Gulf Metal Craft (GMC), a manufacturer of sheet metal products used in construction, is investing Dh12 million to set up an extension to its existing plant, according to a senior executive.
"We are making an extension to our existing factory and investing about Dh5m initially to set up a manufacturing facility for powder coated products. We expect investments to go up to Dh12m in the venture, which consists of three phases. It will be fully operational by July 2011," said Basim Abu Shamleh, General Manager of GMC.
"We are also in the final stages of signing a joint venture with a European company for the powder coating facility," he added.
The company is a subsidiary of M'Sharie from 2003 and is primarily engaged in manufacturing standard range and custom design cabinets in electro galvanized steel, aluminium and stainless steel.
It has provided electrical enclosures for Dewa sub-stations, Al Raha Beach Resorts, Dubai Internet and Media City and well head panels for Saudi Aramco as well as architectural stainless steel for projects such as Dubai International Airport, Burj Al Arab and others.
"We expect a turnover of Dh35m in 2010 against the Dh25m turnover in 2009," he said. "We are heavily involved in the construction sector but have been diversifying last year. Despite the crisis, it was a good year for us since we have started business in new markets such as Iraq and Sudan. These markets today account for 35 per cent of our turnover. Last year, we created a cash reserve, which has helped us to go ahead without any external financing issues."
GMC is currently tendering on projects in Dubai and Abu Dhabi such as Meydan, Ritaaj 2 as well as supplying for projects such as the 11 Etihad Towers in Abu Dhabi.
"In Sudan, we are partnering with a company from Ras Al Khaimah on a petroleum project. In the UAE, we partner with Gulf Dynamic Switchgear and are specified together with them by consultants on projects. Our other clients include Danway Dubai, Juma Al Majid and Bin Ghalib in Dubai, Voltamp Energy Saog in Oman, Danway Qatar and Bin Ghalib Qatar and Estikraa in Iraq."