UAE-based Alliance Plastics will be investing around $4-5.4m (Dh15-20m) in the first phase of facility expansion to meet the growing demand for industrial plastic packaging products from the local and GCC markets.
The company has invested in a plot of land measuring 62,840 ft2 to construct a new plant at Sharjah Airport International Free Zone (Saif Zone).
Speaking about the investment, Alliance Plastics director Aashish Vaghani said: "We are going to invest Dh15-20 million ($4-5.4 million) in phase one of this expansion and have further investment plans within Saif Zone for different phases."
"We are involved in manufacturing of plastic pails / buckets for paint, food, lubricants, construction adhesives, etc. We currently have a strong established foothold in UAE market and export to over nine countries."
The deal was signed between Alliance Plastics and Saif Zone director Saud Al Mazrouei who said: "Our reputed clientele includes major players from various industries in the UAE and GCC. Keeping in mind our growth strategy and our urge to constantly excel to support are clientele with their packaging requirements, we have further decided to increase our production capacities.
"We intend to be a global player in the field of plastic packaging, majorly staying focused on manufacturing of plastic pails /plastic buckets and related plastic packaging products. We are grateful to SAIF ZONE authority for their quick assistance on understanding the requirements needed to our expansion. We have been operating out SAIF ZONE since mid 2005."
