing lots, the second phase was conducted on a 'first come, first served' basis, confirmed top Texmas officials. The units are available on 30-year leases. Investors can take on the units on an ...  >>MORE

Abu Dhabi industrial investments at Dh15.6 billion

Posted on 16/11/2004

Abu Dhabi's total industrial investments have touched Dh15.622 billion. These included Dh14.044 billion in national investments, representing 89.9 per cent of the total investments and Dh1.5 billion in foreign non-GCC investments. Chemical and non-metallic mining industries topped the list of these investments at 80.8 per cent with the total investments in these two sectors amounting to around Dh12.632 billion. According to the Ministry of Finance and Industry report, a total of 258 ...  >>MORE

RAK Ceramics to commission Dh368m plant

Posted on 09/11/2004

Ras Al Khaimah Ceramics Company is planning to commission a Dh368 million electricity station to power its plants, its ceo Khater Musad announced yesterday. He said in a message to the Abu Dhabi Securities Market that the station would generate 120 megawatts which would help meet the growing demand for power from the company's plant in Ras Al Khaimah. The company has earned a net profit of Dh91 million during the period ended September 30 against Dh85 million for the corresponding period ...  >>MORE

Nakheel to expand Dubai Design Centre

Posted on 27/10/2004

Nakheel has announced plans to expand Dubai Design Centre (DDC), the hub for traders and retailers that offers a range of home furnishing and construction solutions at its International City. The expansion at the DDC will now take the total area of the development to 13 million square feet with a net prime retail space of 5.7 million square feet, the rest of which is being used to create additional amenities for customers, tenants and patrons from the GCC and the Middle East. Sultan Ahmad ...  >>MORE

Tabreed gets contract to supply cooling to Capital Towers

Posted on 27/10/2004

The Tabreed Plant Room, which is located on Sheikh Zayed Road, will supply 3000 tonnes of refrigeration to Capital Towers. It is slated to begin in 2005. (Press Release) Tabreed, the National Central Cooling Co., has been awarded a contract to supply cooling to Capital Towers, a major new residential and hotel development which is currently under construction on Sheikh Zayed Road. The 10-year contract signed with parent company Capital Investment International makes Capital Towers Tabreed's ...  >>MORE

EHG to set up Dh 250 mn pipes plant in Abu Dhabi

Posted on 16/10/2004

Emirates Holding Group (EHG) is planning to set up a Dh 250 million pipes plant at the Abu Dhabi Industrial City. CEO Yusouf Al Nowais said in a statement here that the facility would have an outlay production capacity of 300,000 tons a year of various types of multi-purpose pipes. 'Machines will be commissioned by mid-2005 and we expect production to start by end of the next year,' he said. He added that the plant would meet growing demand for pipes in the local, GCC and Middle East markets. ...  >>MORE

UAE tops per capita cement consumption, production

Posted on 16/10/2004

Led by the recent construction boom, UAE has emerged the biggest per capita consumer and producer of cement in the GCC region, according to a research report by Shuaa capital. In absolute terms Saudi Arabia tops the GCC production and accounts for about 54 per cent of the total output of the region, followed by UAE which accounts for 24 per cent. But UAE is far ahead of Saudi in per capita consumption with 3 tonne while in Saudi it is below one tonne per capita. Demand-side pressures on the ...  >>MORE

EMAAR Properties launches district-cooling subsidiary

Posted on 11/10/2004

EMAAR Properties yesterday announced further diversification into the services sector with the launch of its fully owned subsidiary EDC LLC. The new company will construct and operate gas and electric district cooling plants to provide both existing and new EMAAR communities with efficient and environmentally friendly district cooling services. The move represents EMAAR's strategy to integrate its diverse business portfolio and is driven by the company's core focus of optimising the ...  >>MORE

