UAE firm launches world’s 1st offsite manufacturing park in TN

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The world’s largest and first fully integrated industrial park has been opened in Tamil Nadu by a NRI-owned multinational group based in the UAE that specialises in innovative offsite manufacturing technology.

KEF Infra, the infrastructure subsidiary of KEF Holdings yesterday launched the KEF Infra One Industrial Park, the fully integrated offsite manufacturing park in Krishnagiri, Tamil Nadu.

The park is built on an area of one million square feet and developed at an investment of Rs 650 crore, the company said in a release.

The chief guest for the occasion was Narayana Murthy, Founder of Infosys and Faizal E Kottikollon, Founder and Chairman, KEF Holdings, Shabana Faizal, Vice Chairperson, KEF Holdings, Sumesh Sachar, CEO, KEF Infra among others were also present.

The park features a diverse range of cutting-edge technology that can revolutionise manufacturing and delivery processes in the construction industry.

“Today, India is at the cusp of growth led by innovation and we are pioneering an age where technology is being effectively integrated into infrastructure, thus heralding industrial revolution 4.0. Our aim is to fast forward this progress by radically changing the landscape of infrastructure in India.

“Offsite manufacturing of infrastructure reduces delivery time by up to two-thirds, thereby speeding up the construction process. The launch of KEF Infra One is a step towards our vision of pushing forth the next phase of India’s growth through world class infrastructure and we are proud to present this to the world,” Kottikollon said who was born into an industrialist family in Kerala.

Narayana Murthy said India has always been on the path of development, and with the arrival of technology, has witnessed exponential growth.

“However, every sector that contributes to India’s progress is supported by infrastructure that is future-ready. This is where KEF Infra is a true pioneer and is helping shape the future of the infrastructure industry as well as that of the country as a whole,” he said.

Source: http://www.business-standard.com/article/pti-stories/uae-firm-launches-world-s-1st-offsite-manufacturing-park-in-tn-116122000574_1.html

Kaya acquires “beneficial interest” in 2 UAE skincare firms

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Skincare firm Kaya Ltd today said it has acquired majority “beneficial interest” in UAE’s Minal Medical Centre and Minal Specialized Clinic Dermatology for an undisclosed sum.

“Kaya Middle East, DMCC, a foreign subsidiary of Kaya Ltd has entered into an agreement dated September 8, 2016 for acquiring 75 per cent beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah.

“However, the agreement will become effective on fulfilling of certain conditions precedent and obtaining the requisite statutory approval/s, which will take approximately 4 months,” the company said in a BSE filing.

It further said: “The above said entities carry out business of skincare, body and hair services and reported revenue of Arab Emirate Dirham (AED) 11.17 million (around Rs 20.26 crore), as per the audited financial statements for the year ended December 31, 2015.”

Kaya Ltd said: “This acquisition will further strengthen company’s network of clinics in the UAE region and add new set of customers to our existing base in the region. With its special expertise in body contouring, it would help Kaya in leveraging across the region.”

With this acquisition, the total network of Kaya’s clinics in the Middle East region would increase to 23.

Source: http://www.financialexpress.com/companies/kaya-acquires-beneficial-interest-in-2-uae-skincare-firms/372083/

UAE earmarks key sectors like railways, housing, ports, roads for investments in India

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It is part of the $ 75 bn announced during Prime Minister’s August trip to the Gulf nation that marked a paradigm shift in bilateral strategic and economic partnership.

Oil-rich United Arab Emirates (UAE) has identified key sectors including railways, housing, ports, roads and renewable energy (mainly solar) for investments in India as part of the $75 billion announced during Prime Minister’s August trip to the Gulf nation that marked a paradigm shift in bilateral strategic and economic partnership.

UAE had announced to investment $75 billion for various sectors in India when Narendra Modi made a two-day trip to Abu Dhabi and Dubai last August — first by an Indian PM to the Gulf nation in three decades. Earlier this month, Finance Minister Arun Jaitley was in UAE to discuss this investment proposal among other issues and met senior officials of the Abu Dhabi Investment Authority (ADIA), one of the largest sovereign funds in the Gulf nation, officials from Abu Dhabi said.

ADIA would contribute to the $75-billion fund allotted for investments in India in sectors including railways, roads, housing, ports and renewable energy (solar initiatives) where the Modi government is seeking foreign direct investment to boost economy, officials from the Gulf state indicated. The Indian PM is likely to announce a solar mission at the Paris climate change summit.


However, UAE is pushing to begin the process of investments in near future by various ministries in keeping with Modi’s promise. “India is now a strategic partner for UAE and Abu Dhabi wants to invest in India’s growth and seeking expedition of the process on the ground,” a person familiar with the developments told ET.
With this goal in mind Jaitley met Sheikh Hamdan Bin Rashid Al Makhtoum, Minister of Finance, UAE, to discuss issues of mutual cooperation in the field of economic and trade development during his trip there. His visit follows that of UAE’s Foreign Minister to India within weeks of Modi’s trip to Abu Dhabi and this shows the seriousness of both nations which have now expanded their counter terror cooperation amid growing threat from IS and other terror groups in South Asia. Strengthening counter-terror cooperation also figured during Jaitley’s deliberations with UAE leadership.

The finance minister also invited large participation and investment in recently constituted National Investment and Infrastructure Fund (NIIF) by the Sovereign Wealth Funds and Pensions Funds of the UAE. He said the investment in NIIF will ensure good returns on investment as the government will invest these funds in infrastructure projects.

Source: http://economictimes.indiatimes.com/articleshow/49976782.cms