Proclad to invest Dhs 500M in National Industries Park

Tuesday 31 May 2016

Dubai - MENA Herald: National Industries Park (NIP) and Proclad have signed an agreement to invest and develop plots in the National Industries Park to a tune of approximately AED. 500 Million and develop 1.5 Million sq. ft. of industrial area specializing in Products and services related to the Oil and Gas Industry.
Proclad currently owns four factories in the same Park that caters to a niche market for Corrosion Resistant Alloy (CRA) products, solutions and services. It plans to make the National Industries Park as its world-wide hub for its specialized manufactured products to serve the entire World Oil and Gas market that covers the UAE, GCC, MENA Region, CIS Countries, North and South America, West Africa and Southeast Asia.
Yaseen Jaffer, CEO of Proclad says:
“Proclad will invest up to AED. 500M in the new expansion and manufacturing facilities in addition to its existing investment that is close to Dhs 1 Billion, bringing the total investment to AED. 1.5 Billion by end of 2017.”
The new manufacturing facility expansion will be in 2 Phases. The first phase will be fully operational by December 2016 and second phase by December 2017. Phase 1 will produce 50k metric tons/annum whilst Phase 2 will produce 150k metric tons/annum bringing the new expansion’s production capacity to 200k metric tons per annum.
Proclad is planning further investment in National Industries Park by establishing new factories once the two Phases are fully operational. Proclad currently has manufacturing factories in Scotland, UK; England, UK; Germany, Spain, Italy, Singapore and Abu Dhabi, UAE. These are in addition to the 4 existing factories in Dubai, UAE located at the National Industries Park.
Proclad is a leading company in CRA products, solutions and services and its weld overlay cladding for pipes and equipment is the only one of its kind and the market leader in the industry.
Currently, it has 3,500 employees worldwide. The new expansion is expected to create a total of 450 new job opportunities by 2017 (300 in Phase 1 and 150 in Phase 2).
Ibrahim Mohammed Aljanahi, Deputy CEO and Chief Commercial Officer of Economic Zones World said: “Despite a slowdown in global market and the challenges faced by the oil and gas industry, the Proclad has grown over the years, with major expansions year after year. Proclad is one the leading players in the Oil & Gas industry sector and has been providing innovative products manufactured locally as per to international standards.”
Aljanahi congratulated Proclad on their new venture and thanked them for choosing National Industries Park for their business needs. He promised to support Proclad in the smooth operations of their business.
Aljanahi added: “National Industries Park is currently working on a long-term investment policy aimed at attracting various industrial sectors from all over the world by offering world-class and services to meet the needs of companies to achieve their goals and aspirations in the region.”

Search form