DI launches $20mn Qatari glass firm

by Dylan Bowman Sunday, 29 July 2007

The glass business arm of Dubai Investments on Sunday launched a $20 million glass company based in Qatar.

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Glass LLC said the move aims to address what it described as massive demand for glass and associated products in Qatar's construction industry.  
The new company is a joint venture between Glass LLC and local company Abdullah Abdul Ghani & Sons, with Ghani & Sons owning 51% and Glass LLC the remaining 49%.

Glass LLC did not say what the company is to be called.

Under the terms of the agreement, Glass LLC will provide technical and management expertise, while Ghani & Sons will provide the local support through its subsidiary A&C Abdul Ghani & Cardahi Construction and Installation Company.

The company will produce, cut, temper, laminate, assemble and supply high-performance glass for architectural and construction purposes in Qatar, with the goal of expanding its operations region-wide.  

"Dubai Investments has been very keen on expanding its presence in the region, and the massive construction and real estate boom in Qatar has provided us with the perfect opportunity to proceed with our expansion program," Khalid Kalban, managing director and CEO of Dubai Investments, said in a statement.

Glass LLC is the holding company for four Dubai Investments subsidiaries, including Emirates Glass LLC, Emirates Float Glass, Lumiglass Industries, and the Saudi American Glass Company.



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