GCC investors will have a 30 per cent share in the equity of Dubai Investment Company’s Emirates Float Glass (EFG) LLC with UAE investors holding the remainder.

Khalid Kalban, managing director and CEO of Dubai Investments, said the strong interest shown by GCC investors had encouraged the company to opt for strategic long-term partners as stakeholders in the ambitious project. “We’ll now have an interesting representation of strategic investors for Emirates Float Glass from the GCC region, which is our primary target market,” he said.
“The fact that so many highly reputed investors from the region have shown their keen willingness to invest in this multi-million-dollar project is proof of the strategic importance of EFG in the Middle East, especially in the wake of the region’s ever-growing construction industry,” he added. The official did not identify key investors from the Gulf interested in the project.
EFG’s production plant envisaged at the Industrial City of Abu Dhabi will cost $193 million and have an annual capacity of about 160,000 tonnes of various glass products. The plant will have a daily production capacity of 600 tonnes of glass per day with the product mix matching the contemporary needs of different market segments.
Emirates Float Glass has entered into a complete technology supply arrangement, having signed an agreement with PPG Industries, a global supplier of glass, coatings, fibreglass and chemicals with about 50 production facilities in the US and about 108 worldwide. Recently EFG signed an agreement with Mott MacDonald, one of the UK’s top engineering and development consultancies, to provide project management services to the facility. 
The design and process engineering of the plant, incorporating contemporary technology adopted by PPG, has been completed by the turnkey contractor for the project – IANUA of Italy.  IANUA has been involved since 1975 in designing and building plant and machinery used in glass process transformation around the world.
“Emirates Float Glass is poised to play a crucial role in effectively catering to the growing demand for glass products, not only in the UAE but also across the GCC region,” said Kalban.