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THE ECONOMY - INDUSTRIAL DEVELOPMENT

EMAL smelter on target for hot metal production in 2010

Posted on 13/11/2008

Emirates Aluminium (EMAL) CEO, Duncan Hedditch, confirmed at the MEED Abu Dhabi Conference that the UAE's industrial flagship, the world's largest single site aluminium smelter complex, is on schedule to produce hot metal by 2010. As part of the Petrochemicals and Heavy Industries panel at the Conference, Duncan Hedditch presented "From a vision of the future to an emerging reality" incorporating the latest developments on the EMAL site, production updates and a review of milestones achieved. ...  >>MORE

Ducab plans two new plants

Posted on 09/11/2008

Dubai-based Ducab, a regional leader in cable manufacturing, will set up two plants with a total investment of Dh500 million. One of the new plants will be in a neighbouring GCC country – the first outside the UAE for Ducab, Managing Director Andrew Shaw told Emirates Business at the recent Abu Dhabi International Petroleum Exhibition and Conference (Adipec). "By the year-end, we will make an announcement for production expansion in the GCC. It will be our first plant outside UAE and will ...  >>MORE

Industrial capital in UAE manufacturing exceeds US$20 billion

Posted on 04/11/2008

The UAE is investing heavily in its industrial manufacturing sector, stimulated by and the need to diversify the economy and booming economic growth which is fuelling demand for finished products and materials. According to official figures released by the Ministry of Finance and Industry, the total cumulative industrial capital value of all non-oil and gas industrial projects in the UAE now exceeds US$ 20 billion, creating 290,000 jobs. The Middle East Manufacturing Exhibition (MEMEX), ...  >>MORE

Dh2.2bn pumped into industry in 2007 to diversify economy

Posted on 03/11/2008

The UAE pumped nearly Dh2.2 billion into food, chemicals and other manufacturing projects in 2007 as it pushed ahead with an industrial drive to diversify its oil-reliant economy, according to official figures. Dubai emerged as the largest industrial investor last year, with a total capital of around Dh774 million, more than a third of the UAE's 2007 manufacturing investment, showed the figures by the Ministry of Economy. Other key investors were Fujairah and Ras Al Khaimah while Abu Dhabi ...  >>MORE

Industry sector booms

Posted on 30/10/2008

Investment in the UAE's industrial sector is set to rise from Dh72.6 billion in 2007 to Dh100bn by 2010 and Dh120bn in 2012, says a Ministry of Economy official. Saeed Abdullah Al Roken, Director of Industrial Development, said the growth would be driven by major projects such as a Dh22bn aluminium plant and a Dh3bn steel plant in Abu Dhabi. "Several industrial cities are under construction in Dubai and Sharjah as well as the Icad 1, 2, 3 and 4 industrial projects in Al Ain," he added. "The ...  >>MORE

Sheikh Saud opens USD 150 mn Guardian RAK float glass plant

Posted on 29/10/2008

H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, officially inaugurated the new USD 150 million float glass plant of Guardian RAK at a function held at Al Jazeera Al Hamra in Ras Al Khaimah. The Guardian RAK plant, which began full production in September 2007, produces 700 tonnes of glass per day, used in automotive, commercial, residential and furniture applications. Speaking at the ribbon cutting ceremony, Sheikh Saud said, "We are very honoured that ...  >>MORE

EMAL installs first steel beam

Posted on 29/10/2008

Emirates Aluminium (EMAL) has installed the first structural steel for the pot rooms of the world's largest, single-site aluminium smelter complex currently under construction in Al Taweelah, Abu Dhabi. When complete, the EMAL pot rooms will comprise 32,000 tonnes of steel, supplied by Saudi Arabian company, HIDADA, and installed by their UAE subcontractor AMANA, both of whom attended the installation of the first structural steel at EMAL. The EMAL smelter is being built in two phases and ...  >>MORE

