A new $400m manufacturing complex being built in Dubai to serve the oil and gas and petrochemicals sectors will eventually create 500 new jobs, company chiefs have announced.
Proclad, a global precision engineering, manufacturing and service provider for the oil & gas and petrochemical industries, has sad that production is underway at its new manufacturing base in Dubai's Technopark.
Phase one of the facility - which is set to triple the company's annual capacity worldwide - has seen a $400 million investment in four manufacturing plants, a state-of-the-art research and development centre and a training academy.
Yaseen Jaffer, Proclad's chief executive said: "The first two factories of our Phase 1 expansion were completed in July and met all of the industries stringent pre-production quality and safety standards. As a result we have been able to begin manufacturing a range of mythically clad products for our clients ahead of schedule.
"Two additional manufacturing facilities are scheduled to begin production in the latter part of this year and we expect to see production levels increasing progressively until then," added Jaffer.
Proclad has earmarked a further $300 million for phase two expansion works which began construction earlier this year and are due for completion in 2011.
According to Jaffer, approximately 500 jobs are expected to be created when the facility is complete.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.