ADX-listed RAK Ceramics RAK Properties released an update on its brownfield and green field projects as part of its third quarter 2023 financial results.

Expansion projects in Bangladesh, the UAE and India

  • The capacity expansion of tableware manufacturing by 10 million pieces in the UAE has been finalised, and the trial phase for commercial production has begun. The subsequent production increases will be implemented gradually, in accordance with market demand.
  • The company is evaluating upgrading the UAE and India production facilities, with the goal of bringing in production efficiencies and improve production capacity.
  • In Bangladesh, the existing tiles line is being upgraded. Commercial production is set to commence in the first quarter of 2024.

Greenfield projects in Bangladesh and Saudi Arabia

  • RAK Ceramics has obtained all the required approvals and permissions for its faucets plant in Bangladesh, including the land mutation certificate. Next steps include completing the design of the factory layout and commencing construction in the fourth quarter of 2023.
  • The company is working on establishing a production facility in Saudi Arabia.

(Writing by Senthil Palanisamy; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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