Business | General
Danube invests Dh55m to set up manufacturing units in China
Dubai-based Danube Building Materials, a leader in the construction, building materials and shop fitting industry, has invested Dh55 million ($15 million) towards the formation of the Lianyungang Donghai Danube Wood Products Company in China.
- Staff Report
- Published: 00:21 February 4, 2008
Dubai: Dubai-based Danube Building Materials, a leader in the construction, building materials and shop fitting industry, has invested Dh55 million ($15 million) towards the formation of the Lianyungang Donghai Danube Wood Products Company in China, a statement said.
The investment involved the construction of three new manufacturing facilities in the Punan Industrial Economic Development Zone in Lianyungang Port, which the company expects to generate Dh183 million ($50 million) in additional revenues.
The Danube International Trading Company will serve as the local hub for its operations, with the first batch of China-made products expected to arrive to the Middle East by early 2008.
The rapid growth of Danube's operations has earned the Dubai-based manufacturer an export lic-ence from the customs department of China, which has paved the way for the formation of the Lianyungang Donghai Danube Wood Products, spanning 50,000 square feet.
"China supplies close to one-third of the materials in the booming construction industry of the UAE," said Rizwan Sajan, chairman, Danube.
The company has employed a 100-strong workforce including a mix of well-trained Chinese and expatriate workers.
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