Finmeccanica and Mubadala create industrial partnership

Posted on 21/10/2008

Finmeccanica, the Italian leading aerospace company, and Mubadala Development Company (Mubadala), an Abu Dhabi-based business development and investment company, yesterday announced an agreement for a hi-tech industrial partnership. The Italian company will partner with Mubadala to manufacture aerospace composite components for civil aircrafts at the recently announced Abu Dhabi-based composites plant. Alenia Aeronautica, a subsidiary of Finmeccanica, will provide technology, technical ...  >>MORE

19 companies invest more than Dh650 million in constructing factories at Dubai Industrial City

Posted on 20/10/2008

Dubai Industrial City, a member of Tatweer, yesterday announced 19 companies are currently investing more than Dh650 million in the construction of manufacturing units within the township in the base metal, mineral, transport, equipment and parts, as well as the food and beverage zones. Five of the 19 facilities are expected to be completed in 2008, while the remaining are scheduled to start operations by 2009. Rashed Al Ansari, Vice President of Dubai Industrial City, said the heightened ...  >>MORE

AMD, ATIC to create new semiconductor manufacturing company

Posted on 08/10/2008

AMD [NYSE: AMD] and the Advanced Technology Investment Company (ATIC) of Abu Dhabi yesterday announced the creation of a U.S.-headquartered, leading-edge semiconductor manufacturing company to address growing demand for independent, leading-edge foundry production capabilities. The new global company, to be temporarily called "The Foundry Company", will serve this need by combining advanced process technology, industry-leading manufacturing facilities and aggressive plans to expand its global ...  >>MORE

UAE adjudged most attractive market in ME and Africa Region

Posted on 04/10/2008

Dublin — The UAE has once again been judged the most attractive market in the Middle East and Africa (MEA) region, retaining its pole position in London-based Business Monitor International's (BMI) latest Business Environment Ranking table. While not being the largest in size, the market offers plenty of opportunities for growth. Key draws include increasing public and private wealth fuelled by the oil boom, strong and strengthening healthcare infrastructure, approvals of more medicines, a ...  >>MORE

UAE, Ukraine explore new avenues for industrial cooperation

Posted on 07/08/2008

Officials from the UAE and Ukraine yesterday held talks to explore new avenues for cooperation and investments in the industrial sector. The meeting also discussed provisions of a draft agreement on bilateral cooperation which is due to be signed soon. "This agreement will boost our capacity in the industrial sector, particularly in the area of heavy industries where Ukraine is best known", said Saeed Abdullah Al Roukon, Director of Industrial Development at the Ministry of Economy. – Emirates ...  >>MORE

Deal set to foster industrial development

Posted on 20/05/2008

Dubai Export Development Corporation (DEDC) has signed an agreement with the Gulf Organisation for Industrial Consulting (GOIC) to foster industrial development in the emirate. The memorandum of understanding seeks to establish a framework for facilitating co-operation and co-ordination between GOIC and EDC to encourage foreign investment and promote industrial growth. "DEDC continuously strives to optimise the emirate's exports through strategic partnerships and associations with relevant ...  >>MORE

Abu Dhabi witnessing construction boom

Posted on 18/05/2008

UAE's capital has become a key player and a strong competitor in real estate sector in the region, which offers local and foreign companies excellent investment opportunities, writes Sanjay Singh Abu Dhabi is witnessing a construction boom with real estate business GDP share of non-oil sector jumping to about nine per cent, given the huge investments officially estimated at Dh750 billion, according to a report published by the Department of Planning and Economy (DPE). The main feature of ...  >>MORE

Demand for steel to rise by 31% in UAE

Posted on 14/04/2008

There is no shortage of steel and no black market in the metal even though prices have soared in the UAE, says the head of a leading building materials company. "There is still no shortage in the steel market but you have to pay the high prices,” Rizwan Sajan, chairman of UAE-based Danube Building Materials, told Emirates Business yesterday. "There is also no black market because availability is plentiful. Whatever quantity you want is available, it's just that the price has become inflated. ...  >>MORE

