Business | General
DI subsidiary set to launch $20m glass firm
Dubai Glass LLC, the glass arm of Dubai Investments PJSC (DI), has recently partnered with Abdullah Abdul Gani & Sons group of companies to launch a new $20 million (Dh73.46 million) Qatar-based glass company.
- Staff Report
- Published: 00:01 July 30, 2007
Dubai Glass LLC, the glass arm of Dubai Investments PJSC (DI), has recently partnered with Abdullah Abdul Gani & Sons group of companies to launch a new $20 million (Dh73.46 million) Qatar-based glass company.
The move is aimed at addressing the massive demand for glass and glass products in Qatar's flourishing construction industry. Under the terms of the agreement, Glass will secure the largest stake in the joint venture with a 49 per cent share, and in return will provide technical and management expertise, including transfer of know-how, technology, licence, management and personnel.
Abdullah Abdul Gani & Sons will secure the remaining share of the investment and will provide the venture with the local knowledge and support mainly through its subsidiary A&C Abdul Gani & Cardahi Construction and Installation, which has experience in establishing industrial projects in Qatar.
When operations begin in the near future, the new company will produce, cut, temper, laminate, assemble and supply high-performance glass for architectural and construction purposes in Qatar, and eventually expand its operations.
Abdullah Abdul Gani & Sons has been a leading name in the business environment of Qatar since 1958.
Dubai Investments is the largest company listed on the UAE stock exchange, and operates with a paid-up capital of Dh2.17 billion.
With more than 12 years of experience in establishing, acquiring and strategically participating in corporate ventures, DI has grown its portfolio to include 44 companies.
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