Deficit is expected to reach 5.6% or more of national output this year
economy17 minutes ago
“The UAE is a big market in the region for the consumption of construction material, but we are also planning to target some other Gulf countries in the first quarter of 2009,” Sajan told the Khaleej Times in an exclusive interview.
He said there is crisis of confidence rather than liquidity and this is the time to focus on policies. Fundamentals of the UAE are strong and only thing is question of confidence, he added.
When asked about the secret of his business success he said, “We sell products on competitive rates and the secret behind our sale is we buy from the right people and market.”
The company recently announced its plan to invest Dh50 million towards aluminium and glass manufacturing by 2009. The move is in line with the extensive growth witnessed in the aluminium market, with recent studies predicting that aluminium production in the UAE will cross 2.5 million metric tonnes by 2010. In addition, the investment aims to capitalise on the steadily rising price of aluminium, which rose by 23 per cent in the first quarter of 2008 in
As a distributor of leading international brands for aluminium composite panels, aluminium profiles and aluminium sheets, Danube currently plays a vital role in the trading of these products, carrying world-renowned names such as Alubond, Balesco, Arabian Extrusions, Emirates Extrusions, Jindal and Al Jabbar Extrusions.
· abdulbasit@khaleejtimes.com
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