Proclad currently owns four factories in the same park that caters to a niche market for corrosion resistant alloy (CRA) products. It plans to make the National Industries Park a hub for its specialised products to serve the oil and gas market that covers the UAE, GCC, Mena, CIS countries, North and South America, West Africa and Southeast Asia.
Yaseen Jaffer, CEO of Proclad, said: "Proclad will invest up to Dh500 million in the new expansion and manufacturing facilities in addition to its existing investment that is close to Dh1 billion, bringing the total investment to Dh1.5 billion by the end of 2017."
The expansion of the new manufacturing facility will be done in two phases. The first phase will be fully operational by December 2016 and the second phase by December 2017. Phase 1 will produce 50k metric tonnes per annum while phase 2 will produce 150k metric tonnes per annum, bringing the new production capacity to 200k metric tonnes per annum.
Proclad plans further investment in National Industries Park once the two phases are fully operational. Proclad currently has manufacturing factories in Scotland, England, Germany, Spain, Italy, Singapore and Abu Dhabi.
Proclad is a leading company in CRA products, solutions and services. It has 3,500 employees worldwide. The new expansion is expected to create 450 new jobs by 2017 (300 in phase 1 and 150 in phase 2).
Ibrahim Mohammed Al Janahi, deputy CEO and chief commercial officer of Economic Zones World, said: "Despite a slowdown in the global market and the challenges faced by the oil and gas industry, Proclad has grown over the years, with major expansions year after year. Proclad is one the leading players in the oil and gas industry and has been providing innovative products manufactured locally as per international standards."
Al Janahi promised to support Proclad in the smooth operations of their business. He added: "National Industries Park is currently working on a long-term investment policy aimed at attracting various industrial sectors from all over the world by offering world-class services to meet the needs of companies."