UAE Economy Minister, GOIC Secretary General discuss UAE industrial development

Posted on 30/03/2008

Minister of Economy Engineer Sultan Bin Saeed Al-Mansouri and Secretary General of Gulf Organisation for Industrial Consulting (GOIC) Dr. Ahmed Khalil Al-Mutawa' on Saturday discussed ways to further advance the level of performance of the UAE industrial sector. During the discussions which took place in Dubai, the Minister was briefed by Al-Mutawa' on GOIC's strategic services which include conducting feasibility studies on the private and public sectors of the UAE. Al-Mutawa' also gave a ...  >>MORE

UAE Vice President issues a decree to exempt cement, reinforced steel from custom duties

Posted on 13/03/2008

Vice President, Prime Minister of UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, issued a decree, exempting cement and reinforced steel from custom duties until further notice. Sheikh Mohammed issued the decree to keep the momentum of property development investment, which constitute an important component in the economic boom in the UAE. He instructed the Dubai Customs Authority to implement the decision with immediate effect. As per this move, contractors and property ...  >>MORE

Dubai Industrial City achieves great growth in 2007

Posted on 27/02/2008

Dubai Industrial City, the leading industrial destination in Dubai has successfully managed to maximise the use of all its lands in 2007 while achieving a robust growth during the year as it increased its client base to more than 430 industrial investors. Rashed Al Ansari, Chief Executive Officer of Dubai Industrial City, a member of Tatweer, explained that the third largest non-real estate based project in Dubai has succeeded in leasing increasing amounts of industrial lands to meet the ...  >>MORE

RAK signs Dh348 million deal for development of Hulayla Industrial Park

Posted on 12/02/2008

The Government of Ras Al Khaimah yesterday signed a Dh348 million contract with China Harbour Engineering Company LLC to carry out marine works as part of the development and expansion of Hulayla Industrial Park in Ras Al Khaimah. The agreement was signed by Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, and Li Guowei, General Manager, China Harbour Engineering Company LLC, at the Al Dhait Palace here. The marine works contract involves creation of a 2.5- ...  >>MORE

UAE pumps Dh29bn into manufacturing

Posted on 24/01/2008

The UAE has pumped nearly Dh29 billion into manufacturing projects over the past four years and most of the investments have been made by Abu Dhabi. Food, beverages and tobacco had the lion's share of the investments, while chemicals, metals and minerals remained a key target of the country's drive to expand its industrial base and lessen reliance on volatile oil sales. Official figures showed the new investments covered more than 1,000 projects and national investors controlled nearly 85 per ...  >>MORE

Kharbash unveils plan for federal industrial agency

Posted on 27/11/2007

The Ministry of Finance and Industry has finalised a blueprint to set up a federal body for regulating and developing the industrial sector, Dr Mohammed Khalfan bin Kharbash, Minister of State for Financial and Industrial Affairs, unveiled on Monday. 'The logic for creating such a federal authority springs out from the need of a higher body enjoying all powers required to revamp and develop the industrial sector and create a fertile investment ground at bar with international best practices, ...  >>MORE

Masdar and DUBAL sign agreement to monetize greenhouse gas reductions

Posted on 31/07/2007

Masdar, the landmark initiative by the Abu Dhabi Government to promote advanced energy and sustainability, yesterday signed an agreement with Dubai Aluminium Company Limited (DUBAL) to develop and register a project under the Clean Development Mechanism (CDM) of the Kyoto Protocol which will reduce greenhouse gas emissions associated with aluminium smelting. The CDM project, the first of its kind in the Middle East, targets the monetization of greenhouse gas emission reductions resulting from ...  >>MORE

DCCI Launches Dubai Commercial

Posted on 23/07/2007

Dubai Chamber of Commerce and Industry (DCCI) has launched the 19th version of Dubai Commercial Directory 2007-2008 which became a basic reference for businessmen, traders, exporters and entrepreneurs, not only in the UAE, but also on the regional and global levels. The number of companies listed in this new version of the directory has increased by 12,000 companies compared to last year. The launching of the new directory copes with the remarkable increase in the number of the Chamber's ...  >>MORE