DUBAL refurbishes pipes

Posted on 10/10/2004

Dubai Aluminium Company, DUBAL, ha refurbished three massive 400-metre sub-sea pipes at a cost of Dh15 million. The project was entirely handled by a in-house specialists. The pipes funnel seawater to cool DUBAL's power generation plant and to produce approximately 30 million gallons of desalinated drinking water a day. (The Gulf News) ...  >>MORE

Empower wins contract to develop DIFC project

Posted on 05/10/2004

Empower, the district cooling entity in which the Dubai Technology and Media Free Zone (Tecom) has a 50 per cent stake, has won the contract to develop a 70,000 tonne project for Dubai International Financial Centre (DIFC). The project could end up being the biggest district cooling venture undertaken to date in the Middle East. There is also a second district-cooling unit conceived for DIFC, for which details have not yet been finalised. Empower was launched late last year, with Dubai ...  >>MORE

ADCB to set up business centre at Abu Dhabi Industrial City

Posted on 02/10/2004

Abu Dhabi Commercial Bank (ADCB) will open by the end of November a business centre at the Abu Dhabi Industrial (ADIC). A memorandum of understanding (MoU) in this respect was signed by ADCB Chief Executive Officer Eirvin Knox and Ali Za'al Al Mansouri, Director General of the Higher Corporation for Economic Specialised Zones, operator of the ADIC. Knox hoped the business centre would be an important financial source for companies at ADIC. He added that the 700 metre two-storey centre would ...  >>MORE

Abu Dhabi and Volkswagen hold meeting

Posted on 29/09/2004

The Emirate of Abu Dhabi and Europe's largest carmaker Volkswagen held a meeting in Abu Dhabi yesterday to discuss a number of projects which the two sides agreed upon earlier this year. They include a project to set up a specialized zone for manufacturing and assembling auto and auto-components in Abu Dhabi. The meeting further touched on various issues with the aim of reaching understanding on mechanism for a joint work so as to move forward with the agreement to the implementation stage. ...  >>MORE

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Quick List

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


Ras al-Khaimah Ceramics expanding production capacity


EMAAR enters manufacturing sector


Dubai Investments Group to establish glass factory


DUBAL accomplishes industry feat


Abu Dhabi's Six Towers to be cooled by Tabreed


DUCAB sales revenue rises to Dh687m


Union Cement signs deal for Dh500m unit


Abu Dhabi group to invest Dh323m in two factories


Dubal boosts generation of power by 45pc


Dubai Design Centre draws good response


RAK Ceramics' profits up to Dh 130 m in 2004


Local industries achieving impressive growth in UAE


Julphar posts 19% rise in profit


DUBAL accounts for 7% of GDP


DUBAL hopes to sell more to China and Japan


Dubai Industrial City to also promote own projects


UAE textile industry set for a major leap


Two factories worth Dh283m being set up in Abu Dhabi


Abu Dhabi plans to step up privatisation


Dubal's expansion is ahead of schedule


Ducab wins Dh 36 million supply contract with FEWA


Dh3b industrial city planned in Sharjah


Dh110 million for Dubal expansion


Dubai Industrial City to be set up near Jebel Ali


UAE cement firms' 2003 sales at Dh1.75 billion


Big 5 records 14% rise in first-day visitor attendance


NMDC achieves nine-month net profit of Dh9.45million


Dubai textile trade pins hopes on Europe


Dedicated free zone project offers endless possibilities


Abu Dhabi industrial investments at Dh15.6 billion


RAK Ceramics to commission Dh368m plant


Nakheel to expand Dubai Design Centre


Tabreed gets contract to supply cooling to Capital Towers


EHG to set up Dh 250 mn pipes plant in Abu Dhabi


UAE tops per capita cement consumption, production


EMAAR Properties launches district-cooling subsidiary


DUBAL refurbishes pipes


Empower wins contract to develop DIFC project


ADCB to set up business centre at Abu Dhabi Industrial City


Abu Dhabi and Volkswagen hold meeting