UAE Minister of Economy Inaugurates Upgraded Emirates Float Glass Factory in Abu Dhabi

WAM Abu Dhabi, 19th March 2012 (WAM) -- UAE Minister of Economy Sultan Bin Saeed Al Mansoori today officially inaugurated the upgraded Emirates Float Glass (EFG) factory, the UAE's largest state-of-the-art integrated float glass facility, subsidiary of Glass LLC, which is wholly-owned by Dubai Investments (DI) PJSC, at the Abu Dhabi Industrial City in Mussafah.

Built at a cost of over AED700 million and covering an area of 320,000 square meters, the factory has been partly operational since 2009. With the completion of phase-1 of the facility, it now has the capacity to produce 600 tons of clear molten glass per day and over 190,000 tons of glass products per annum. In addition to clear glass, EFG also produces a wide variety of tinted (bronze, grey and green) and reflective coated glass.

Khalid Bin Kalban, Managing Director and Chief Executive Officer, Dubai Investments, said: "As an integrated glass processing facility that serves markets around the world, Emirates Float Glass is central to Dubai Investments' vision for the future of the glass industry. The project is of strategic importance to the UAE's industrial development and is in line with the government's objective of focusing on the industrial sector, which has the potential to contribute up to 25 per cent to the country's GDP." Kalban added: "Emirates Float Glass aims to add a second phase to the Mussafah manufacturing unit. We are currently in negotiations with various regional investors including banks and institutions that have indicated interest in financing the project for a loan of nearly $200 million. We will also explore the option of issuing a sukuk or Islamic bonds to finance the expansion of the second production line in the EFG factory. The second phase of the facility, poised to be the largest in the UAE will add another 600 tons a day of capacity, including ultra-clear low iron glass, bringing the total to 1,200 tons per day." The factory is the only float glass manufacturing facility in the region with a fully automated production line - from receiving raw materials to packaging products. With most machines imported from Europe, US or Japan, the plant has achieved 100 per cent capacity utilization, which is the best benchmark for efficiency levels in the world. Furthermore, its strategic location at ICAD, close to the Mussafah sea port, offers state-of-the-art infrastructure along with an uninterrupted supply of natural gas and electricity.

Phase-II expansion of the EFG plant will enhance its capability to cater to a wide variety of interior and exterior commercial applications, especially in the solar and automotive sector, with premium quality glass products.

EFG supplies regional and international glass processors with premium quality float glass products that are used in the architectural and automotive industry segments. The products are exported to more than 53 countries spanning South America, Europe, Australia, Far East Asia and Africa, in addition to the GCC states. 85 percent of the company stakeholders are from the UAE while 15 percent are from GCC.