Emirates Float Glass LLC set to commence operations by mid 2008

Dubai Investments PJSC, the largest investment company listed on the UAE stock exchange has announced that its Green Field Venture, Emirates Float Glass (EFG) LLC is shaping up well in its bid to become the UAE’s leading integrated glass manufacturing & processing facility and will commence operations by mid 2008.

Set up with an investment of over USD 200 million, the facility is located in Abu Dhabi, the capital city of the UAE.

The construction of the world class manufacturing facility is progressing as per schedule and the last few months have witnessed a huge momentum in activities with respect to civil, structural and machinery works. Major equipment and utility modules have arrived on site and installation is in progress for all process equipment. The synergy of integration and coordination with various agencies involved in this prestigious project has been exceptionally intensive and successful so far. The plant is expected to be in operation in the second half of 2008 delivering 600 tons of high quality float glass products per day.

The Board of Directors of EFG LLC reviewed the Construction & Commissioning activities of its Float Glass plant and expressed immense satisfaction at the overall progress of the project so far. “We are delighted to announce that our management team, comprising of the finest industry professionals, is in place. We have also finalized a comprehensive plan for EFG, beginning with the procurement of raw materials through production to delivery including logistics solutions for our customers, which is ready to be set into motion” said Khalid Kalban, Chairman of the Board of Directors of EFG and MD&CEO of Dubai Investments PJSC.

Kalban added “the plant will employ approximately 300 people and is expected to generate 1000 additional jobs in related supplies and logistics industries under phase 1, thereby supplementing the initiatives of the Federal Govt. towards industrial and economical development of the country.”

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