The first large scale high tech manufacturing plant in the region inaugurated in RAK

The state-of-the-art production facility, built to produce high quality digital data storage media, was inaugurated by H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, at a glittering function held at the factory premises yesterday evening.

Speaking at the function, Sheikh Saud said that the inauguration of the FTI hi-tech manufacturing plant heralded RAK's advancements in the high technology realm. "Investment in technology and innovation will be the prime movers in the Emirate's march towards the future", he stated.

He said that Ras Al Khaimah was witnessing a period of unprecedented growth and added that several new start-ups and technologically intensive firms have set up bases in the Emirate. Sheikh Saud said that the Government of RAK has put in place a dynamic and investor friendly environment to attract investors.

FTI is a joint investment between European (Swiss investment company) and leading UAE national entrepreneurs/ investors with headquarters and manufacturing plant in RAK.

FTI activities are focused on the development, manufacturing and marketing of Digital data storage media according to the DVD international standards and specifications. Actual and future planned products mix includes recordable DVD, HD-DVD, and BD formats for regional and international markets. FTI also offers a high quality manufacturing platform to global brand owners.

Adel Michael, CEO of FTI, thanked Sheikh Saud bin Saqr Al Qasimi for the continued and valuable support received for the setting up of the plant. He said that the FTI plant in RAK was the first large scale hi- tech industrial project in the UAE and the region. He said that the FTI plant is built on two levels each of 13,500 square metres and is equipped with the biggest and unique `clean room' in the Middle East covering 5000 square metres.

Apart from the mass production of high quality optical data storage media for entertainment and professional applications according to DVD
+/-R international standards, the company would also undertake manufacturing technologies development for actual formats and future third generation optical media formats such as the high density HD-DVD (15 GB capacity) as well as Blue Ray BD-R (23 GB capacity).

FTI would also engage in promotion and distribution of branded media worldwide for own brands and third parties licensed brands. The company is using exclusive proprietary manufacturing systems as well as Japanese process technologies.

FTI has a share capital of AED 100 million and the FTI plant is set up inside the 11.3 hectares `PrimusTech Industrial Park' which is designed to host up to six manufacturing plants and an accommodation compound with all services for up to 1500 engineers and employees, once completed.

The company will have an actual initial production capacity of around 160 million DVD discs per year and the capacity will be continuously and progressively increased to meet the growing demand world wide.

According to industry experts, the market of the optical digital data storage media (discs) only for the recordable DVD formats should reach 5.5 billion units in 2006 and is expected to double within the following three years.

The recent introduction of the double layer technology (DL) with almost double the disc storage capacity represents an additional segment with high growth potential. In addition, the new trend in the video camera market using DVD-R recordable discs of 8 cm instead of the standard digital tape (DV) and the developments in the third generation of optical media (HD-DVD-R and BD-R) are expected to provide tremendous growth opportunities for the company. "FTI intends to be positioned at the forefront in these segments", said Adel Michael.

Dr. Khater Massaad, CEO of RAK Investment Authority (RAKIA), said that the establishment of the FTI plant in RAK has proved that the Emirate is a fertile land for major industrial investments. He added that the RAKIA has received more than 50 applications from prospective investors for setting up new business and industrial ventures in the emirate.

Several international business and technical delegations from Europe and Japan and top dignitaries attended the inaugural event.