Friday, May 13, 2011
Gulf News
Abu Dhabi Mulk Holdings, a Dh2 billion net worth multinational company, inaugurated its Abu Dhabi office in Masdar City yesterday, announcing a joint venture between Mulk Holdings and Al Hamed enterprises.
“With the opening and inauguration of the Abu Dhabi office it is expected that Mulk Holdings and Al Hamed enterprises will have an effective strategy to expand the business in order to capture its market share in Abu Dhabi,” said Shaji Ul Mulk, Chairman of Mulk Holdings.
Mulk Holdings has business interests spanning into three sectors: renewable energy, construction materials and heath care.
The joint venture is expected to explore new opportunities in the areas of oil, gas and the petro-chemical industry. “A joint venture in this sector is likely to get a major international oil and gas company as part of this business stream,” said Mulk Holdings in their statement.
Shaikh Khalid Al Hamed, Chairman of Al Hamed enterprises, said that he decided to join hands with Mulk Holdings because their work, especially in the renewable energy sector, is aligned with Abu Dhabi’s 2030 vision.
The company’s business in manufacturing aluminium composite panels has seen a 36 per cent increase in sales in 2011 compared to the same period of 2010.
Mulk Holdings currently has manufacturing bases in Serbia, India, Sri Lanka, United States and the UAE and it is currently looking at expanding into Saudi Arabia and other parts in Europe.
Renewable energy
In renewable energy, the company’s also looking at collaborating with Masdar in areas of solar and renewable energy.
The company is putting up a big industrial park in India which is expected to be in production early next year.
“We are also expanding in Europe. We’re looking into expanding into Poland or Russia,” Ul Mulk told Gulf News.
“It’s a choice of the right location.”
Dh2b
net worth of Mulk Holdings
36%
increase in sales in 2011 compared to last year
Abdel-Krim Kallouche/Gulf News
Cause for applause
Shaikh Khalid Al Hamedn with Farha Marium Khatoon (right) deputy chairman of Mulk Holdings, Shaji UI Mulk Chairman of Mulk Holdings and other guests during the inauguration of the new office of Mulk Holdings at theMasdar building in Abu Dhabi.
By Samia Badih?Staff Reporter
Gulf News 2011. All rights reserved.
