Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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Sharjah-based plastics converter Alliance Plastics FZE is scaling up to meet the region’s growing demand for industrial plastic packaging products. The manufacturer plans to invest AED 15-20 million (US$ 4-5.5m) in a new state of the art factory unit on a 62,840 square foot (5838 sq. meter) plot in Sharjah Airport International Free Zone (SAIF Zone) .
The Gulf Petrochemicals and Chemicals Association (GPCA) predicts that Gulf Cooperation Council states (GCC’s) plastics conversion industry will grow to 7.5 million tonne in capacity by the year 2020, approximately 40% more than its current production. The United Arab Emirates has the second largest plastic converter industry in the GCC, after Saudi Arabia and accounts for 19% of the region’s production. The Emirates also ranks second in overall plastics manufacturing capacity, representing 10.2% of the region’s polymer output.
Alliance Plastics opened its first facility in SAIF Zone in 2005, manufacturing plastic containers for products such as paint, food, lubricants and construction adhesives. Alliance Plastics currently exports to nine countries and according to director Aashish Vaghani, the manufacturer has global ambitions planning to expand exports, whilst remaining focused on its core production of plastic packaging and containers.
The free zone has been successful in attracting a wide variety of plastic manufacturers from Alpha Plastix Industry FZC, which produces polyethylene bags through to Giant Reinforced Plastic (GRP) Industries, a producer of glass reinforced polyester enclosures for the electrical industry.
Sharjah is also home to the PlastiVision Arabia exhibition and PlastiCon, the International Conference for Plastic Conversion, which take place at the Expo Centre Sharjah every two years. The GPCA held its Plastics Excellence Awards at this year’s PlastiVision in April 2014.
Source: SAIF Zone, Alliance Plastics FZE, GPCA
