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Europe’s Optical Disc Group and Solar Technologies Group to invest over Dh5.8b in Dubai Silicon Oasis (DSO)

December 8th, 2006 by kalyan89 in PV-General, SC Company Reports

Report by Mohammad Ezz Al Deen, Staff Reporter
source: Gulf News
http://www.gulfnews.com/business/Technology/10087866.html

Dubai: Investments in Dubai Silicon Oasis (DSO) exceed Dh5.8 billion, a senior DSO official said yesterday. “The Dh5.8 billion investments include infrastructure, landscaping, villas, staff accommodation, sewage treatment plant as well as the DSO headquarters, besides the approved developers’ investment in tens of towers,” Shahla Ahmad Abdul Razak, DSO Deputy CEO, told Gulf News yesterday.

DSO, the emirate’s own version of Silicon Valley, may increase or even double its investment in a few years as it receives new applications to set up businesses in the DSO zone. DSO announced yesterday that Europe’s Optical Disc Group and Solar Technologies Group will invest Dh112 million in the technology free zone. The facility, expected to open late next year, will be the Middle East’s first facility of its kind, and will generate skilled jobs for over 200 people.

Optical Disc Group is a supplier of equipment and technology for the optical media industry like CDs, DVDs and glass mastering. “The optical media industry in the Middle East has grown at a rapid pace in the past five years, precipitating the need to develop research and development centres in the region that will design integrated optical disc solutions for the Middle East region and beyond,” added Shala. The agreement includes investment in the solar energy sector as well.

Solar Technologies Group will set up a processing centre for production of photovoltaic components, solar cells and panels. “Solar energy is the future of creating clean and environmentally-friendly energy, our agreement with Solar Technologies Group will oversee the development of this important industry in the Middle East,” added Shala. Reda Shaybani, Managing Director of Optical Disc Group and Director of Solar Technologies Group, said his company’s global turnover exceeded $800 million.

“After a long study of all technology parks and free zones in the UAE, we came to the conclusion that all our activities and specifically the photovoltaic technology is best suited to be in Dubai Silicon Oasis,” Shaybani said.

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