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THE ECONOMY - INDUSTRY

GCC finalises first guide on industry investment

Posted on 14/02/2003

The Gulf Arab states have finalised the first comprehensive guide on industrial projects and investment opportunities in the region and officials said it would help members plan better in their economic diversification programmes in the manufacturing sector. The Doha-based Gulf Organisation for Industrial Consulting (GOIC), which advises on manufacturing policies in the GCC, prepared the 2003 industrial directory, which coincides with the enforcement of a landmark customs union in the ...  >>MORE

UAE third among Arab manufacturers

Posted on 10/02/2003

The UAE has become the third largest manufacturer in the Arab world after Egypt and Saudi Arabia. "There are 2,000 industrial units in the country, predominantly involved in the manufacture of building materials, equipment and machinery, auto spare parts, chemicals, paper and metals," said a Bank of Sharjah report issued yesterday. It also said the banking sector would have charted a 7-10 per cent consolidated profit jump in 2002 to exceed Dh5 billion for the first time. This would be on the ...  >>MORE

ESC forecasts Dh 29.3 m for 2003

Posted on 30/01/2003

Net profits of the Emirates Services Corporation (ESC) are expected to rise to Dh 29.3 million in 2003 from Dh 27 million in 2002. Ali Al Nuaimi, Corporation Director, said after a meeting held yesterday by the board of directors to approve the 2003 budget, that revenues are projected at Dh 482.5 million against expenditure of Dh 452.8 million. The board, he said, will meet by March-end to endorse the closing accounts for the year ending December 31, 2002. The company employs 9,729 personnel, ...  >>MORE

Service fees amended

Posted on 13/01/2003

His Highness Sheikh Maktoum bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, issued here yesterday a decision amending some service fees levied by the Emirates Authority for Specifications and Measurements. According to the decision, the fees for compliance with the required vehicles and tyres specifications will be amended to "fees for authorising the certificate of compliance with specifications and models of new vehicles imported directly from the ...  >>MORE

Tabreed set to become one of the world's largest district coolers

Posted on 12/01/2003

The National Central Cooling Company (Tabreed) is set to become on of the world's largest district cooling service providers over the next two years. At present, the company has total installed capacity of about 75,000 tons of district cooling, which will rise to 170,000 tons by the end of 2004, with the addition of seven new plants in the UAE, said a report in the latest publication of the UAE Offsets Group, UOG. To fund its rapid growth, Tabreed is also to become the third listed company ...  >>MORE

Plastic pipe plant to open in Mussafah

Posted on 04/01/2003

Sheikh Hamed bin Zayed Al Nahyan, chairman of Abu Dhabi Economic Department, opens today the Union Factory for Polyethylene Pipes at Mussafah Industrial Zone. Sheikh Hamed, also chairman of General Industry Corp, will tour the 72,000 square metre-factory, which constitutes a new addition to the major economic and industrial facilities in the emirate. Director general of the plant Mohammed Hajib said the Dh40-million plant will produce 15,000 tonnes of multi-purpose plastic pipes a year ...  >>MORE

Dubal expects to beat sales target

Posted on 24/12/2002

Dubai Aluminium Co Ltd (Dubal) expects to surpass its annual sales target of 550,000 tonnes by 10,000 tonnes this year. Meanwhile, the company marked six million tonnes of production since its inception in 1979. It has set a sales target of 600,000 tonnes for 2003 and plans to start the first cell of its Kestrel expansion on September 1, announced Abdullah Kalban, Dubal general manager, smelter operations. Of the 600,000 tonnes target next year, 70,000 tonnes will be exported to Dubal's ...  >>MORE

Al Ain vegetable canning factory plans expansion

Posted on 20/12/2002

Al Ain Vegetable Processing and Canning Factory plans to expand the production capacity of all kinds of packed beans by May next year. Efforts are also afoot to acquire Sheikh Khalifa quality certification from the Abu Dhabi Chamber of Commerce and Industry. The certification is one of the most prestigious quality awards in the Emirates. The factory, which is one of the region's leading facilities for tomato and vegetable processing, has already attained the HACCP, ISO 9001 and ISO 2000 ...  >>MORE

Rak Ceramics opens its tenth plant

Posted on 10/12/2002

Rak Ceramics - which claims to be world's biggest manufacturer of gres porcellanato tiles, commissioned its tenth plant at its Ras Al Khaimah manufacturing base thus achieving the milestone of commissioning two plants in a year. The first plant was commissioned in January for the production of small tiles in 10x10 cm and 15x15 cm format. The new plant will have a capacity of 30,000 square metres of ceramic wall and floor tiles per day in sizes 20x30, 25x33, 25x40, and 33x33 and 40x40 cm. It ...  >>MORE

