The subsidiary company of S.D Polymer Pvt Ltd, S.D Polymer FZE, has signed an agreement with Dubai-based AI Composites Materials FZE- a company that specializes in expanding polymer compounding facilities in the Middle East. They're also being aided by the PADC (Product Application Development Center) on a Pan India basis.
According to the MoU, both the companies will invest proportionally in the Middle East to expand the polymer compounding facility for developing, manufacturing and distributing polymer composite materials and advanced polymer compounds, S D Polymer FZE said in a statement
As per sources, the company is in talks to invest approximately around $50 million in the Middle East region. The actual amount, however, remains undisclosed.
"We are very pleased to welcome AI Composite Material as an important strategic and long-term partner of S.D Polymer Pvt Ltd. Once materialized, the cooperation under this agreement will not only help our company expand global production footprint and improve its development structure but assist the company to solidify its long-term position in its industry," said Dhanish Goyal, spokesperson of SD Polymer Pvt Ltd.
