Abu Dhabi Polymers Park said construction is underway and on schedule for its first industrial plot in Mussafah ICADIII.

The first factory will host Bonar Emirates Technical Yarns LLC, a joint venture between Abu Dhabi Basic Industries Corporation (ADBIC) and Low & Bonar PLC, the international performance materials manufacturer.

As part of its first phase, the joint venture, signed in April 2008, will establish a manufacturing plant for the production of artificial grass yarn, a fast-growing product segment within Low & Bonar’s portfolio.

Total initial investment in the joint venture to establish its business and production facilities is estimated at $25 million.

“Abu Dhabi Polymers Park is a new concept for the plastics industry in the region focusing on providing value-added services specifically for plastics converters,” said Mohammed Hasan Al Qamzi, senior vice president of ADBIC’s Abu Dhabi Polymers Park.

Construction of the factory began in September 2008. Abu Dhabi Polymers Park is planning to construct three more factory buildings for leasing on the same industrial plot this year, for which total expected investment amounts to more than $27 million.

'This new venture will give us a strong position in one of the largest potential markets for artificial grass and allow us to satisfy the significant growth in global demand,' said Paul Forman, group chief executive of Low & Bonar.
 
'The Middle East is also one of the fastest growing areas for many of our other products such as specialist textiles used in civil engineering, where Low & Bonar already enjoys a world leading position,' he added.

Abu Dhabi Polymers Park is an industrial park spanning 4.5 km2 and is expected to generate up to $4 billion of investments in the plastics conversion industry.

With an expected total conversion of over 1 million metric tonnes of polymer per year, it will be the world’s largest plastics conversion cluster.

This will be another major step in the diversification of the UAE downstream petrochemicals industry, adding more value to oil and gas raw materials locally.-TradeArabia News Service