Abu Dhabi:M.A.H.Y. Khoory Group has announced its intention to invest over AED1 billion in the development of a new paper manufacturing project, PM4, at the Al Dhafra plant of Union Paper Mills in Abu Dhabi.
According to Wam, the project will integrate advanced technologies to enhance the Group's production capabilities. This development will enable Union Paper Mills to diversify its product range, including the production of high-value items such as premium containerboard grades and specialized paper for gypsum plasterboard applications, while also promoting sustainability and circular economy principles.
The initiative is in alignment with the UAE's Operation 300bn industrial strategy and the Make it in the Emirates initiative. Salahaldin Sharafi, Chairman of the Board of M.A.H.Y. Khoory and Co, stated that the project represents a significant milestone in the Group's industrial journey, aimed at strengthening its competitive position for the long term.
AbdelRhman Obaid, Group CEO of M.A.H.Y. Khoory and Co, highlighted that the investment is expected to create a smarter, more agile, and diversified industrial platform, which will open up new growth opportunities in both regional and international markets.
