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S.Korean firm to build factory in RAK
RAS AL KHAIMAH - Ras Al Khaimah Investment Authority (RAKIA), a major provider of investment opportunities and one-stop solutions in its Free Zones, has announced that SeAH Steel Corp., a leading steel manufacturer from South Korea, has signed a lease contract for 250,000 square metres of land to build a manufacturing plant within RAKIA’s Industrial Park.
The successful manufacturer of steel pipes, tubes and fittings based in South Korea with overseas businesses in the United States, Japan, China and Vietnam and a global sales network, decided to expand into the Middle East and Africa market by operating a large production plant in the UAE with excellent infrastructure facilities and distribution channels to reach and export to the entire region.
Won-Ho Jang, Manager Strategic Planning Team, stated: “We looked into various options and found Ras Al Khaimah and RAKIA the perfect provider for our requirements — on one hand an ample area of land which not many Industrial Parks can provide — and on the other hand impeccable infrastructure facilities, easy leasing & licensing procedures and a reliable, experienced, supportive business partner. At RAKIA we were welcomed with open arms and have been treated with utmost professionalism and outstanding customer service. Within the coming 3 months we want to start construction on our production plant and are planning to be fully operational within a year from now. We are certain to have taken the right business decision and look forward to a very fruitful cooperation with RAKIA.”
Dr. Khater Massaad, Chief Executive Officer, RAKIA, added: “We are delighted to have SeAH Steel Corp. as investor in RAKIA’s themed cluster of Fabricated Metal-related companies. Industry leaders like SeAH with a reputable image in the market, high quality standards and vast expertise that can add value to our strategic mix of companies is what we are looking for, as they will enrich the business landscape and community of Ras Al Khaimah and its sustainability. We have high regards for Korean companies and established close ties with the country and its industries. Hoping that SeAH’s success story will inspire more peers of this calibre to join us in RAKIA, we will continue providing the best possible business environment to remain attractive for investors from all over the world.”
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