$10m steel, coil-coating unit planned in UAE

According to Shaji Ul Mulk, chairman, Mulk Group of Companies, the agreement for the joint venture was signed with Huang Shao Bo, president, Hong Kong Litong International Group Holdings.

The joint venture company will be called Mulk-Litong Color Coating and will have a production speed of 80 metres per minute.

The estimated annual turnover for this project would be over Dh400 million and plant will be located on an area of 250,000 square feet of land and built up area of 50,000 square feet.

“We are currently finalising the proposed site for the new plant which could be either in Sharjah or Dubai. We are also considering the proposed site at Dubai Investment Park,” he said. The coating capability will include PVDF, polyester and other texture coating systems as well as PET films and scratch resistant coating systems. Under the agreement Hong Kong Litong will be supplying the coating plant and technical know how and Mulk Group of companies will be using their International network for marketing of coated coils in Middle East, Asia and Europe.

Mulk, further said: “One of the prime reason we tied up with Litong is that they have been in this field for over two decades and our joint venture is result of our expansion plans which we are currently undertaking.

The company’s results for the financial year ending in June 2004, recorded an increase of 30 per cent in total turn over which touched Dh630 million, spread across the US, India and the UAE.

The company is also set to commence its operations in its aluminium composite plant which also happens to be the first plant in Middle East.

The group is overall diversified in real estate, medical, petrol stations and building materials."