The UAE’s first automobile assembly plant, which marked a defining moment the country’s industrialisation drive, was inaugurated on Thursday by His Highness Shaikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.
The state-of-the-art plant set up at the Al Ghail Industrial Park in Ras Al Khaimah, is a joint venture between the Ashok Leyland, the flagship company of Hinduja Group of India, and the Ras Al Khaimah Investment Authority, or Rakia.
The joint venture, inked in 2006 with a phased investment outlay of $50 million, has implemented the initial phase at an investment of $20 million.
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