Emirates Float Glass plant, with a design capacity of 600 tons per day for architectural and automotive glass, would convert sand and other basic raw materials into glass sheets.
The plant will be designed with the latest facilities, with the technical know-how provided by a leading supplier in the field, the product mix will include clear, tinted, and coated glass sheets of a broad thickness range. It will operate on a 24 X 7 basis throughout its campaign period of 15 years and will produce 160,000 tons of glass a year, which is equivalent to 12.5 million m2.
Dubai Investments has appointed Ernst & Young and KPMG to jointly function as business advisors for the float glass project. They will conduct comprehensive due diligence and advise Dubai Investments board on the project and its financial structuring.
Khalid Bin Kalban, managing director and chief executive officer of Dubai Investments, commented: "Setting up the float glass unit is a logical vertical integration strategy for us in the glass value chain. Easy availability of natural gas and electricity at competitive rates makes UAE one of the lowest cost producers of float glass in the world."
Weighing in the company's favour on the demand side is the fact that the UAE has one of the highest per capita consumption of float glass.
Booming construction industry in the region further ensures a strong demand growth rate for float glass.
Having tied in support from all major glass importers in UAE it is aiming to compete successfully in the global market. The company's other related ventures in UAE include Emirates Glass, a glass coating plant set up 9 years ago and Lumiglass, an automotive windshield manufacturing plant along with a glass sheet laminating line.