DIC confirms Dhs1b in investments at Make it in the Emirates Forum - GulfToday

DIC confirms Dhs1b in investments at Make it in the Emirates Forum


Top officials during the signing ceremony at the Make it in the Emirates Forum in the UAE.

Dubai Industrial City (DIC), a member of Tecom Group and one of the region’s largest industrial and logistics hubs, announced that it has attracted almost Dhs1 billion in investments from local and global manufacturing companies during its participation at the Ministry of Industry and Advanced Technology’s (MoIAT) Make it in the Emirates Forum in the UAE.

Investments by local rubber products producer Universal Rubber Belt Manufacturing and local polymer solutions provider Stars Plastics Industries, were among the investments confirmed on the side-lines of the forum, which was organised by the Ministry of Industry and Advanced Technology in cooperation with the Abu Dhabi Department of Economic Development and Adnoc.

The agreement signing ceremony with Universal Rubber Belt Manufacturing was witnessed by Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology; Sarah Bint Yousif Al Amiri, UAE Minister of State for Public Education and Advanced Technology; Malek Sultan Al Malek, Chairman of Tecom Group; and Abdulla Belhoul, Chief Executive Officer of Tecom Group.

Meanwhile Emirates Global Aluminium (EGA) also signed agreements at the “Make it in the Emirates Forum” that could lead to more than Dhs1 billion of industrial investments in the UAE.

The MoUs were signed in the presence of Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, by Abdulnasser bin Kalban, Chief Executive Officer of Emirates Global Aluminium, and senior leaders of the potential investor companies.

EGA and Sunstone signed an agreement that could lead to the development a new carbon anode manufacturing facility in the UAE. Carbon anodes are consumed in the aluminium smelting process. Sunstone is the largest producer of carbon anodes in China.

Dubai Industrial City’s investments reflect growing confidence in its holistic ecosystem as an enabler of sustainable, long-term growth, in line with the Operation 300bn and Dubai Economic Agenda ‘D33’ strategies to increase the industrial sector’s overall economic contribution and localise supply chains.

Commenting on the investments, Saud Abu Alshawareb, Executive Vice President – Industrial Leasing at Tecom Group, said: “Government initiatives such as Operation 300bn and Dubai Economic Agenda ‘D33’ are shedding light on the growth potential of the UAE and Dubai’s industrial sector, attracting more investors and innovators to leverage our business-friendly legislation, high-quality infrastructure, and global connectivity to ‘Make it in the Emirates’.

“Dubai Industrial City’s strategic partnership with MoIAT and our #MakeBrilliance initiative are aligned with the long-term goal of helping our customers – existing and new – unlock opportunities to establish and expand their business in Dubai, the gateway to the Mena region and a global hub for doing business. Our new agreements will boost the local market for the ever-expanding pool of ‘Made in UAE’ products that are steadily gaining buyer confidence in the global market.”

EGA produces some 1.2 million tonnes of carbon anodes every year at its carbon plants in Jebel Ali and Al Taweelah; the remainder of the company’s need is currently imported. Production from the new carbon anode manufacturing facility in the UAE would entirely replace these imports, and additional capacity could supply other aluminium smelters in the Middle East.

EGA Chief Executive Officer commented, ”EGA is at the heart of one of the UAE’s most important industrial sectors, and we are committed to growing our economic contribution further in line with Operation 300bn, including by using our demand to localise our supply chain. These agreements are progressing towards that goal, and I look forward to developing these new industrial facilities in the UAE, creating jobs and contributing to prosperity.”

Lang Guanghui, Chairman of Sunstone, said, “The UAE is a strategic location for industrial investment, with industrial champion companies like EGA and access to the wider Middle East region. We look forward to progressing this project, growing our international operations and contributing to the UAE’s economy.”

EGA also signed a Memorandum of Understanding with VCI, an Indian disinfectant and carbo-chemicals producer, that could lead to development of a pitch melting and processing facility in the UAE. This facility would be the first of its type in the region. Liquid pitch is a raw material in producing carbon anodes for aluminium smelting and is also increasingly used in manufacturing batteries for electric vehicles.

The Make it in the Emirates Forum was held under the theme ‘Investment, Sustainability, Growth’ this year, and acts as a platform for corporations and the government to discuss opportunities, address challenges, and explore the competitive advantages available in the UAE, such as incentives, enablers, infrastructure, financing, and partnerships.

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