Arab Today, arab today dubai investments targets 40 surge in glass demand in 2014
Last Updated : GMT 11:12:15
Arab Today, arab today
Arab Today, arab today

Dubai investments targets 40% surge in glass demand in 2014

Arab Today, arab today

Arab Today, arab today Dubai investments targets 40% surge in glass demand in 2014

Dubai - WAM

Dubai Investments PJSC, DI, an investment company listed on Dubai Financial Market, has announced that it is targeting 40 percent growth in the demand for glass during 2014, driven by the acceleration of construction and infrastructure projects in the U.A.E. and across the region. DI will be catering to this demand through its subsidiary Glass LLC, which comprises five companies; Emirates Float Glass, Emirates Glass, Lumiglass Industries, Saudi American Glass and Emirates Insolaire, and is augmenting its production facilities in anticipation of this demand. Within the scope of this, Saudi American Glass - the leading processor of architectural flat glass in the Middle East, has announced a major upgrade in its facility in Riyadh with new machinery and equipment set to increase its glass production capacity by over 50 percent to 1.4 million square metres of high-performance coated glass per annum. Similarly, Lumiglass Industries is in the process of expanding its production capacity of bullet resistant glass by 50 percent from 130 units to 260 units per month. Abdulaziz bin Yagub Al Serkal, General Manager of Dubai Investments PJSC, commented, "Glass LLC has achieved consistent growth in 2012 and 2013 in spite of recessionary trends across the globe. But we expect a major uptrend in 2014, amidst the flurry of construction activity in the U.A.E. and the region. We have some of the best glass products in the market, and we expect the demand to rise by over 40% in 2014 - more so as the pace has picked up since November after Dubai's successful bid for Expo 2020." According to estimates, more than 1,300 construction projects are expected in the U.A.E. alone, valued at approximately $418 billion, while Qatar has seen an exponential rise in infrastructure and construction projects in preparation for FIFA 2022. Across the GCC, another 300 projects worth $143 billion are in the design, planning or bidding states. "Glass LLC has world-class capabilities to meet the stringent technical specifications required for projects in the region. Over the years, Glass LLC has won an excellent portfolio of projects. We are planning an upgrade in the machinery and equipment at our facilities at SAG and Lumiglass to manage the expected volumes," added Serkal. Glass LLC is also expected to aggressively tap into the export markets in the coming months, to complement its existing presence across GCC, MENA, Eastern Europe, India and part of South Africa. "We have a strong presence across the globe, and in 2014, we are eyeing the South American market," he said and added that automotive bullet resistant glass has also seen increased demand from Canada, Pakistan, Iraq, Afghanistan, Jordan and Lebanon. Mr. Serkal also anticipated an increase in the cost of glass in the midst of escalating demand. "Over the past few years, the increase in prices was quite unhealthy due to various factors. However, we expect the prices to go up by 7% to 10% this year due to increases in the cost of raw materials and surging demand across GCC and the international markets," he added.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai investments targets 40 surge in glass demand in 2014 Arab Today, arab today dubai investments targets 40 surge in glass demand in 2014

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Former head of Egypt’s syndicate submits appeal

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 15:06 2017 Saturday ,25 March

Dialysis Supplies Dwindle for Syrians

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday