Dubai Investments PJSC (DIC) plans to invest an additional USD 218 million in its Emirates Glass unit by 2014, as well as in glass companies in Qatar, India and Iraq.
Dubai Investments PJSC (DIC), the owner of stakes in more than 40 companies, said it plans to invest an additional USD 218 million in its Emirates Glass unit by 2014.
The company has opened a new post-temperable coating line that aims to boost production capacity to over 3.5 million square metres, according to a company statement.
The Emirates Glass coating line was inaugurated by the UAE Minister of Economy Sultan Bin Saeed Al Mansouri.
Speaking on the occasion, Khalid Bin Kalban, managing director and chief executive officer of Dubai Investments, noted: “Reinstating Emirates Glass’ position as a pioneer in adopting technological innovations, the new coating line will enable the company to capitalize more effectively on the burgeoning demand for energy-efficient architectural glass.”
DI has already invested in four glass factories in the United Arab Emirates and the next years’ expenditure will also be used to invest in glass companies in Qatar, India and Iraq.