Nukote to set up polymer plant
Posted: 25 June 2007
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Dubai-headquartered Nukote Coating Systems, a leading supplier to the oil and gas industry, is to build and run a $10 million polymer blending plant at Dubai Investment Park .
The investment is in collaboration with a consortium of investors from the United Arab Emirates and the facility will produce 90,000 tons per annum at full capacity.
“Nukote Coating Systems Middle East will be up and running by the end of this year and will supply polymer coatings and insulations for use in infrastructure projects such as bridges, roads, water distribution and treatment facilitates, and serve as insulation protection for major cooling projects in the UAE, Qatar and Oman,” said Michael Osborne, president and CEO of Nukote Coating Systems International.”
Nukote Coating Systems Middle East is a joint venture between Nukote Coating Systems International and a consortium of UAE based investors lead by Nadia Baradihi, managing director of Unicorn Business Development Consultants.
“The facility will produce high grade polyureas, polyurethanes, ceramic metal polymers and primers targeting the booming construction sector in the UAE as well as government infrastructure projects,” said Baradihi.
“Covering an area of 7,000 square metres, the facility will include research and development, sales and technical support personnel and is projected to generate $68 million per annum at full capacity which we expect to reach in five years.”
Nukote is privately held with annual turnover in 2005 of $65 million. The company develops and manufactures advanced polymer coating, liner and membrane systems. Nukote maintains its international headquarters in Jebel Ali Free Zone, Dubai . |
