New production plant will make EFG the region's largest single-location float glass manufacturing facility with a total capacity of 1,200 tons per day

Dubai - July 15, 2008:  Emirates Float Glass (EFG), a subsidiary of Glass LLC, wholly owned by Dubai Investments PJSC, has signed an AED 575 million contract with Italian engineering firm Ianua S.p.A for the construction and supervision of its second float glass manufacturing facility in Abu Dhabi. The project is being set up with technological licensing agreement with PPG, USA.

The construction of the new plant, which complements the company's existing production unit in the Abu Dhabi Industrial City, will enable Emirates Float Glass to become the largest single-location float glass manufacturing facility in the region. The two factories, covering a total area of 320,000 square meters, will have a combined production capacity of 1,200 tons per day.

Commenting on the agreement, Khalid Kalban, Chairman of EFG and Managing Director and CEO of Dubai Investments, said, "With the signing of this contract, the implementation of Phase II of EFG's expansion plan has been set in motion. Construction work on the new plant will commence immediately, and we are confident the project will be completed on schedule and within budget."

Kalban added, "Emirates Float Glass was founded with a vision to become the largest float glass manufacturer in the region, and the launch of this second production unit marks a significant step in realizing our strategic objectives. This expansion project will help to considerably boost EFG's business readiness and will allow us to quickly and efficiently cater to the diverse needs of our growing customer base."

"The Board of Directors of EFG had recently approved the implementation of a second float line with an additional capacity of 600 tons per day, following a review of the construction and commissioning activities of the first plant, which is set to commence operations in the second half of 2008. The plant will manufacture a range of products that will cater to the varying needs of architectural, automotive, decorative and other segments in glass business" stated N.D. Mohanty, General Manager of EFG.

Ianua S.p.A is a leading Italy-based company that specializes in designing and building machinery and plants used in glass process transformation. The company is a part of the Finind Group.

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Sue-Ellen Lazrado
Headline Public Relations
Tel: 9714 - 2289655 Ext 120
Fax: 9714 - 2282125
Email: sue@headlinepr.com

© Press Release 2008