Mulk Holdings builds $9.99m Alubond plant in India
Job creating factory the first phase of $210m manufacturing expansion
UAE-based conglomerate Mulk Holdings has commissioned a $9.99m manufacturing plant for Alubond Composite Panels in Mumbai, India.
Spread over a 10-acre land, the manufacturing facility that will primarily serve the growing Indian construction market, and marks the first part of an $81.7m expansion plan in the country.
"We are investing in seven manufacturing plants in India, Serbia, the UAE and other parts of the world, with a total investment outlay of around $210m,” Chairman Nawab Shaji Ul Mulk said.
The new Indian plant, which has a production capacity of a million square meters of composite panels a year, has so far hired a total of 35 professionals more to follow.
Overall, Mulk’s expansion will create more than 2,000 more jobs and support a greater number of indirect employment opportunities for the local communities in the long run.
Shaji Ul Mulk continued: “We are pleased to commission Mulk Holdings’ latest venture in India, which will fulfill a major gap and meet growing demands for such products.”
The company has already set up marketing and distribution offices in all major Indian cities.