Dubai Industrial City rents its land to investors for Dh777m

Posted on 22/07/2007

Dubai Industrial City, a Dubai Holding project, has rented out all its land and 30 new factories will be built this year, according to a top official. "There are 388 new world investors in town and infrastructure contracts worth Dh777 million have been signed to build a network of road and primary services,” Dubai Industrial City CEO Rashid Al Ansari said. The first industrial investor will start production by the end of this year while no fewer than 30 factories will be set up throughout ...  >>MORE

Total value of UAE's investments in industrial sector exceeds Dh70b

Posted on 05/07/2007

The total value of UAE's investments in the industrial sector stood at Dh70.42 billion at the end of 2006, a 3.2 per cent increase compared to 2005, according to the Ministry of Finance and Industry (MoFI). Dubai was in the leading position in terms of the number of industrial establishments, accounting for 40.2 per cent or 1,433 establishments of the country's total, an increase of 138 compared to 2005. Sharjah was second with a 29 per cent share. Ajman with a 14.3 per cent share and Abu Dhabi ...  >>MORE

Industrial investments in UAE hit Dh70.4 million in 2006: Kharbash

Posted on 05/06/2007

The UAE's industrial sector achieved a significant growth last year, with investment touching Dh70.4 million, said Dr. Mohammed Khalfan bin Kharbash, Minister of State for Finance and Industrial Affairs. Speaking shortly before travelling to Riyadh where he will represent the UAE at the 25th meeting of the GCC Industrial Cooperation Committee, Dr. Kharbash said the growth seen by the industrial sector last year constituted an increase of Dhs.22 million over previous year's results. The ...  >>MORE

UAE industrial sector lures record Dh70.4b in 2006

Posted on 05/03/2007

Investment in the UAE's industrial sector hit a record Dh70.4 billion in 2006, an increase of more than 3 per cent compared with Dh68 billion in 2005, according to the Ministry of Finance and Industry. Local investment accounted for more than 86 per cent of the total, amounting to Dh60.6 billion, while investment from other Gulf countries accounted for 2.9 per cent, or Dh2 billion, while foreign direct investment stood at Dh7.74 billion. "Such increase in investment was accompanied by a ...  >>MORE

Region's first -Abu Dhabi Building Material City launched

Posted on 25/11/2006

VIP industry movers and shakers and senior officials, investors and shareholders witnessed the dawn of a new chapter in Abu Dhabi real estate history. In a ceremony held at Emirates Palace Hotel in Abu Dhabi under the patronage of minister of presidential affairs Sheikh Mansour bin Zayed Al Nahyan, Manazel Real Estate has officially launched its first mega-development, Abu Dhabi Building Materials City onto the world stage. "With a total cost of Dh4 billion and a total area of 2.5 million ...  >>MORE

Abu Dhabi Conference 2006 kicks off

Posted on 13/11/2006

Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Planning and Economy Department, opened on Sunday at the Emirates Palace Hotel the Abu Dhabi Conference 2006. Abu Dhabi's key decision makers, government officials and leading industry figures are gathering at this two-day event to define the future landscape of the Emirate's economy. The conferees will present an authoritative view of the business prospects coming up in the Emirate. Delivering a keynote speech at the Abu Dhabi ...  >>MORE

Abu Dhabi's GHC signs joint venture agreement with Japan's Marubeni Corp.

