By: Mahmoud Gamal
Abu Dhabi - Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) plans to build two new factories in India, to add it to its existing factory portfolio, CEO Abdullah Massaad told Mubasher in an interview.
RAK Ceramics’ new business in India will focus on manufacturing tiles, Massaad said in an interview with Mubasher, adding that the UAE company succeeded in raising its production capacity to 6 million metres from 3 million metres in 2018.
Massaad told Mubasher that RAK Ceramics intends to list subsidiaries on the National Stock Exchange of India (NSE).
The CEO noted that up to 70% of RAK Ceramics’ production capacity exists within the UAE.
The UAE company is constantly seeking to expand its business across the globe, as it has well-known distributors in Europe, Asia, and Saudi Arabia in which RAK Ceramics has been investing for about 27 years, the CEO added.
As for cash dividends, RAK Ceramics plans to distribute 60% of capital for fiscal year 2018.
