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29 March 2024

ZonesCorp signs Dh367m contract with Jindal Saw Gulf

Published
By Staff

ZonesCorp has announced that it signed another agreement with the Jindal SAW Gulf for the expansion of its current facilities.

The agreement was signed at the Hannover Messe Industrial Fair last week.

Jindal SAW Gulf is planning a Dh367m (US$100m) expansion of its ductile iron pipe facility in ZonesCorp’s Industrial City, which will boost production capacity by an additional 200,000 tons per year bringing the total production capacity to 500,000 tonnes per year.

This expansion will attract two sizeable downstream investments to the ZonesCorp’s metal cluster from Jindal SAW Gulf’s partner - Super Cement Manufacturing.

Super Cement Manufacturing is owned by Sanjay Aggarwal - one of the partners of Jindal SAW Gulf, and currently manufactures cement in ZonesCorp’s Industrial City.

It is investing an additional Dh367m (US$100m) through its subsidiary Super Ferro Alloys, in a 75,000- tonne ferro alloys complex located on 100,000 sqmts greenfield site in close proximity to their existing plant.

In addition, Super Cement Manufacturing is investing in a Dh110m (US$ 30m) lime calcination plant with a production capacity of 450,000 tons per year. This new facility will be fully operational before end of 2014.

Collectively, the three new investments will attract a total of Dh845m (US$230m) in new investment to ZonesCorp’s Industrial City and generate employment for an additional 500 people.

The agreement was signed last week at a signing ceremony at the Hannover Messe.

Over the last two years ZonesCorp has gone from strength to strength attracting a steady stream of high quality local and international manufacturing companies to its acreage.

ZonesCorp attracted Dh11.3billion of new investment, 152 new projects creating well over 12,000 new jobs.