ZonesCorp signs Dh367m contract with Jindal Saw Gulf at Hannover Messe

ZonesCorp is delighted to announce that it signed another agreement with the Jindal SAW Gulf for the expansion of its current facilities. The Agreement was signed at the Hannover Messe Industrial Fair last week. Jindal SAW Gulf is planning a Dh367m (US$100m) expansion of its ductile iron pipe facility in ZonesCorp's Industrial City, which will boost production capacity by an additional 200,000 tons per year bringing the total production capacity to 500,000 tons per year. This expansion will attract two sizeable downstream investments to the ZonesCorp's metal cluster from Jindal SAW Gulf's partner - Super Cement Manufacturing. Super Cement Manufacturing is owned by Sanjay Aggarwal - one of the partners of Jindal SAW Gulf, and currently manufactures cement in ZonesCorp's Industrial City. It is investing an additional Dh367m (US$100m) through its subsidiary Super Ferro Alloys, in a 75,000 tons ferro alloys complex located on 100,000 sq. metres greenfield site in close proximity to their existing plant. In addition, Super Cement Manufacturing is investing in a Dh 110m (US$ 30m) lime calcinations plant with a production capacity of 450,000 tons per year. This new facility will be fully operational before end of 2014. Collectively, the three new investments will attract a total of Dh845m (US$230m) in new investment to ZonesCorp's Industrial City and generate employment for an additional 500 people. The agreement was signed last week at a signing ceremony at the Hannover Messe. As part of its commitment to showcase its partner companies and share its expertise and knowledge, ZonesCorp is leading a high level delegation of 19 important industrial manufacturing companies to the prestigious ‘Hannover Messe', the world's biggest industrial trade fair in Hannover, Germany, Over the last 2 years ZonesCorp has gone from strength to strength attracting a steady stream of high quality local and international manufacturing companies to its acreage. In the last 2 years alone ZonesCorp attracted Dh 11.3billion of new investment, 152 new projects creating well over 12,000 new jobs. ZonesCorp's success can be attributed to, among other things, excellent global connectivity, low cost of operations, high quality investor support, world class infrastructure and providing marketing support. Mohamed Hasan Al Qemzi, Chief Executive Officer at ZonesCorp commented:"We have enjoyed an extremely rewarding and longstanding partnership with Jindal Saw Gulf LLC and Aggarwal and we are delighted to see that they are continuing to expand with us." Sanjay Aggarwal Managing director of Jindal Saw Gulf said: "We are very pleased to be setting up these new ventures in Abu Dhabi under ZonesCorp. Our partnership with ZonesCorp has gone from strength to strength and we look forward to further expansions in the future. We have seen rapid uptake of our products in the GCC since we started our new operations here two years ago, and we continue to see a growth in demand. Our new investment is in response to this growth and we look forward to bridging the demand-supply gap. – Emirates News Agency, WAM