Danube to invest Dh50m by 2009

DUBAI - Danube Building Materials, a leader in the construction, building materials and shop fitting industry, has announced its plans to invest Dh50 million towards aluminium and glass manufacturing by 2009.

By (By a staff reporter)

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Published: Thu 17 Jul 2008, 11:40 PM

Last updated: Sun 5 Apr 2015, 12:50 PM

The move is in line with the extensive growth witnessed in the aluminium market, with recent studies predicting that aluminium production in the UAE will cross 2.5 million metric tonnes by 2010. In addition, the investment aims to capitalise on the steadily rising price of aluminium, which rose by 23 per cent in the first quarter of 2008 in Dubai compared to the same period last year.

"Since we started our aluminium and glass division in April 2007, we have supplied high quality building materials to large and premium projects in the UAE, Oman, Bahrain and Qatar," said Rizwan Sajan, Chairman, Danube Building Materials. "In our analysis of the present situation, we are confident that our investment in this market will result in more business prospects for us, which will further strengthen our position in the regional market."

Recent studies have shown that the Middle East contributes five per cent to the global volume of aluminium production; however this figure is expected to increase based on the 42 per cent growth in regional aluminium production between 2002 and 2007. Danube's aim is to focus on supplying the best products in response to the high demand created by the construction industry, whilst also offering customers real value for money.

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