Dubai Investments, Qatari Firm To Launch $20m Glass Company

Glass LLC, the glass arm of Dubai Investments PJSC, has announced that it has recently partnered with Abdullah Abdul Ghani & Sons group of companies to launch a new $20 million (Dh73.46 million) Qatari-based glass company, in a move that aims to address the demand for glass and glass products in Qatar's flourishing construction industry.The announcement was made during a Press conference held yesterday in Doha.

Under the terms of the agreement, Glass LLC will secure a 49 per cent share, and in return will provide technical and management expertise, including transfer of know-how, technology, licence, management and personnel.

Abdullah Abdul Ghani & Sons group of companies will secure the remaining share of the investment and will provide the venture with the local knowledge and support mainly through its subsidiary A&C Abdul Ghani & Cardahi Construction and Installation Co., experienced in establishing industrial projects in Qatar.

When operations begin in the near future, the new company will produce, cut, temper, laminate, assemble and supply high-performance glass for architectural and construction purposes in Qatar, and eventually expand its operations region-wide.

"Dubai Investments is pleased to be at the forefront of another key regional partnership, which will help us effectively deal with the shortfall of high-quality and environmentally friendly glass in Qatar. Dubai Investments has been very keen on expanding its presence in the region, and the massive construction and real estate boom in Qatar has provided us with the perfect opportunity to proceed with our expansion program," said Khalid Kalban, managing director and CEO, Dubai Investments.

Read the entire story on the source link below.

600450 Dubai Investments, Qatari Firm To Launch $20m Glass Company
Date: 30 July 2007

See more news about:

See more from these topics:

Others also read

Construction of AED 550mn MAG 318 due to complete in Q4 2019.
Strohmeier will drive Building Technologies business for digitalized infrastructure in the Middle East.
More than 180 countries will participate at event which is expected to receive 25mn visitors.
dmg events Middle East, Asia & Africa, the leading international exhibition and publishing company, has announced that the 2018 edition of the Windows, Doors & Facades (WDF) event will take place from 23 – 25 September at the Dubai World Trade Centre.
The event will be co-located with the all new HVACR Expo, the Urban Design & Landscaping Expo, and The Big 5 Solar.
The one-day conference focused on different aspects of the architectural glass sector, and included presentations by experts from leading international glass companies and related industries.

Add new comment