Saudi Arabia's Zamil Industries will set up an industrial venture in the United Arab Emirates (UAE) to produce glass, air-conditioners and steel, said a company chief. Abdullah Al Zamil, CEO of Zamil Industrial Investment Co, said the company is seeking a suitable location in the UAE for the venture. The size of the investment remains undecided. "We are looking at about 100,000 square metres of land for the project which will have the facility to manufacture steel, glass products and airconditioners," he said. The UAE is the company's second largest market after Saudi Arabia. "The UAE market represents about AED 200 million in annual sales for us. We sell about AED 500 million worth of products in the Kingdom. Our total annual sales are around AED 1.8 billion," he said. While acknowledging that Dubai offers "wonderful infrastructure", Al Zamil said land prices in Dubai are higher than in other emirates. "Dubai does not offer the most competitive rates for land, utilities and other services." Al Zamil was speaking on the fringe of the Leaders in Dubai conference, which ended 30 November 2004. He emphasised greater economic activity in the intra-Arab region.
