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Abu Dhabi Polymers Park s construction on schedule

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Date Published:3/17/2009 11:03:33 AM

Abu Dhabi Polymers Park announced that the construction is on schedule for its industrial plot in Mussafah ICADIII.
Abu Dhabi Polymers Park announced that the construction is on schedule for its industrial plot in Mussafah ICADIII. The first factory will host Bonar Emirates Technical Yarns LLC, a joint venture between Abu Dhabi Basic Industries Corporation (ADBIC) and Low & Bonar PLC, the international performance materials manufacturer. As part of its first phase, the joint venture, signed in April 2008, will establish a manufacturing plant for the production of artificial grass yarn - a fast growing segment within Low & Bonar''s portfolio. Total initial investment in the joint venture to establish its business and production facilities is estimated at $25 million. According to Mohammed Hasan Al Qamzi, Senior Vice President of ADBIC''s Abu Dhabi Polymer''s Park, the project is a new concept for the plastic industry in the region focusing on providing value added services specifically for plastic converters. Since the official launch in June last year, the project has received very strong interest from both regional and international plastic converters. Construction of the factory began in September 2008. Abu Dhabi Polymers Park is planning to construct three more factory buildings this year to be leased out. These would require investments of more than $27 million. The Park is targeting segments such as OEM suppliers, consumer packaging, hygiene and medical, infrastructure and construction, compounds and master batches, and industrial packaging.

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