H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, said that the UAE’s attractive investment climate and flexible legislative procedure, as well as its advanced infrastructure, have contributed to the launch of many investment projects in Fujairah.
FUJAIRAH, (Pakistan Point News - 19th Jul, 2018) H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, said that the UAE’s attractive investment climate and flexible legislative procedure, as well as its advanced infrastructure, have contributed to the launch of many investment projects in Fujairah.
Fujairah's CP made his remarks today during the launch of the JSW factory for clinker production in Habhab, which is owned by the JSW Cement Group, the leading producer of green cement in India. The factory will have a production capacity of 6 million tonnes of limestone per year, with 1.4 million tonnes being used for clinker production.
He added in line with the directives of H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, the emirate has focused on investing in strategic projects that will help the country achieve the UAE Vision 2021, which aims to create a diverse and sustainable economy.
Sheikh Mohammed bin Hamad also unveiled a memorial plaque at the project's site, which will see the construction of a unit to grind clinker in Fujairah, as well as a power plant to provide the unit’s needs, through an investment of around US$150 million.
He was then briefed on the details of the project, which is expected to create around 400 to 500 jobs. He also expressed his pleasure that the Indian group will be part of the Fujairah plan to adopt strategies that will preserve the environment.
In turn, Parth Jindal, Managing Director of JSW Cement, thanked Sheikh Hamad's support in launching the project. "Our plan to establish this clinker unit confirms the group’s commitment to enlarging its scope of investments in Fujairah," Jindal said while adding that the unit is expected to start its operations in December 2019.
The clinker module is expected to be operated by December 2019.
The launching ceremony was attended by many senior officials.
The factory will operate over three phases. The first phase aims to produce 6 million tonnes of limestone, of which 1.4 million tonnes will be used to produce clinker, while the second phase will see production rise to 12 million tonnes per year, and the third phase to 20 million tonnes per year.
