The shareholders of EFG recently approved the implementation of a second float line, 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, and of the company’s strategic plans for the future. The shareholders, comprising high-profile investors from the GCC, expressed satisfaction with the overall progress of the project and were upbeat about the future initiatives of EFG.
“The approval of a second production facility is demonstrative confidence of the shareholders in the EFG management, and is equally an acknowledgement of the excellent overall progress of construction in the first phase,” said Khalid Kalban, Chairman of the Board of Directors of EFG and the MD & CEO of Dubai Investments. “This strategic expansion will significantly boost EFG’s business readiness and enable the company to emerge as a truly world-class player in the regional glass solutions business.”
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