Posted on 09/11/2006

Abu Dhabi's General Holding Corporation (GHC) has signed a joint venture agreement with Marubeni Corporation of Japan to establish a company for trade and investment in Abu Dhabi. Sheikh Hamed Bin Zayed Al Nahyan, Chairman of the Department of Planning and Economy, Chairman of the Board of Directors of GHC and Member of the Abu Dhabi Executive Council signed on behalf of GHC, while Nobuo Katsumata signed for Marubeni. During the press conference after signing of the agreement, Sheikh ...  >>MORE

Snasco group to invest Dh2b in Sharjah Investment Centre

Posted on 21/09/2006

A group of six investors led by property development and investment firm Snasco have launched a mixed-use development in Sharjah to offer industrial space and residential units on a leasehold basis. They are expected to invest Dh2 billion in infrastructure and basic facilities at the development, which they have named Sharjah Investment Centre (SIC). Located near Sharjah International Airport and Hamriyah Port, SIC is the first private sector-led mixed-use industrial development in Sharjah. ...  >>MORE

Industrial sector share in GDP up 11.4pc

Posted on 27/08/2006

The industrial sector is gaining more foothold in the domestic economy, registering a marked increase in its contribution to the gross domestic product, according to a local report. "Industrial sector share in GDP grew 11.4 per cent by the end of 2005 to Dh56 billion from Dh50 billion in 2004," said a report issued by the Abu Dhabi Chamber of Commerce and Industry (ADCCI). "Oil and gas industries contributed 46.8 per cent of the total industrial sector activity while manufacturing sector ...  >>MORE

Sharjah posts record jump in transport machinery exports

Posted on 22/08/2006

Sharjah's exports of transport machinery for cars, aircraft and ships surged significantly by 1175.9 per cent to Dh282.4 million during the first half of this year, up from Dh22.13 million during the corresponding period last year. The total exports of transport machinery rose by 67.79 per cent from Dh460.6 million to Dh772.86 million while the emirate's re-exports of transport machinery increased by 11.9 per cent from Dh438.5 million during the first half of last year to Dh490.44 million ...  >>MORE

Ras al-Khaimah Investment Authority lures Dhs2.5b in investments

Posted on 24/06/2006

In a major boost to the industrial sector of the emirate, the Ras Al Khaimah Investment Authority (RAKIA) has attracted Dhs2.5 billion in industrial investments in its first year of operations. The new industrial investments are spread over the Rakia Free Zone and the Industrial Zone which have registered 86 new firms ever since its launch last year. According to Rakia figures, around 70 per cent of the free zone land of 2.19 million square metres and 80 per cent of the industrial city ...  >>MORE

Abu Dhabi set to privatise sewage system

Posted on 24/06/2006

Abu Dhabi has formally embarked on the privatisation of its sewage system, issuing request for pre-qualifications (RPQ) from international companies, a top official said yesterday. Two separate projects will be privatised an operation, maintenance and management services agreement (OM&MS) for the sewerage networks of the whole emirate including Al Ain and a single build-own-operate and transfer (BOOT) project for the major sewage treatment plants (STPs). Companies must submit initial bids ...  >>MORE

UAE's industrial investments surge to Dh917 billion in ’05

Posted on 23/05/2006

Investments in the UAE's manufacturing sector rose to Dh917 billion last year, according to the Ministry of Finance and Industry. In 2005, the sector recorded investments of Dh70 billion, up 8.4 per cent over the previous year. The manufacturing sector, which has gained new momentum in recent years following the country's economic diversification drive aimed at bolstering the non-oil sector, currently accounts for 19.2 per cent of the gross domestic product, positioning itself as the second ...  >>MORE

Abu Dhabi sets up Dh1 billion-fund for industrial development

Posted on 26/04/2006

A new fund for the development of the infrastructure of the specialized industrial zones with a capital of Dh 1 billion has been unveiled. "The 10 year- closed-end ZonesCorp Fund is an unlisted infrastructure investment vehicle, which will focus primarily on Abu Dhabi emirate's projects," said Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Planning and Economy Department, while addressing the Fund's launch ceremony held at the Emirates Palace Hotel here Monday night. He said the ...  >>MORE

UAE manufacturing sector investment increases to Dh68b

Posted on 09/04/2006

Investment in the UAE's manufacturing sector rose to Dh68.2 billion last year. In 2005 alone, investment was Dh5.3 billion, up 8.4 per cent over the previous year, according to the Ministry of Finance and Industry. At 19.2 per cent, manufacturing is the second largest contributor to the UAE's GDP. "With the government's focused initiative to make the country increasingly safe and investment friendly, the UAE today is considered one of the most suitable destinations for investments ...  >>MORE

