UAE-based RAK Ceramics announced its expansion plans for 2014
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RAK Ceramics has announced its expansion plans amounting up to $80 million in 2014.
Following a recovery in the UAE construction market, the UAE-based ceramics and sanitary ware company will expand its plants in India and Bangladesh, besides upgrading technologies at its other plants.
“This year we have an expansion coming,” Abdallah Massaad, chief executive of the company told Reuters. Massaad added the new Indian production would start coming onstream in June. To meet the increasing market demand, RAK Ceramics is expected to boost its annual production in India from 300,000 pieces to 800,000 pieces of sanitary ware.
Massaad said the company ‘plans to increase annual capacity by 3.5 million square metres of tiles from the current 7 million’ in Bangladesh. Almost 350,000 pieces of sanitary ware are expected to be added to the current 1 million produced in the country. “Within the next two months, we will have technologies to produce the largest slabs available worldwide,” he added.
RAK Ceramics had posted revenues of $952.8 million last year, said the Reuters report.