UA: DI's Corporate Arm To Develop Three More Glass Making Units

Dubai Investments', or DI's corporate arm, Glass LLC, will be developing three more glass producing facilities in the UAE, Saudi Arabia and Jordan over the next three to six months as part of its ongoing expansion to address the region's construction boom.

This will bring to four Glass LLC's new regional subsidiaries with a combined investment of over Dh300 million, according to Khalid Kalban, managing director and CEO of DI, the largest investment company listed on the UAE stock exchange.

He added yesterday that this would bring to Dh1.5 billion from Dh1.2 billion the total regional investments of Glass LLC that include the glass company launched in Qatar last week and the four operating subsidiaries in the UAE and Saudi Arabia.

Also yesterday, Kalban said Emirates Building Systems (EBS), which manufactures steel structures and is a subsidiary of Dubai Investments Industries (DII), would have a turnover of Dh1 billion in three years' time due to its ongoing expansion projects. DII is DI's investor arm that targets both new and established industries in the local and regional markets.

Read the entire story on the source link below.

600450 UA: DI's Corporate Arm To Develop Three More Glass Making Units
Date: 7 August 2007

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