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FINANCIAL NEWS
Mars to invest USD60m in expanding Dubai factory
08 Dec 2014
(MENAFN) Mars Incorporated, the American chocolate manufacturer, announced it is planning to invest USD60 million to expand its facility in Jebel Ali Free Zone in Dubai as part of a wider GCC expansion program, Gulf Business reported.
Mars said that the investment will be focused on providing the facility with a new production line for Snickers, thus increasing its total production capacity from 60.000 to 100.000 tons per year, which will also result in creating new 50 jobs to work on the line as well as increase the factory’s net asset from USD100 million to USD160 million.
“Mars’ expansion reflects Jafza’s success in enabling major international businesses to grow in the UAE and the region. Mars GCC’s expansion is an important step by the company to meet the growing demand of its clients in the Middle East, Africa and Turkey region. The increased production capacity strengthens the company’s presence in the regional emerging markets,” CEO of Economic Zones World and Jafza said.
This new investment in Dubai follows the inauguration of Mars’ new USD80 million manufacturing factory at the King Abdullah City in Saudi Arabia earlier this month, with both factories helping the company meet the demand of the local UAE and Saudi Arabia markets, as well as 30 additional markets across the Middle East, North Africa and the Sub-continent to which these facilities will export.
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