UAE group sets up construction equipment assembly unit

Posted on 30/01/2006

Al Wasit Machinery, a leading UAE national-owned company specialising in construction and heavy machinery equipment, is setting up one of the region's first construction equipment assembly plant in Dubai Industrial City (DIC), member of Tatweer. The plant is to be located at the City's Transport Equipment and Parts Zone and will cover an area of almost one million square feet. The agreement to set up the plant was signed by Abdul Qader Ahmed Mohammed, Founder and CEO of Al Wasit Machinery ...  >>MORE

Khalifa reviews models of Abu Dhabi Industrial area project

Posted on 14/11/2005

President His Highness Sheikh Khalifa bin Zayed Al Nahyan yesterday was acquainted with models and blueprints of the Second Phase of the expansion project of Abu Dhabi Industrial City, in the presence of General Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces. The expansions will be affected on a ten kilometres space at the cost value of Dh. 400 million. Work on the infra-structure of the project will commence at the end of ...  >>MORE

Investment in Dubai's manufacturing sector touches Dh26.4 billion

Posted on 11/11/2005

The total capital investment in the manufacturing sector in Dubai touched Dh26.4 billion as of January 2005, with the total value of production touching Dh2.5 billion, according to a recent study of Dubai's manufacturing sector conducted by Dubai Department of Economic Development (DED), according to reports in the UAE's dailies. The study also outlined the industrial policy for the emirate, which is based on a long-term perspective of industrial development and envisages a gradual shift ...  >>MORE

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Quick List

EMAL smelter on target for hot metal production in 2010


Ducab plans two new plants


Industrial capital in UAE manufacturing exceeds US$20 billion


Dh2.2bn pumped into industry in 2007 to diversify economy


Industry sector booms


Sheikh Saud opens USD 150 mn Guardian RAK float glass plant


EMAL installs first steel beam


Finmeccanica and Mubadala create industrial partnership


19 companies invest more than Dh650 million in constructing factories at Dubai Industrial City


AMD, ATIC to create new semiconductor manufacturing company


UAE adjudged most attractive market in ME and Africa Region


UAE, Ukraine explore new avenues for industrial cooperation


Deal set to foster industrial development


Abu Dhabi witnessing construction boom


Demand for steel to rise by 31% in UAE


UAE Economy Minister, GOIC Secretary General discuss UAE industrial development


UAE Vice President issues a decree to exempt cement, reinforced steel from custom duties


Dubai Industrial City achieves great growth in 2007


RAK signs Dh348 million deal for development of Hulayla Industrial Park


UAE pumps Dh29bn into manufacturing


Kharbash unveils plan for federal industrial agency


Masdar and DUBAL sign agreement to monetize greenhouse gas reductions


DCCI Launches Dubai Commercial


Dubai Industrial City rents its land to investors for Dh777m


Total value of UAE's investments in industrial sector exceeds Dh70b


Industrial investments in UAE hit Dh70.4 million in 2006: Kharbash


UAE industrial sector lures record Dh70.4b in 2006


Region's first -Abu Dhabi Building Material City launched


Abu Dhabi Conference 2006 kicks off


Abu Dhabi's GHC signs joint venture agreement with Japan's Marubeni Corp.


Snasco group to invest Dh2b in Sharjah Investment Centre


Industrial sector share in GDP up 11.4pc


Sharjah posts record jump in transport machinery exports


Ras al-Khaimah Investment Authority lures Dhs2.5b in investments


Abu Dhabi set to privatise sewage system


UAE's industrial investments surge to Dh917 billion in ’05


Abu Dhabi sets up Dh1 billion-fund for industrial development


UAE manufacturing sector investment increases to Dh68b


UAE group sets up construction equipment assembly unit


Khalifa reviews models of Abu Dhabi Industrial area project


Investment in Dubai's manufacturing sector touches Dh26.4 billion