Aug 07 2012 |
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Saverglass builds Dh342m plant in UAE
100,000sqm facility comes up in Ras Al Khaimah
The French company, with subsidiaries around the world, has found a new home in the emirate, which entails building its first plant in the Middle East.
The multi-million Euro investment covers 100,000 square metres and will employ 180 people by January 2013.
Karam Al Sadeq, General Counsel/Deputy CEO of Rakia, said: "The strategic move is the product of a well-studied model that highlights the advantages of setting up operation within Ras Al Khaimah. The success of similar enterprises in the past by like-minded establishments forecasts only
Listed among the multitude of advantages, were lower energy costs and great geographical positioning - which spell lower transportation costs to export to South Africa, Australia, Asia, Southern Europe, Argentina, Chili, California and beyond. Also seen as lucrative attributes where lower construction and labour costs, and its position as a Dollar Zone, which provides natural hedging against euro-dollar variations - a very important factor as the company exports one-fourth of its production in US dollar.
Ludovic de Gromard, Deputy Project Manager of Saverglass, said "The Company first became acquainted with Rakia through another French company, ARC International - whose Middle East operations now include a workforce of 1,800. Their positive experience in developing operations with the government authority spawned brand ambassadors for the benefits of working with Rakia".
© Emirates 24|7 2012
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