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Mon 6 Jun 2005 04:00 AM

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Time clocks DSO potential

Dubai Silicon Oasis (DSO) has announced that UK-based PC assembler Time Group will invest more than US$40m during the next five years to construct a new assembly facility at DSO with a production capacity of more than one million units per annum.

Dubai Silicon Oasis (DSO) has announced that UK-based PC assembler Time Group will invest more than US$40m during the next five years to construct a new assembly facility at DSO with a production capacity of more than one million units per annum.

Construction of the 260,000 square foot facility, which will focus on the assembly of PCs, LCD monitors and plasma TVs, will start in January 2006 with the first phase of development completed by the year-end.

A contractual agreement has been signed by H. E. Sheikh Ahmed bin Saeed Al Maktoum, chairman of DSO and Tahir Mohsan, chief executive officer at Time Group Middle East.

Praising the bold initiative of establishing a manufacturing plant in Dubai, Sheikh Ahmed said: “Dubai has created DSO to attract the world’s most renowned firms in the hi-tech industry to enable the region’s transition into a thriving knowledge economy. This is the first time such a large scale manufacturing plant is being set up in the region…Our goal is to make Dubai a viable alternative for many multinational hi-tech firms from USA, Europe and Asia.”

Mohsan commented: “The primary reasons for selecting Dubai in general and DSO in particular lies in the proximity to growth markets, excellent infrastructure and logistics, the ability to meet increasing customer demands and access to readily available workforce in a very competitive tax free operating environment.”

The plant is expected to eventually employ more than 1,200 staff and will operate as Time’s third manufacturing facility alongside the UK and China, raising the assembler’s annual global unit capacity in excess of 3 million units. Time also plans to establish a customer care centre to support the local and regional market.

Dr. Zarouni, director general at DSO, concluded: “The Time Group’s decision to set up a manufacturing and assembly plant at DSO reaffirms the winning strategy that we have developed and implemented to attract and retain global electronics supply chain which includes IC design, IP development, and manufacturing and system assembly companies.”

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