Redx Industries sets up Addax Plastics factory in ICAD
- Bahrain: Sunday, September 09 - 2012 at 14:22
- PRESS RELEASE
Leading manufacturing Group in the GCC, Redx Industries announced its plan to build and operate a state- of- the- art, full-fledged plastic factory in ICAD 3, Zonescorp, Abu Dhabi. The new project, 'Addax Plastics' is a unique type of manufacturing plant to be established in the UAE in terms of sophistication and diversity of products.
Utilizing top of the line technology, the factory is set to produce 5000 tons of thermoplastic products targeting the Middle East, US, Europe and Asia.
Commenting on the opening, HE Mohamed Hasan Al Qamzi, CEO of The Higher Corporation for Specialized Economic Zones (ZonesCorp), said: "ZonesCorp aims to attract new establishments and investors to push forward Abu Dhabi's 2030 vision of economic development. Thus, opening another prominent factory reflects how we are viewed in the market, as the leading industrial sector partner that brings together investors from all over the world, working hand in hand towards achieving economic prosperity of Abu Dhabi."
HE Sheikh Ali Isa Ali Abdulla Al Khalifa, the founder and Managing Director of Addax Plastics, commented on the opening: "We are happy to announce to the GCC market in general and the UAE market in specific the launching of 'Addax Plastics' which will offer state-of-the art plastic products using cutting edge technology manufacturing tools."
His Excellency went on to say: "The choice to establish the factory in ICAD, Abu Dhabi, was made in view of the long- term attractive offers provided by ZonesCorp, the encouraging utility policy adopted by the Abu Dhabi Government and the integrated infrastructure offering, in addition to a direct access to Saudi Arabia by road and a direct access to the international markets due to ICAD's proximity to Abu Dhabi Airport and the new port at Taweelah."
ZonesCorp recently witnessed the opening of two major factories for Al Shoumoukh Group in ICAD 2. The two establishments, "Tuboscope" and "Big Red" were both targeted towards the oil industry.
ZonesCorp aims to attract investors from different industrial sectors to boost Abu Dhabi's economy, which emphasizes its continued investment in the manufacturing sector in order to maintain a developing economic sector in the UAE.
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