Dubai Investments Park (DIP), a wholly-owned subsidiary of Dubai Investments, conceptualized as a major industrial, business, residential and recreational development in Dubai has entered into an agreement with the Oman Construction Material and Trading (OCM) group to support construction of a new steel processing factory under the Seven Seas Industries LLC label.
Khalid Bin Kalban, Managing Director and Chief Executive Officer, Dubai Investments, said: "DIP aims to bring varied property developments, from manufacturing industries to residential complexes, under a single umbrella. We encourage a diversity of investments, and are pleased to announce that the OCM will be setting up a world-class steel processing facility here.”
“High quality is the touchstone that distinguishes all of the companies and factories operating in DIP. Seven Seas products, which are known worldwide for their premium quality, are adding further vigor to DIP’s diversified set”, added Bin Kalban.
The Seven Seas label, currently the largest in the world for Automated Pre-Fabricated Cages, is wholly owned by the Oman Construction Material and Trading Group (OCM), and launched its first presence in Dubai in 1996 as the main trading arm for the group. OCM diversified into specialized steel processing in 2001 by acquiring Corporate Technology FZCO, which is one of the largest units in the UAE for the cutting and bending of steel reinforcement bars.
Rohit Valrani, the Group Executive Director, said of the forthcoming expansion, "We are committed to expanding and diversifying our product portfolio. DIP offers excellent facilities and is an ideal location for our new venture. DIP houses many industrial complexes which will let us take advantage of the infrastructure and ancillary services to generate competitive edge”.
The 61,000 sq meter factory, set to commence operations in 2007, is expected to hire a minimum of 300 workers to produce in excess of 15 thousand tons of steel a month.
The multi-phased 3,200 hectares Dubai Investments Park, with an expected outlay of AED 1.5 billion, offers investors pre-serviced sites boasting world-class infrastructure, state-of-the-art facilities and quality services for manufacturing, research and development, housing, logistical and academic purposes.
The Dubai Investments Park is being developed, managed and operated by Dubai Investments Park Development Company LLC (DIPDC), a wholly-owned subsidiary of Dubai Investments. Besides educational institutions and residential complexes that come equipped with well developed infrastructure facilities, the Park’s tenants include industries representing a broad scope of economic activity.
