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FINANCIAL NEWS
Dubai’s JRD to go international with its USD408m RMD investment
21 Oct 2012
(MENAFN) Dubai-based conglomerate JRD International has unveiled plans to spend up to USD408 million in overseas expansion for its RMD Board product, Arabian Business.
The plan includes building 80 lines for RMD Board, a composite polypropylene board manufacturing plant that will change construction systems and the way people dress-up interiors, in seven countries within the next four years, according to the company.
The company has already set up a USD80 million manufacturing plant in Dubai to produce the material, creating 700 jobs, said the company.
Anupam Lunavat, managing director of JRD International, said that by next year, this plant will reach 110,000 metric tonnes per annum processing capacity of polypropylene.
Lunavat added that the project would become the largest single-site manufacturing plant of rigid extrusion of polypropylene in the world.
RMD Board’s wall panels and false ceilings, which currently come in 300 different designs and textures, will soon be available in over a thousand designs, the statement said.
The company also said that RMD wall panels will have the capacity to eliminate the entire range of foreign imported goods in the next few years.
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