Mulk Holdings reveals expansion plans
Company investing in new sites in India, Serbia and the UAE
Manufacturing and distribution of Alubond – a product from Mulk Holdings – is forging ahead across the world as demand grows.
The UAE, India, Europe, Saudi Arabia, Africa and Turkey have all seen recent developments for its manufacture and distribution and new markets are constantly being explored.
This year the company commissioned a $9.99m manufacturing plant for Alubond Composite Panels in Mumbai, India.
Spread over a 10-acre site, the manufacturing facility 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 has a production capacity of a million square meters of composite panels a year.
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 and has announced expansion plans in other areas of the world.
In the UAE the Eurocon Building is Alubond’s global headquarters and the largest production base operated by Mulk. It has three production lines with an annual capacity of more than seven million individual sheets, catering to customers across 24 countries in the Arab world.
Alubond is also an important part of the company’s operations in Saudi Arabia where it is working alongside the Al Olayan business on the distribution of the product.
In Turkey, Mulk is in a joint venture with the Aldom Group and when completed later this year it will be the largest single Alubond production plant in the world after a $50m investment.
Shaji Ul Mulk signed the agreement with Aldom’s Muzaffer Boynudelik at the Burj al Arab.