The high-value project, which spans four plots and occupies a total area of 280,000 square metres (sqm), underscores the sustained influx of high-stakes investments into the emirate and is expected to further strengthen Ras Al Khaimah's status as a prime global investment destination.
The state-of-the-art factory will be one of the largest glass-processing facilities in the region with up to 1,000 sqm glass processing capacity per day, providing clients in theregion a complete array of world-class solutions for their processed glass requirements.
The GGS facility will manufacture all kinds of processing glass and will initially cater to markets in the UAE and the rest of the GCC.
Speaking on the occasion, HH Sheikh Saud bin Saqr Al Qasimi said: "The GGS facility is a timely investment initiative that will complement the growing number of development projects being constructed all over the UAE and the GCC.
Ras Al Khaimah is prepared to provide all the necessary support to help GGS capitalise on the excellent growth potential of the glass industry in the region.
Furthermore, this new project will help stimulate interest in Ras Al Khaimah's excellent business environment and highlight the strategic incentives being offered by the emirate's specialised investment zones."
Amer Al Aloul, Managing Director, GGS, commented: "The new facility has been built according to the highest level of European standards and practices, ensuring that we strictly follow the stringent environmental sustainability specifications of Ras Al Khaimah and that we cater to the quality demands of our customers.
We believe that Ras Al Khaimah is the perfect location for this ambitious project as the emirate offers the best value in terms of world-class infrastructure, cost-efficiency, government support and easy access to key transport facilities, giving us a convenient gateway to reach our target markets in the region and beyond."
GGS, which enjoys the full support of renowned and well-established shareholders including Dubai Projects, a world-class investment company based in the UAE, revealed that the new glass processing facility aims to increase its capacity from 360,000 sqm in the first year, to 1 million sqm within two years.
As such, the facility has been designed to accommodate two more factories and four to five times more machines. GGS also disclosed that it is using environmentally friendly equipment and processing techniques in line with its commitment to adhere to the green building regulations of the emirate.
The new GGS facility is located at the Industrial Park in Al Ghail, which is operated by Ras Al Khaimah Investment Authority (RAKIA), which also operates the Industrial Zone and the Free Zone in Al Hamra for foreign investors who wish to secure full ownership and enjoy the tax-free environment and duty exemptions being offered by the emirate.
The key benefits RAKIA offers to foreign investors include 100 per cent capital and profit repatriation, high availability of labour, easy licensing procedures, excellent port and transportation facilities, and the absence of foreign exchange controls, trade barriers and quotas.