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Danube to invest Dhs50m by 2009
- United Arab Emirates: Thursday, July 17 - 2008 at 11:30
UAE-based Danube Building Materials has announced its plans to invest Dhs50m ($13.6m) towards aluminium and glass manufacturing by 2009. The move is in line with the extensive growth witnessed in the aluminium market, with recent studies predicting that aluminium production in the UAE will cross 2.5 million metric tonnes by 2010. In addition, the investment aims to capitalise on the steadily rising price of aluminium, which rose by 23% in the first quarter of 2008 in Dubai compared to the same period last year, the company said in a statement.
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Jeff Florian, Senior ReporterThursday, July 17 - 2008 at 11:30 UAE local time (GMT+4)
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