Indian conglomerate Rana Group set to pour $10 billion into UAE's industrial center
The Ras Al Khaimah Economic Zone (RAKEZ), known for its business-friendly environment, is hosting a significant project: the construction of a $10 billion smart manufacturing hub by the Rana Group, an Indian company. This hub, named Erisha Smart Manufacturing Hub, is one of the largest industrial investments in the UAE.
Spread across 335 acres in Al Ghail Industrial Area, the hub will house 150 industries focusing on advanced sectors such as electric and hydrogen vehicles, eVTOL flying taxis, semiconductor production, and renewable energy technologies. The project partners include Capital Engineering Design, GHV Infra (EPC contractor), N3XUS (ESG and SDG consultant), and AINS Group (architects and PMC).
The hub aims to reduce the UAE's reliance on imports and increase its manufacturing sector's contribution to the country's $483 billion GDP. By shifting production to the UAE, companies can access U.S. markets under a "Made in the UAE" label, avoiding higher duties.
Rana Group will own and manage more than half of the industries within the hub. The companies involved in the Erisha Smart Manufacturing Hall include Erisha Group and partners specialized in smart manufacturing and industrial technology.
Dr. