Auto Bus Laser LLC invests AED 40 million at RAKEZ
Auto Bus Laser LLC, a newly established commercial vehicle parts manufacturer, has joined Ras Al Khaimah Economic Zone’s (RAKEZ) in its Al Ghail Industrial Zone.
The company has been set up to exclusively support Ashok Leyland’s operations by supplying bus bodies, engines, exhausts, clutches, breaks, radiators, and other vehicle parts.
“We are very happy to embark on this new venture with Ashok Leyland as together, we will be producing commercial buses that are truly robust and reliable. We want to thank RAKEZ for providing us with a seamless business set-up experience. It’s no wonder Ashok Leyland has been here for over a decade,” said Auto Bus Laser’s Chief Executive Officer Raman Macker.
With around AED 40 million worth of investment, Auto Bus Laser has acquired a massive 20,100 square metre of land at RAKEZ’s Al Ghail Industrial Zone where the company will construct a state-of-the-art facility that will house the next generation of laser machines.
“At RAKEZ, we encourage synergies between the companies operating in our specialised zones. Hence, we are excited that Ashok Leyland has introduced RAKEZ to Auto Bus Laser as an ideal manufacturing hub. Having these two commercial buses and parts manufacturers in our Al Ghail Industrial Zone can further attract other related businesses, forming a mini cluster of collaborating vehicle makers,” said Ramy Jallad, Group CEO of RAKEZ, RAK Free Trade Zone and RAK Investment Authority.
Jallad added that the joining of Auto Bus Laser to the over 600 industrialists operating at RAKEZ only proves that the economic zone is trusted by large enterprises from around the globe. “We are committed to provide fit-for-purpose solutions to companies that chose to base their operations with us. It doesn’t matter whether they are entrepreneurs, small businesses or manufacturers. Our commitment is to facilitate their growth in a cost-effective environment and help them easily access the vast opportunities that the Middle East region has to offer,” he said.
Auto Bus Laser’s production plant will be developed in three phases and is expected to commence operations in January 2018.