Inkas Vehicles – a manufacturer of armoured transport and special purpose vehicles based in Dubai Investments Park (DIP), will set up another manufacturing facility in the business park at an investment of Dh55 million, said a press statement.
The new facility will be the biggest-of-its-kind in the region, spreading across 159,700 square feet within DIP 2.
The business park already hosts four armoured vehicles manufacturers from across the world, which includes Inkas Vehicles, Mezcal Security Vehicles, Shell Armored Vehicles and Saxon Armor – producing a total of 1,600 armoured vehicles every year.
Some of these companies are fast expanding their presence with additional manufacturing units within DIP, as the Middle East and North Africa is registering a sharp growth in armoured vehicles sector. This growth and expansion comes amidst a surge in global armoured vehicles market, which is projected to reach $28.62 billion by 2019 with primary drivers being the Middle East, North Africa and Asian markets.
Inkas currently operates a 110,000 square feet manufacturing factory, producing over 1,000 quality armoured transport, executive SUVs, armoured cars, luxury sedans and special purpose military vehicles every year, and catering to the UAE and exported to Middle East, North America, North Africa & Asian markets.
Omar Al Mesmar, General Manager of DIP, said: “Over the last 17 years, our endeavour at Dubai Investments Park is centered on supporting UAE’s GDP by attracting big businesses to our industrial park. These include some of the leading names across a wide array of sectors. Apart from world-class logistics, DIP offers business-friendly environment and proximity to key transit points for exports. These are the key requirements for the armoured vehicles manufacturing which is evident in the growing number of companies in the sector within DIP.”
Ulugbekhon Maksumov, CEO of Inkas Vehicles, said: “At present, Inkas is manufacturing 1,000 vehicles annually at our existing plant within DIP, and this will be augmented to 1,600 vehicles with the new factory. Certified by recognized ballistics laboratories worldwide, Inkas armoured vehicles ensure 100% compliance with the world standards, and we aim to further build on our market leadership with the new facility. We expect sales of Dh1.2 billion in the coming two years.”
Accommodating the production of up to 50 vehicles per month in the UAE, 40 vehicles in Canada and 20 vehicles from an additional service workshop, Inkas turns around large orders in limited timeframes with its engineering and design capabilities.
Since its inception, DIP has attracted over 3,500 companies across a wide array of sectors.