RAK Ceramics to invest Dh140m in expansion

Posted on 08/11/2002

RAK Ceramics will invest Dh140 million in expansion, including Dh60 million in a 30,000 square metre per day production plant. This will raise its capacity to 132,000 square metres of ceramic and gres porcelain tiles per day. A further Dh60 million will be used to establish a plant in China, while another Dh20 million will be spent on a plant to produce an additional 1,000 pieces of vitreous china sanitary ware per day, from an output of 5,000 pieces. The company has set up manufacturing ...  >>MORE

Emirates Iron and Steel to boost output

Posted on 05/11/2002

The US$130 million Emirates Iron and Steel Factory is currently producing 250,000 tonnes per annum of steel reinforcing bars, but plans to double production next year, officials said yesterday. Plans are on tap to export some 15 to 20 per cent of production to neighbouring GCC markets. Sultan Al Zaabi, acting general manager of the General Industries Corp (GIC) owned factory told reporters at the plant yesterday that the design capacity of the plant, the largest such plant in the UAE, is ...  >>MORE

Masafi sales up 10% in October

Posted on 05/11/2002

Masafi Mineral Water Company, which celebrated its 25th anniversary recently, said its "hugely successful" consumer promotion in October this year has boosted its sales. Masafi said sales in that month were up 10 per cent. As part of its 25th anniversary Masafi ran a promotion that offered consumers the chance to win a dream home worth Dhs449,000 at the new Jumeirah Beach Residence complex in Dubai and thousands of other fabulous prizes. Masafi Zeina Mouhawej Marketing Manager said the ...  >>MORE

UAE set to lift textile ban

Posted on 25/10/2002

The UAE is set to lift an eight year-old ban on the establishment of new ready-made garment and textile factories in line with rules by the World Trade Organisation (WTO) requiring member states to tear down financial and trade barriers, a daily paper reported. According to a report run by the Gulf News, the Ministry of Finance and Industry has sent a letter to federal government offices and clothes factory owners asking for proposals on the re-opening of one of the most important non-oil ...  >>MORE

Government agencies expand online offerings

Posted on 26/09/2002

The UAE is intensifying an advanced online drive to promote industrial projects within economic diversification programmes by allowing investors to obtain licences and other requirements with a few clicks on their computer terminals. Apart from financial and tax incentives for manufacturing ventures, the Ministry of Finance and Industry said a new incentive includes e-mail processing of industrial ventures for investors and the new measure would be continuously updated in the future. ...  >>MORE

Chemical plant coming up in Capital

Posted on 26/09/2002

A new Dh60 million chlor-alkali plant to produce ultra-pure chemicals is being set up in Abu Dhabi's industrial city by Al Jaber Group. The state-of-the-art plant will be financed by debt and equity with Emirates Bank International providing the loan. Incorporated early this year, Safewater Chemicals LLC, a 100 per cent nationally-owned company, will build and operate the plant. Commercial operations will start in the second half of 2003. "It is the first such plant in the UAE, and perhaps in ...  >>MORE

Tabreed seeks remaining capital

Posted on 05/09/2002

Tabreed or the National Central Cooling Co has asked its shareholders to pay the remaining Dh5 per share between September 25 and October 24. The company with an authorised capital of Dh500 million has an issued capital of Dh250 million as of now. Of the 50 million shares with a face value of Dh10, only half, Dh5, have been paid. Tabreed is the only company in the UAE to offer district cooling utilities, and has more than 75,000 refrigerating tonnes under contract. Several projects are under ...  >>MORE

UAE auto mart looks to healthy growth this year

Posted on 14/08/2002

Quite contrary to what was projected at the start of the year, the local automobile market could still witness a 5 to 8 per cent growth for 2002, according to industry sources. The renewed optimism stems from a much better than expected performance during the first half of the year. Sales of Japanese makes alone rose about 14 to 15 per cent during the period. Also, the re-entry of Ford into the UAE market, and the generally favourable response it has elicited to date, has created the need to ...  >>MORE

Garment output in UAE seen sliding

Posted on 12/08/2002

The level of garment production in the UAE is likely to have been hit badly this year as many local manufacturers look to overseas factories to beat the U.S. quota restrictions on exports from the country. According to industry sources, the level of local production could have come down between 15-20 per cent this year. The closure of many small facilities in the last few months has also led to the decline. While there had been instances of local manufacturers looking to overseas markets for ...  >>MORE

