RAS AL KHAIMAH, United Arab Emirates, Sept. 5, 2019 /PRNewswire/ --
- RAKEZ welcomes Motherson Sumi Systems Ltd, one of the global leaders in the field of automotive wiring harnesses.
- Motherson Sumi Systems Ltd acquired over 21,000 m2 of land at RAKEZ Al Hamra Industrial Zone for its factory.
Ras Al Khaimah Economic Zone (RAKEZ) has recently added another giant Indian conglomerate to its client portfolio – Motherson Sumi Systems Ltd (MSSL), one of the global leaders in the field of automotive wiring harnesses. MSSL is set to produce a broad portfolio of products including wiring harnesses, rear view mirrors for passenger cars, injection moulded products and many more from its RAKEZ manufacturing unit.
MSSL has recently held a ground breaking ceremony at RAKEZ Al Hamra Industrial Zone to mark the beginning of the construction of its factory which is presently being built on a land that stretches to over 21,000 m2. The company's operations are expected to officially commence on the 2nd quarter of 2020.
Vivek Chaand Sehgal, Chairman of MSSL, said: "We are very glad to have taken this important step of setting up our manufacturing facility in the fast-growing emirate of Ras Al Khaimah. This provides us great opportunities for larger exposure to the global markets. We are truly proud to be working in conjunction with RAKEZ, which is among the leading economic zones in the region."
Welcoming MSSL to the RAKEZ family, Ramy Jallad, Group CEO of RAKEZ, said: "We consider the coming of Motherson to our thriving industrial ecosystem as another significant milestone in our commitment to underpinning the industrial growth in the emirate. This very industry is among the leading contributors to the emirate's stability and strength in tackling economic headwinds. I'm sure that Motherson is one of the great additions we are going to have this year."
About Ras Al Khaimah Economic Zone (RAKEZ):
RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 14,500 companies coming from over 100+ countries and operating in more than 50 industries.
RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has six specialised zones that are tailored to specific needs of investors: a Business Zone for commercial and service companies; Al Ghail, Al Hamra and Al Hulailah Industrial Zones for manufacturers and industrialists; a Media Zone for the creative firms; and an Academic Zone for educational providers.
A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.
About Motherson Sumi Systems Limited (MSSL):
Motherson Sumi Systems Limited (MSSL) is one of the world's leading specialised automotive component manufacturing companies for OEMs. MSSL was established in 1986 as a joint venture with Sumitomo Wiring Systems and was listed in 1993 on BSE and NSE in India. MSSL is a focused, dynamic and progressive company providing customers with innovative and value-added products, services and solutions.
With a diverse global customer base of nearly all leading automobile manufacturers globally, the company has a presence in 41 countries across six continents. MSSL is currently the largest auto ancillary in India and among the Fab 50 companies of India by Forbes magazine. MSSL is the flagship company of the Samvardhana Motherson Group (SMG) which is ranked 21st among global automotive suppliers by Automotive News.
For more information, please contact:
Cleo Eleazar, Public Relations & Events Manager, RAKEZ
Phone: +971 7 2077173; Email: email@example.com
SOURCE Ras Al Khaimah Economic Zone (RAKEZ)