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Mon 6 Jul 2009 12:02 AM

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Abu Dhabi mulls building fabrics plant

Plant, if feasible, would be built by Abu Dhabi Holding and partners in Abu Dhabi Polymers Park.

Abu Dhabi Holding (ADH) confirmed on Sunday it is studying the possibility of building a fabrics plant in the Abu Dhabi Polymers Park, in conjunction with Abu Dhabi Basic Industries (ADBIC) and an unnamed European technology partner.Commenting on the initiative, which came as it signed a MOU with the European partner, Otaiba Said Al Otaiba, chairman of Abu Dhabi Holding, said: ''This MoU is in line with ADH’s strategy to pursue industrial investments, with a focus on downstream petrochemical industries.

''Abu Dhabi Polymers Park is a unique concept for the emirate’s cluster-based industrial development and we hope to seize other similar opportunities in the future.''

Mohammed H Al Qamzi, senior vice president of Abu Dhabi Polymers Park at ADBIC, said: ''In line with Abu Dhabi Economic Vision 2030, Abu Dhabi Polymers Park is working very closely with the private sector to create ideal investment opportunities.

''Our aim is for the Emirate of Abu Dhabi to become a significant player and stakeholder, not only in the local, but also in the global plastics conversion industry. This joint study highlights our continued commitment to serve the global polymer conversion industry.''

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