Damas Jewellery LLC is planning to join hands with Emaar Industries and Investments (EII) for setting up a jewellery unit in Dubai next month.
This unit will be named 'Emirates Jewellery Manufacturing Company' and it could achieve turnover of AED1 billion ($272.3 million) in future.
Factory will be the biggest of its type in UAE. Dubai, the City of Gold, will get another feather in its cap as gold sector is expanding quickly here.
Speaking to the media, Damas Managing Director Tawhid Abdullah informed that nearly 50 percent of unit's total production will go to company's retail outlets in the country. Remaining part will be exported to its overseas stores and to other firms.
Factory will also make jewellery for catering to the requirements of international brands.
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