(MENAFN) JRD International's Managing Director, Anupam Lunavat, stated that the Dubai-based diversified conglomerate would spend USD400 million to expand manufacturing in 7 countries, reported Gulf News.
Lunavat added that the amount would be invested in 7 manufacturing factories of composite polypropylene boards involving 70 production lines during the coming 4 years.
The expansion plan is expected to boost the company's annual global production to half a million metric tons by 2016.
He said that the Jebel Ali-based firm launched a USD80 million RMD Board division manufacturing composite polypropylene boards that are changing, among other things, construction systems and the way people dress-up interiors, both office and residences.
JRD's existing production facility, which will service the GCC region, Africa and CIS, has created 700 job opportunities and is going to support thousands of indirect employment.
It is worth noting that JRD has already started getting patents for its products, most of which will have a 'Made in the UAE' label.