Ras Al Khaimah plans to invest AED2bn to expand its cement companies and ports to expand their capacity.
"These investments will be made available within the next three years," said Shaikh Saud Bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah.
"The capacity of the Ras Al Khaimah cement companies Gulf Cement Company [GCC], Ras Al Khaimah Cement, Union Cement Company [UCC] and Ras Al Khaimah White Cement and Construction Company will increase from 3Mt to around 9Mt once the expansion is completed," Shaikh Saud told Gulf News.
Around US$400m (AED1.5bn) will be invested in the four cement companies to triple the country’s cement capacity.
A further US$100m (AED367m) will also be pumped into the emirate’s ports to enhance their capacity, Shaikh Saud said.
As the construction boom continues to grip the country, cement companies have started looking closely at capacity expansion. The country’s 11 cement companies sold about 10.7Mt of cement in 2003 at an estimated value of AED1.75bn.
Ras Al Khaimah accounts for almost 90 per cent of the UAE’s cement exports.
Shaikh Saud said the government has appointed Rotterdam Engineering Company of Holland to conduct a feasibility study on the scope of increasing the handling capacity of Ras Al Khaimah’s ports.