5 June 2005

DUBAI -- UK based Time Group, has signed an agreement with Dubai Silicon Oasis to build and manage the factory to assemble personal computers (PCs), LCD Monitors and Plasma TVs in the Middle East.

Construction of the 260,000 ft2 mulit-purposes High Tech facility will start in January 2006 and phase one  is expected  to be complete before the end of year. A contractual agreement between the two institutions was signed by Shaikh Ahmed bin Saeed Al Maktoum, Chairman, Dubai Silicon Oasis and Tahir Mohsan, chief executive officer, Time Group Middle East.

Shaikh Ahmed said: "Dubai has created DSO to attract the world's most renowned firms in the Hi-Tech Industry to enable the region's transition into a thriving knowledge economy. This is the first time such a large scale manufacturing plant is being set up in the region. The kind of partnership we created with Time Group  assures our capability in providing the suitable environment they prefer to operate. Our goal is to make Dubai a viable alternative for many multinational hi-tech firms from USA, Europe and Asia.

Dr. Mohammed  Al Zarouni, director general, Dubai Silicon Oasis, said: "The Time Group decision to setup a manufacturing and assembly plant at Dubai Silicon Oasis reaffirms the winning strategy which we have developed and implemented to attract and retain global electronics supply chain which includes IC Design, IP development, and manufacturing and system assembly companies. Our key objective is to create a platform equipped with all facilities required by the global-tech firms seeking presence in the Middle East.

The upgrading of the infrastructure and enhancement of the value proposition will continue to as we engage with global leaders for the HI-Tech IT Industry. We understand and recognise the challenges to build a high tech industry in Dubai. The support of the Government of Dubai has been instrumental in our ability to execute the strategy.  We are confident that the DSO project will be a big success and a model for a region thriving to take part in the global IT industry."

Tahir Mohsan, chief executive officer, Time Group Middle East, (TGML), said: " The primary reasons for selecting Dubai in General and DSO in particular lies in the proximity to growth markets, excellent infrastructure and logistics, the ability to meet increasing customer demands and access to readily available workforce in a very competitive tax free operating environment. At full capacity, the factory output will exceed more the 1 million units and employee more than 1200 people.

The total investment in facility, equipment and people is expected to exceed Dh 150 Million over 5 years.  The Dubai plant is Time Group's third manufacturing facility after UK and China. With the addition of the new Dubai factory, Time Group available capacity will exceed 3 million units per year.

BY A STAFF REPORTER

© Khaleej Times 2005