Arab Today, arab today dh225 mln textilejoint venture textile in fujairah
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Dh225 mln textile joint venture textile in Fujairah

Arab Today, arab today

Arab Today, arab today Dh225 mln textile  joint venture textile in Fujairah

Fujairah - Arabstoday

His Highness Shaikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, on Monday opened a Dh225 million textile factory in Fujairah. The United Textiles Factory, a joint venture between an Azerbaijani investor and the Government of Fujairah, represented by Fujairah Investment Company, is the biggest and first of its kind in the region. The factory is dedicated to produce high-quality textiles and will cater to the needs of Arab Gulf Cooperation Council, Middle East, Europe and the United States. The opening ceremony was also attended by Shaikh Mohammed bin Hamed Al Sharqi, Crown Prince of Fujairah, and senior officials. “The mammoth project keeps pace with the federal national approach, which is based on transparency under the leadership of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan,” said Sharif Al Awadhi, director-general of Fujairah Free Zone. He said the UAE is moving steadily and rapidly towards achieving sustainable development and setting up qualitative industrial projects, which depend on technology, knowledge and use of latest hi-tech methods. “Fujairah enlightened from this national approach in keeping abreast of progress, use the suitable legislations and the advanced infrastructure of the emirate as well as the incentives and facilities the zone provides such as free hold property, tax exemption and free movement of capitals, which are directed and well-looked after by the Ruler of Fujairah, the Crown Prince and followed up by Shaikh Saleh bin Mohammed Al Sharqi, chairman of the Department of Industry and Economy, in attracting real sustainable projects,” he said. The projects, according to him, are qualitative in addition to other schemes, such as the vital project of manufacturing of solar energy cells, iron pipes insulation, production of copper conics and pre-fabricated houses, and volumes of their annual operations exceed Dh5.5 billion. The joint venture textile factory is an Azerbaijani investment with strategic partnership with Fujairah Government represented by Fujairah Investment Company with 225 workers, and functions with an annual productive capacity of 10,000 metric tonnes of high-quality textiles. The facility is a distinctive addition to the projects and factories in Fujairah Free Zone is evidence to its strategic location and offering incentives and tax exemption in an economic environment and encouraging laws the UAE enjoys.  Shaikh  Hamad toured the factory and its different sections. The opening ceremony was attended by Shaikh Saleh bin Mohammed Al Sharqi, chairman of the Department of Industry and Economy; Shaikh Rashid bin Hamad Al Sharqi, chairman of Fujairah Culture and Information, and Shaikh Saif bin Hamad Al Sharqi, chairman of Fujairah Free Zone, among others. From khaleejtimes

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