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UAE firm to set up factory in Andhra Pradesh
Friday, 09 January 2004, 00:00 Hrs
HYDERABAD: A ceramics firm of the United Arab Emirates (UAE) plans to set up a factory in Andhra Pradesh at a cost of 
1.15 billion.
Production is likely to start in March at the proposed factory of RAK Ceramics Limited in the industrial development area of Peddapuram, located in the coastal district of East Godavari. The factory is expected to employ around 400 people.
A memorandum of understanding to this effect was signed between RAK Ceramics Limited and the Andhra Pradesh government Wednesday on the sidelines of the 10th partnership summit of the Confederation of Indian Industry (CII).
The agreement was signed by Andhra Pradesh's Commissioner of Industries Sameer Sharma and RAK Ceramics' CEO Khater Massaad in the presence of Chief Minister N. Chandrababu Naidu and Crown Prince of Ras-Al-Khaimah, Said Bin Saqr Al-Qasimi.
The Andhra Pradesh Industrial Infrastructure Corporation has allotted 100 acres for the proposed state-of-the-art factory, expected to have a daily production capacity of 20,000 square feet of polished and unpolished porcelain tiles.
The products would mainly cater to the upper segment of the market.
Masaad told newsmen the firm would invest $30 million in the first phase and double it in the next two to three years. Production will start in March.
Source: IANS
1.15 billion.Production is likely to start in March at the proposed factory of RAK Ceramics Limited in the industrial development area of Peddapuram, located in the coastal district of East Godavari. The factory is expected to employ around 400 people.
A memorandum of understanding to this effect was signed between RAK Ceramics Limited and the Andhra Pradesh government Wednesday on the sidelines of the 10th partnership summit of the Confederation of Indian Industry (CII).
The agreement was signed by Andhra Pradesh's Commissioner of Industries Sameer Sharma and RAK Ceramics' CEO Khater Massaad in the presence of Chief Minister N. Chandrababu Naidu and Crown Prince of Ras-Al-Khaimah, Said Bin Saqr Al-Qasimi.
The Andhra Pradesh Industrial Infrastructure Corporation has allotted 100 acres for the proposed state-of-the-art factory, expected to have a daily production capacity of 20,000 square feet of polished and unpolished porcelain tiles.
The products would mainly cater to the upper segment of the market.
Masaad told newsmen the firm would invest $30 million in the first phase and double it in the next two to three years. Production will start in March.
Source: IANS
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