Dubal vies for stake in US$2.1b Asian smelter

Posted on 10/08/2002

Dubai Aluminium Company Limited (Dubal) said yesterday it was vying for a stake in a US$2.1 billion aluminium smelter that planned to take power from Malaysia's Bakun dam project in Sarawak. "Dubal has been evaluating the setting up of an aluminium smelter to utilise the power produced by Bakun for over a year and initial studies have been completed," the company said in a statement timed to coincide with a trip to Malaysia by Mohammed Alabbar, Dubal vice-chairman. "Alabbar's visit is ...  >>MORE

Furniture sector investments stand at Dh493 million

Posted on 10/08/2002

The UAE furniture and manufacturing industries sector has 236 firms with a total investment of Dh 493 million and workforce of 11,418 workers, according to the Ministry of Finance and Industry's annual statistical report for 2002. 'There were 5 firms in Abu Dhabi investing Dh 25 million and employing 230 workers, 92 firms in Dubai investing Dh152 million and employing 4,063 workers, 107 firms in Sharjah investing Dh282 million and employing 5,576 workers, 25 firms in Ajman investing Dh23 ...  >>MORE

Dubal signs Dh367m loan with ADCB

Posted on 31/07/2002

Dubal has entered into a Dh367 million (US$100 million) loan agreement with Abu Dhabi Commercial Bank, to finance its Dh3.3 billion Kestrel upgrade and retrofit project. To finance Kestrel, Dubal had recently signed a loan agreement for Dh367 million (US$100 million) with National Bank of Abu Dhabi (NBAD) and two more to the tune of Dh367 million (US$100 million) and Dh734 million (US$200 million) with Mashreq-bank and Citibank respectively. Other deals concluded with Dubal earlier were a ...  >>MORE

NBAD, Dubal sign Dh367m deal

Posted on 27/07/2002

Dubal has signed a loan agreement for Dh367 million (US$100 million) with National Bank of Abu Dhabi (NBAD). The bilateral term loan agreement was signed yesterday as scheduled at the Dubai office. While Abdulla Ghobash, regional manager, northern emirates, NBAD signed for the bank, Dubal was represented by the CEO of the company, John Boardman. It was last week Mashreqbank and Citibank signed bilateral deals to the tune of Dh367 million (US$100 million) and Dh734 million (US$200 million) ...  >>MORE

Special Report: Investment in manufacturing sector rises

Posted on 26/07/2002

Total capital investment in UAE's manufacturing sector is on the rise and reached Dh4 billion in 2000, which was 41.3 per cent of capital formation in the whole economy that year, according to a report released by the National Bank of Dubai. The sector witnessed a seven per cent growth during the last few years and its contribution to UAE's GDP rose to 19.3 per cent last year from 16.5 per cent in 2000 and 13.8 per cent in 1996. The manufacturing sector's contribution to UAE GDP last year ...  >>MORE

Dubal in Dh1.1b deals with banks

Posted on 23/07/2002

Citibank UAE, part of Citigroup, and Mashreqbank, have signed two separate bilateral term loan agreements yesterday - Dh734 million (US$200 million) and Dh367 million (US$100 million) respectively, with Dubal to support Dubal's ambitious Kestrel upgrade project. Besides securing the largest share of the loan arrangements for the Kestrel project, Citibank UAE is also involved in an electronic payment system, for making supplier payments through their system which is integrated with Dubal's ...  >>MORE

Ducab records 30 per cent rise in production levels

Posted on 07/07/2002

Dubai Cable Company (Ducab) has recorded a 30 per cent increase in production levels across the entire product range and more than doubled the production of medium voltage (33KV and 11KV) cables in the second quarter of 2002, compared to the corresponding period last year. The impressive performance is the result of several initiatives taken by the management to enhance and upgrade working practices within the company in addition to extensive investment in recent expansion schemes designed to ...  >>MORE

Full steam ahead for Dubal expansion

Posted on 02/06/2002

Plans at Dubai Aluminium Company (Dubal), to expand the existing smelter at Jebel Ali are taking shape with the award of an estimated 41 million US dollar contract to France's Alstom for the first element on the infrastructure development package. The contract covers the extension of kilns 1, 2 and 3, according to a report in the Middle East Economic Digest (MEED). In mid-November, Dubal announced that it will carry out a 155,000 ton- a- year expansion. The expansion is being driven by Dubal's ...  >>MORE

NMDC net profit rises to Dh 132.45 million

Posted on 18/05/2002

National Marine Dredging Co (NMDC), engaged in the business of land reclamation and marine dredging, has earned a net profit of Dh132.45 million, an impressive 154 per cent increase over the previous year. The Abu Dhabi Securities Market (ADSM) listed company has declared a dividend of Dh35 per share (face value Dh 100), the same as last year at its annual general meeting yesterday. Earnings Per Share (EPS) went up to Dh132.45 end-2001 from Dh52.13 in 2000, the company's annual report released ...  >>MORE

