Dubai Ports, Customs and Free Zone (PCFC) and International Finance Corporation (IFC) executives were present during the recent inauguration of Usha Martin's new wire rope plant - Brunton Shaw Middle East, located at the Jebel Ali Free Zone (JAFZ).
The wire rope manufacturing facility in Dubai will have a capacity of 6,000 tons per annum and it will cater to Middle East, Europe and Africa markets. The Usha Martin Group is India's largest and the world's third largest wire rope manufacturer.
The group has manufacturing facilities in India, UK, and Thailand and now in Dubai. The group has created a worldwide distribution, services and marketing network spread across USA, UK, Europe, Africa, Middle East, Far East and South East Asia.
IFC holds more than 14 percent equity in Usha Martin, India, the parent company, and is providing funding of $21 millionn to the company's backward integration and value enhancement initiative, which are progressing as per schedule. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
