The Qemtex Powder Coatings plant will take shape in the UAQ FTZ, United Arab Emirates, over the next eight months. By its targeted launch in June 2024, the plant’s capacity will reach 4,000 tons of finished products per year, with a subsequent three-year plan to increase production to 10,000 tons annually. The facility will manufacture a diverse range of powder coatings. All countries within the MENA and EU regions will be able to buy powder coatings from Qemtex, and there are plans for market entry into the US.
Over the next three years, the total investment in construction and development will exceed 60 million dirhams (approximately $16 million). The project will draw upon European technologies and innovations by Kazakhstan-based AsiaColor Powder Coatings.
At the groundbreaking ceremony, the Co-founder of Qemtex Powder Coatings, Alexandr Glukhov, stated, “We are grateful to Umm Al Quwain and the Free Trade Zone for creating favorable conditions for companies to enter the international market. This is an excellent location for manufacturing with robust physical and legislative infrastructure. For us, entrepreneurs from Kazakhstan, this is a significant milestone as we are already expanding globally.”
Source : Street Insider
