VOL. XLI

No. 28

13-July-1998

UAE

Dubai To Set Up Basic Industries Company

The Dubai Government is to set up a new joint stock company, capitalized at Dh1bn($272mn), to invest in chemicals, petrochemicals and other basic industries such as steeland aluminium. A decree to this effect was issued last week by Shaikh Muhammad bin RashidAl Maktum, Crown Prince of Dubai, Minister of Defense and Chairman of the Dubai Departmentof Economic Development. The new venture - Emirates Basic Industries Company...