Demand for footwear rising in the UAE: EIB study

Posted on 06/05/2002

After a period of constancy in the mid-nineties, demand for footwear in the UAE has again shown signs of growth in recent years. Between 1996 and 1999, demand for leather footwear alone grew at almost nine per cent per annum. The footwear manufacturing industry, which emerged in the 1990s, is also likely to grow, according to a new study by the Journal of the Emirates Industrial Bank, EIB. The EIB study said that demand for footwear is rising because of an increasing population, improved ...  >>MORE

Tabreed reports lower net

Posted on 29/04/2002

Tabreed, the National Central Cooling Company PJSC, yesterday announced net profits of Dh2.7 million for 2001, a drop of 12.9 per cent over the previous year. A press release from the company said Tabreed's provisional financial results have reported gross profits of Dh7.92 million, which is a phenomenal increase over last year's Dh43, 207. However, overall net profits declined to Dh2.7 million compared to Dh3.11 million achieved in 2000. During the year Tabreed generated Dh9.3 million as net ...  >>MORE

Tabreed's net profit at Dh2.7m

Posted on 22/04/2002

The National Central Cooling Company PJSC (Tabreed) on Sunday announced a net profit of Dh2.7 million for 2001. Tabreed's net profit in 2000 was Dh3.11million. Total revenues for the year ending Dec.31 2001 grew by a record 1,918 per cent, Tabreed said in a statement. Tabreed's provisional financial results reported a gross profit of Dhs7.92 million, which the company termed as a "phenomenal increase" over 2000. The company generated Dhs9.3 million as net cash from the supply of chilled water ...  >>MORE

Julphar reports Dh333m turnover

Posted on 18/04/2002

Gulf Pharmaceutical Industries (Julphar) marked 2001 with double-digit growth to record turnover of Dh333 million as against Dh283 million in 2000, "Gulf News” reported today. Sheikh Saud bin Saqr Al Qasimi, chairman, told the AGM that the parent company contributed 80 per cent of group sales in 2001 down 2 per cent over 2000 reflecting improved performance by subsidiaries. Sheikh Saud said the increase in net profit reflected a growth of 11 per cent to Dh36.3 million from Dh32.8 million. ...  >>MORE

RAK Ceramics profit crosses Dh106m

Posted on 09/04/2002

Ras Al Khaimah Ceramic's net profit last year crossed Dh106 million - of which 20 per cent was distributed in cash to shareholders yesterday. Sheikh Saud bin Saqr Al Qasimi, chairman, RAK Ceramics, said the company's sixth site had just started operating and the seventh will be ready by January. Of the net profit of Dh106 million, Sheikh Saud said a large amount was dedicated to expansion. During last year, many experiments and feasibility studies were conducted and the most advanced machinery ...  >>MORE

Dubai Industry e-edition on DED website

Posted on 01/04/2002

The electronic edition of Dubai Industry was recently put on the Dubai Department of Economic Development's (DED) website. The issue includes topics on standards in trade and industry, investment opportunities in the manufacturing sector in Dubai, franchising, new industrial licenses and industrial news. The web contains data, information, statistics and opinions useful to readers. There are ambitious plans to enrich the magazine by covering various issues concerning industrialists, investors, ...  >>MORE

Three rock crushing units shut in Fujairah

Posted on 21/03/2002

Rashid Hamdan Abdullah, Director of Fujairah Municipality shut down three rock crushing units in Fujairah's Al Siji on 17 March, after they failed to meet environmental standards. The conditions in the units contravened strict directives issued by His Highness Sheikh Hamad bin Mohammed Al Sharqi, Member of the Supreme Council and Ruler of Fujairah. The three quarries will remain closed until they meet legal criteria and bring down the levels of dust. ...  >>MORE

Natural salt becomes a business

Posted on 07/03/2002

A market has been found for common salt found naturally in a lake on the Ras Al Khaimah-Umm Al Quwain Road. The salt is unfit for human consumption, but a local businessman is selling the salt to builders of traditional ovens. The salt is also exported to Europe where it is used to thaw ice on the roads. Traditionally in the past salt was used in the Emirates to dry fish. ...  >>MORE

UAE ranks third in Arab industry

Posted on 25/02/2002

Massive capital and government incentives for the private sector to launch manufacturing ventures have turned the UAE into the third biggest industrial power in the Arab world, and the sector is set for further growth in future. Figures by Abu Dhabi-based Arab Monetary Fund (AMF) showed the industrial sector's contribution to the UAE gross domestic product stood at around US$7.8 billion in 2000, and is expected to have grown by at least 5 per cent last year as a result of fresh private ...  >>MORE

