Indian tobacco manufacturer Kaane American International Tobacco Company (Kaitco) expects to commence commercial operations in its Dubai tobacco processing plant by September 2003. The plant, situated at the Jebel Ali Free Zone, will manufacture cigarettes, cigars, filters and chewable tobacco.
The plant’s 1.5 million Emirati dirham ($410,000) construction contract was awarded to City Diamond company. The company plans to source raw tobacco from Zimbabwe, while the plant’s machinery will be imported from Holland, reported Gulf News.
The project is 90 percent financed by a consortium of local banks, including Emirates Bank International (EBI), MashreqBank and National Bank of Dubai (NBD). — (menareport.com)
© 2002 Mena Report (www.menareport.com)
