India's building solutions company enters UAE free zone

An India-based building solutions firm has joined one of the major business and industrial parks in the UAE to expand its business in the Middle East.
Everest Industries Limited, which exports building products and solutions to more than 30 countries, will occupy 750,000 square feet in Ras Al Khaimah Investment Authority (RAKIA)'s Ghail industrial park.
As the new deal reaffirms RAKIA's continued success in driving foreign direct investment to the emirate, Everest plans to initially produce 10 million square meters of fibre cement boards used in prefabricated housing, facades, flooring, wet area lining and ceilings within 15 months.
"On behalf of RAKIA, I am extremely pleased to welcome Everest Industries to our Al Ghail industrial park. Everest Industries has been at the forefront of technology in the building solutions space for eight decades, and its presence here is a testament to RAKIA's ability to offer unrivalled opportunities to foreign companies who recognise the value of setting up in a stable environment with low operating costs.

"Now more than ever, RAKIA is gaining recognition as the gateway for global industry in the Middle East and North Africa," RAKIA's COO Probir Chakraborty said yesterday.
The agreement marks the company's first international greenfield venture and adds to a manufacturing footprint that currently spans eight locations across India. Everest expects to source raw materials for its manufacturing process, such as cement and silica, locally.

Aditya V Somani, Chairman of Everest Industries said Everest is a very conservative and traditional organisation, hence considerable research and studies have gone into choosing a location for its first overseas venture.
"When we picked RAKIA as our choice, we considered the real strategic advantage of the location. RAKIA officials have also been very cooperative and ever-willing to extend all the help that we needed to set up the unit. We look forward to a fruitful association with RAKIA in the time to come," Somani said.

Everest Industries Ltd joins other global enterprises at RAKIA's Al Ghail industrial park, such as Ashok Leyland, one of the world's leading manufacturers of buses and trucks.