Furniture manufacturing industry witnesses steady growth

Posted on 25/02/2002

The furniture manufacturing industry in the UAE has witnessed steady growth, given the pace of economic development, population growth and the corresponding rise in housing facilities. According to the latest figures from the Ministry of Finance and Industry, the number of furniture manufacturing establishments increased by 36.7 per cent from 158 in 1998 to 216 in 2000, according to a report in "Gulf News”. The accompanying labour growth showed a 35.3 per cent rise, from 7,955 workers in ...  >>MORE

UAE 2001 GDP falls to Dh249b ($67.8b)

Posted on 21/02/2002

The UAE's gross domestic product, GDP, fell by four per cent in 2001 compared to 2000, according to a report on 16 February by Sheikh Humaid bin Ahmed Al Mualla, Minister of Planning. He said ‘the GDP reached Dh249 billion ($67.8 billion) in 2001, compared to Dh259 billion ($70.5 billion) in 2000 and oil prices fell by 16 per cent from an average of $27.6 per barrel in 2000 to $23 per barrel in 2001'. The minister said that ‘oil sector revenue was down 17 per cent in 2001 compared to ...  >>MORE

UAE minerals sector records significant growth

Posted on 13/02/2002

The UAE minerals sector has recorded a significant growth over the last few years, according to a study. The study, conducted by the Dubai Chamber of Commerce and Industry said that due to the support which the sector received from both the private and public sectors, it has now become the bedrock of the industrial sector in the country, contributing a significant chunk in the national economy. The sector attracted Dh6.14 billion in local investments, Dh14 million in GCC investments and Dh255 ...  >>MORE

DED looking at new industrial projects

Posted on 11/02/2002

Encouraged by the interest shown in the 18 industrial projects worth Dh1.9 billion offered earlier, a fresh list of projects for small and medium industries is being prepared by the Dubai Department of Economic Development. Meanwhile, the 18 projects with a projected 2.9 per cent contribution to Dubai's GDP – are entering serious implementation phases. The industrial sector's contribution to Dubai's GDP has generally risen from 1.4, 4.3, 7.9, 7.5, 11.4 and 15.9 per cent in 1975, 1980, 1985, ...  >>MORE

Sharjah small-scale industries record major boom

Posted on 06/01/2002

Sharjah Emirate recorded an unprecedented growth in the sector of small-scale industries from 1998 to 2000, according a report. The emirate recorded a significant rise in the number of small-scale industries from 821 firms in 1998 to 931 in the year 2000. Capital also increased during this period from Dhs57 million to 466 billion, registering a soaring growth of 38.7 per cent. According to the annual statistical book published by the Sharjah Department for Economic Development, the workforce of ...  >>MORE

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Quick List

GCC finalises first guide on industry investment


UAE third among Arab manufacturers


ESC forecasts Dh 29.3 m for 2003


Service fees amended


Tabreed set to become one of the world's largest district coolers


Plastic pipe plant to open in Mussafah


Dubal expects to beat sales target


Al Ain vegetable canning factory plans expansion


Rak Ceramics opens its tenth plant


RAK Ceramics to invest Dh140m in expansion


Emirates Iron and Steel to boost output


Masafi sales up 10% in October


UAE set to lift textile ban


Government agencies expand online offerings


Chemical plant coming up in Capital


Tabreed seeks remaining capital


UAE auto mart looks to healthy growth this year


Garment output in UAE seen sliding


Dubal vies for stake in US$2.1b Asian smelter


Furniture sector investments stand at Dh493 million


Dubal signs Dh367m loan with ADCB


NBAD, Dubal sign Dh367m deal


Special Report: Investment in manufacturing sector rises


Dubal in Dh1.1b deals with banks


Ducab records 30 per cent rise in production levels


Full steam ahead for Dubal expansion


NMDC net profit rises to Dh 132.45 million


Demand for footwear rising in the UAE: EIB study


Tabreed reports lower net


Tabreed's net profit at Dh2.7m


Julphar reports Dh333m turnover


RAK Ceramics profit crosses Dh106m


Dubai Industry e-edition on DED website


Three rock crushing units shut in Fujairah


Natural salt becomes a business


UAE ranks third in Arab industry


Furniture manufacturing industry witnesses steady growth


UAE 2001 GDP falls to Dh249b ($67.8b)


UAE minerals sector records significant growth


DED looking at new industrial projects


Sharjah small-scale industries record major boom