At the launch event, His Highness Shaikh Saud bin Saqr Al Qasimi (pictured), Supreme Council Member and Ruler of Ras Al Khaimah claimed that the UAE has the "geographical advantage of being a gateway to a market of more than two billion people, presenting an opportunity for companies basing their operations in the UAE." With annual capacity pegged at one million cells, Eternity Technologies says that, along with shipping cells to neighboring Gulf countries, it will export 85 percent of its output to markets including the U.S., Europe and Asia.
[Source: Eternity Technologies]
RAS AL KHAIMAH, U.A.E, April 25, 2011 /PRNewswire/ -- His Highness Shaikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, on Wednesday inaugurated the state-of-the-art industrial battery manufacturing plant of Eternity Technologies at the Industrial Park in Al Jazeera Al Hamra.
The Eternity Technologies FZ LLC plant, owned by the UAE-based Al Dobowi Group, has been set up with an investment of Dh200 million ($54.6million). It is the Gulf region's largest industrial battery plant, which will design and develop motive power batteries for use in electric fork lift trucks, industrial cleaning machines, access platforms and personnel transport.
With an annual capacity of producing one million 2-volt cells, the company plans to export 85 per cent of its output to global markets including US, Europe and Asia, apart from servicing the UAE and GCC countries.
Speaking at the function, Shaikh Saud said: "The opening of this advanced plant is a high point in the development of the industrial sector of Ras Al Khaimah and we are delighted to see that Eternity Technologies have brought in most modern R&D technologies to their plant."
He added that the UAE has the geographical advantage of being a gateway to a market of over two billion people, which presents a great opportunity for companies to base their operations here.
"We have created entities like Ras Al Khaimah Investment Authority (RAKIA) to provide optimum conditions for entrepreneurs to invest and succeed by adopting business-friendly laws and regulations, one-stop shop licensing procedures and excellent logistics infrastructure."
Shaikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, and MK Lokesh, Indian Ambassador to the UAE, were also present at the inauguration of the factory.
Surender Singh Kandhari, Chairman of Al Dobowi Group, said that the new plant features state-of-the-art product and manufacturing technologies and has a strong research focus.
The company has invested heavily in product development and design and has set up advanced chemical laboratories and electrical test laboratories. It incorporates latest manufacturing equipment from Germany, Austria, Italy, the US Ã¢â‚¬Â¨and the UK.
He added that the Al Dobowi Group, operating for 35 years in the UAE, has become a leading player in the motive industry ranging from tyres to automotive battery and industrial battery sectors.