9 October 1997: Commercial production has now begun at Dubai Investments“ Dh70 million (US$19 million) Emirates Glass factory, the company announced at the end of September. Dubai Investments has a 6…
9 October 1997: Commercial production has now begun at Dubai Investments“ Dh70 million (US$19 million) Emirates Glass factory, the company announced at the end of September. Dubai Investments has a 60% stake in Emirates Glass. The rest is held by Abdulla Saeed bin Thani. In a statement, Emirates Glass said the plant has capacity for 1.5 million square metres of glass a year and was set up to meet the growing demand from the construction industry for high quality coloured and toughened glass sheets. “The company is projecting an annual turnover of Dh65 million for the calendar year 1998, Dh100 million for the year 1999, to reach a figure of Dh110 million by the year 2000,” Dubai Investments General Manager Khalid Kalban said. The statement said that half the factory“s output would be marketed in the United Arab Emirates and the rest would be exported. Emirates Glass is targeting Saudi Arabia, Egypt, Lebanon, Turkey, Iran and India. It is also looking at exporting to the Far East.