DUBAI: Proclad, a world leader in specialist engineering services, has signed an agreement with the National Industries Park in Dubai, UAE, to invest Dh500 million ($136.1 million) in an expansion programme.
Proclad plans to develop 1.5 million sq ft of industrial area specialising in products and services related to the oil and gas industry, said a statement from the company. It is a leading company in corrosion resistant alloy (CRA) products, solutions and services and its weld overlay cladding for pipes and equipment is the only one of its kind and the market leader in the industry.
Proclad currently owns four factories in the same park that caters to a niche market for CRA products, solutions and services, said the statement. The company plans to make the National Industries Park as its world-wide hub for its specialised manufactured products to serve the global oil and gas market that covers the UAE, GCC, Middle East and North Africa (Mena) region, CIS Countries, North and South America, West Africa and Southeast Asia, it added.
The new manufacturing facility expansion will be in 2 Phases. The first phase will be fully operational by December 2016 and second phase by December 2017. Phase 1 will produce 50,000 metric tonnes per annum (mtpa) whilst Phase 2 will produce 150,000 mtpa bringing the new expansion’s production capacity to 200,000 mtpa, it said.
Proclad is planning further investment in National Industries Park by establishing new factories once the two phases are fully operational. It currently has manufacturing factories in Scotland, England, Germany, Spain, Italy, Singapore and Abu Dhabi, UAE. These are in addition to the four existing factories in Dubai, UAE located at the National Industries Park, said the statement.
Currently, it has 3,500 employees worldwide. The new expansion is expected to create a total of 450 new job opportunities by 2017 (300 in Phase 1 and 150 in Phase 2), it added. Yaseen Jaffer, CEO of Proclad, said: “Our company will invest in the new expansion and manufacturing facilities in addition to its existing investment that is close to Dh1 billion ($272.2 million), bringing the total investment to Dh1.5 billion ($408.3 million) by end of 2017.”
Ibrahim Mohammed Aljanahi, deputy CEO and chief commercial officer of Economic Zones World, said: “Despite a slowdown in global market and the challenges faced by the oil and gas industry, Proclad has grown over the years, with major expansions year after year.”
“The company is one of the leading players in the oil and gas industry sector and has been providing innovative products manufactured locally as per to international standards,” he said. Aljanahi congratulated Proclad on their new venture and thanked them for choosing National Industries Park for their business needs. He promised to support the company in the smooth operations of their business, it added.
