By Sam Bridge
Regal Global Trading announces plan to diversify its trading portfolio to include healthcare products amid coronavirus spread
A UAE-based company has announced plans to set up a factory in Dubai to manufacture affordable masks and medical kits, which will be shipped to coronavirus-affected countries around the world.
Khurram Shroff, chairman of the IBC Group, said that Regal Global Trading, a local company backed by the IBC Group, will diversify its trading portfolio to include healthcare products.
Shroff said: “One of the biggest challenges the outbreak presents is that people are contracting the disease at a rapid rate, overwhelming healthcare services. We need to contribute to help stem what could very well turn out to be a pandemic We are making an attempt to help manage the growing global shortage of medical supplies by supplying affordable masks and medical kits.
"In fact, even for the local market, we have kept our pricing very low, at AED30 for 50 masks, to ensure it is affordable and can genuinely support the requirements,” he added.
The new factory will ship hundreds of thousands of masks and protective gear on a daily basis.
“We are setting up a factory in Dubai and we plan to increase our capacity to 300,000 and double it every month moving forward, depending on the severity and spread of the epidemic. This daily production of 300,000 to 600,000 will be primarily supplied to China, where there is a demand of one billion masks, per day," said Shroff.
"There are also issues with availability of testing equipment, so we are sending medical testing kits and equipment to as many cities around the world as possible,” he added.
Regal Global Trading has operations in textiles, building materials, heavy equipment, machinery, FMCG, and beauty products in 78 countries.
Global coronavirus cases total more than 17,800 while the number of deaths exceeds 3,600.