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| QFIB chairman Abdullah al-Marri; Mansour and dignitaries from Qatar as well as the UAE during the inauguration of Future Plast Industries in Abu Dhabi |
Future Plast Industries, which is ENPI Group’s first venture in the UAE capital, is located in the Abu Dhabi Industrial Area.
The FSSC-22000-2010-certified facility was inaugurated under the auspices of Mohamed Thani Murshed Ghannam al-Rumaithi, chairman of the Abu Dhabi Chamber of Commerce and Industry, in the presence of QFIB board members and high ranking officials from Qatar and UAE.
QFIB, Qatar’s first independent Shariah-compliant investment bank regulated by the Qatar Financial Centre Regulatory Authority, is a majority shareholder (71.3 %) of ENPI.
The facility covers an area of 17,622sq m and offers a range of integrated plastic solutions through its subsidiaries, Future PET and Future Flex.
ENPI chief executive officer Nizar Rajoub said, “We are happy to expand our reach to Abu Dhabi. This new facility will enable us to cement ENPI Group’s position as a global leader in providing plastic packaging solutions. We thank QFIB for their continuous support and great business insight. QFIB has assisted in streamlining our business and in securing the required funds to establish this facility. We look forward to work alongside QFIB management to further solidify the business, increase market share and broaden our product offerings and solutions.”
Commenting on QFIB’s role in supporting its portfolio companies CEO Emad Mansour said, “We congratulate ENPI Group on the inauguration of Future Plast Industries, their first venture into the Abu Dhabi Industrial Zones. This state-of-the-art facility will capitalise on the growing demand for plastic packaging solutions. At QFIB, we provide strategic support to our partners and ensure they benefit from our market insight and extensive network of connections. We will continue to support ENPI Group in its future expansion plans. Imminent steps would be to explore new markets together and enable the group to reinforce its status as a global leader in providing the most diverse range of plastic solutions.”
The facility is funded by a five-year syndicated 250mn UAE dirhams loan arranged by Abu Dhabi Islamic Bank.