ZonesCorp inks AED 367M contract with Jindal Saw Gulf

ZonesCorp has signed another agreement with the Jindal SAW Gulf for the expansion of its current facilities. The agreement was signed at the Hannover Messe Industrial Fair.

Jindal SAW Gulf is planning a AED367 million (US$100 million) expansion of its ductile iron pipe facility in ZonesCorp’s Industrial City, which will boost production capacity by an additional 200,000 tons per year bringing the total production capacity to 500,000 tons per year. This expansion will attract two sizeable downstream investments to the ZonesCorp’s metal cluster from Jindal SAW Gulf’s partner - Super Cement Manufacturing.

Super Cement Manufacturing is owned by Sanjay Aggarwal - one of the partners of Jindal SAW Gulf, and currently manufactures cement in ZonesCorp’s Industrial City. It is investing an additional AED367m (US$100 million) through its subsidiary Super Ferro Alloys, in a 75,000 tons ferro alloys complex located on 100,000 sq. metres greenfield site in close proximity to their existing plant.

In addition, Super Cement Manufacturing is investing in AED 110 million (US$30 million) lime calcination plant with a production capacity of 450,000 tons per year. This new facility will be fully operational before end of 2014.

Collectively, the three new investments will attract a total of AED845 million (US$230 million) in new investment to ZonesCorp’s Industrial City and generate employment for an additional 500 people.