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Abu Dhabi: Hadeed Emirates, an Abu Dhabi-based holding company, on Monday announced that it plans to double its portfolio this year from Dh500 million to Dh1 billion.
The company specialises in the manufacture and supply of metallic building materials, as well as the construction of industrial facilities including the recently established Ducab factories in Abu Dhabi, as well as Hafilat, the UAE couch manufacturer.
"We are establishing a steel factory at the Mussafah industrial area which will start production in 2009, extending over 25,000 square metres," Sameer Dabbas, the company's chief executive officer (CEO) told Gulf News without revealing the investment cost.
"We have already received the land, carried out the necessary preparations and we are currently acquiring the necessary licences which will take a month to accomplish," he added.
Facilities
The company's activities spread throughout the UAE, with more than Dh500 million in investments. "We also have industrial facilities and ongoing projects in Abu Dhabi, Dubai, and Ras Al Khaimah, including the cargo terminal at Jebel Ali's Dubai World, and the largest press in the world at the Abu Dhabi Media City," he said.
The company is also the assigned contractor for Abu Dhabi Industrial Centre at Mussafah, according to Dabbas. "In future, we will be capitalising on the ambitious growth plans for the emirate, and we are already negotiating and seeking opportunities within the new developments, including the Polymer Park," he added.
The announcements came during a forum about investing in Jordan where the company signed a memorandum of understanding to establish a metal building material products in the Ma'an development region, South of Jordan.
"We have already allocated 50,000 square metres of land for Hadeed Emirates' plant, owned completely by the company, where they will establish their factory that will provide for at least 250 jobs," Mohammad S. Turk, CEO of the Jordanian South Company for Construction and Development told Gulf News.
"We have not launched the Ma'an region officially yet, but we have already approved $300 million worth of projects there, mostly from Arab countries, and we expect this figure to exceed $1 billion. Nevertheless, this is the first investment from the UAE in the region," he added.
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