European technology group invests AED 112 million in Dubai Silicon Oasis during GITEX 2006

The activities include Research & Development, Optical Media Training and Support Centre as well as manufacturing the next generation optical media products, solar cells, solar panels and tempered glass used in photovoltaic and the building industry.

This will be the first facility of its kind in the Middle East and will generate skilled jobs for over 200 people. The facility is expected to open end-2007.

Optical Disc Group is a leading supplier of equipment and technology for the optical media industry. The company offers turn-key solutions for the manufacturing of all formats of optical media such as CDs, DVDs (including HD DVDs) and glass mastering. The company already has been operating from Dubai Airport Free Zone offering spare parts and technical service for the entire region.

Shahla Ahmed Abdul Razak, Deputy CEO, Dubai Silicon Oasis Authority said:

"The optical media industry in the Middle East has grown at a rapid pace in the past five years, precipitating the need to develop research and development centres in the region that will design integrated optical disc solutions for the Middle East region and beyond."

The agreement between the companies also includes investment in the solar energy sector. Solar Technologies Group will set up a processing centre for production of photovoltaic components, solar cells and panels. Solar energy can be converted directly or indirectly into other forms of energy, such as heat and electricity through the photovoltaic process.

"Solar energy is the future of creating clean and environmentally-friendly energy. Many countries around the world have adopted this technology for numerous commercial, industrial, government, and domestic applications. Our agreement with Solar Technologies Group will oversee the development of this important industry in the Middle East," added Abdul Razak.

A complimentary activity to the photovoltaic products will be to temper glass for the building industry. The factory will be equipped with sophisticated CNC equipment supplied by the world's leading manufacturer Lisec from Austria and Tamglass from Finland. The products manufactured will be insulated glass units, tempered and heat-strengthened glass as well as laminated glass to meet with European standards to be supplied to local market as well as to meet demand in neighbouring countries. The facilities will also develop new products which meet the demand in hot climate countries like the Middle East.

Reza Shaybani, Managing Director of Optical Disc Group and Director of Solar Technologies Group said: "After a long study of all technology parks and free zones in the UAE, we came to the conclusion that all our activities and specifically the photovoltaic technology is best suited to be in Dubai Silicon Oasis.

Our past experience with Dubai Airport Free zone management where our current activities are located gives us confidence that DSO will be as well managed and successful. In addition DSO has the infrastructure which is required for such high-tech activities."

DSO is the region's number one integrated innovations hub for high-tech industries. It is a wholly-owned entity of the government of Dubai, operating as a free zone technology park for semiconductors, microelectronics and other electronic-based companies looking to set up their regional headquarters and R&D divisions.