Ras Al Khaimah Economic Zone (RAKEZ) and AJT Holding International Limited have signed a memorandum of understanding in Fuzhou, China, for an additional USD 50 million investment to expand packaging manufacturing operations in Ras Al Khaimah.
The agreement was witnessed by Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, during a visit by a Ras Al Khaimah delegation to China.
Signatories included RAKEZ Group CEO Ramy Jallad, Jihong Chairwoman Zhuang Hao and BMJ Chairman Ahmad Bkairat.
The expansion will be carried out through AJT Printing and Packaging FZ-LLC, a joint venture between Chinese packaging manufacturer Jihong and BMJ Industries, which operates a business network across the Middle East and Africa.
Under the second phase of development, AJT plans to install production lines for water-based and UV inks and environmentally friendly paper bags. The company also intends to increase its warehousing and logistics capacity, with additional industrial space envisaged for future expansion.
AJT already operates integrated printing, packaging and corrugated carton manufacturing facilities within RAKEZ. These facilities supply packaging for the food and beverage, retail, consumer goods and logistics industries.
The new investment is intended to diversify AJT’s product portfolio, expand manufacturing capacity and support supply to regional and international markets.
Commenting on the agreement, Jallad said: “AJT’s decision to further invest in Ras Al Khaimah reflects the confidence that international manufacturers place in our industrial ecosystem and the opportunities available for long-term growth.”
The agreement builds on AJT’s existing investment in Ras Al Khaimah and forms part of RAKEZ’s efforts to attract and retain international manufacturers. It also provides for expanded production and supporting infrastructure at the company’s established industrial operations in the emirate, covering both existing facilities and proposed new lines.