On April 28, solar glass provider Almaden announced in a public statement that it intends to establish a wholly – owned subsidiary, Almaden Glass Industries Co., Ltd. (the name has been approved by local authorities), in the United Arab Emirates (UAE) through its existing wholly – owned subsidiary Almaden (MENA) Co., Ltd. The move is part of the company’s strategic initiative to enhance its overseas presence, foster greater international exchanges and collaborations, expand its overseas business scope, and ultimately boost its overall competitiveness.
The company plans to invest in a solar glass production line project with an annual output capacity of 500,000 tons, encompassing both a glass furnace and supporting deep – processing production lines. The total planned investment for this project amounts to $240.23 million.
The construction site for the 500,000 – ton – per – year solar glass production line project is located within the Khalifa Industrial Zone Abu Dhabi Free Zone (KIZAD) in Abu Dhabi, UAE. The project involves the construction of a 1,600 – ton – per – day (t/d) glass melting furnace along with accompanying deep – processing production lines.
According to the announcement, this overseas capacity investment project aligns with Almaden’s global development strategy. By leveraging the local geographical and resource advantages in the UAE and capitalizing on the company’s core technological strengths in solar glass, Almaden aims to effectively deploy its overseas solar glass production capacity. This strategic move will enable the company to better navigate the ever – changing international trade landscape, cater to the markets in the Middle East, Europe, the Americas, and South Asia, and drive its business growth in the global market. Ultimately, it is expected to enhance the company’s international competitiveness, achieve its long – term development goals, and maximize the interests of all shareholders.
