Al Rostamani Group, one of the largest and oldest business conglomerates in the UAE, has marked its 50th anniversary by announcing ambitious growth plans that will see it expanding geographically.

The company also plans to enter new business sectors and double its assets in five years.

One of only a handful of UAE companies to achieve the milestone of celebrating a half century of successful operations, the Al Rostamani Group's expansion plans will focus on high-growth sectors in emerging markets in the Middle East and North Africa (MENA) region and the Indian subcontinent, said a senior official.

Al Rostamani Group will also celebrate its anniversary by offering year-round promotions at its various companies. The group's flagship Central Trading Company (CTC), founded in 1957, will host festive events to mark the 50-year milestone.

CTC is a key player in the UAE's trading sector, and agent for Michelin, Castrol and Blue Star, among other industry giants.

Highlighting its core values of 'Commitment, Care and Vision' - a cornerstone of its operations since inception - the Group has further strengthened its corporate social responsibility programme by launching new programmes aimed at supporting the higher education of talented students, the Dubai Cares initiative and environmental sustainability strategies.

'Our growth approach, which is in tandem with the policies of the government, also echoes the vision of our founder and late chairman Abdulla Hassan Al Rostamani, who believed in doing business in a way that benefited the people and the country,' said chairman, Al Rostamani Group Marwan Abdulla Al Rostamani.

Al Rostamani Group has a diversified portfolio of businesses in such high-growth areas as automobile and heavy equipment sales, trading, finance, travel, communications, IT, property and real estate. Most recently, the group unveiled Emirates Recycling LLC, a company dedicated to recycling construction and demolition waste.

The Group also has partnerships with global leaders like Suzuki, Renault, Nissan Diesel, Tata, Michelin, Castrol and NEC. - TradeArabia News Service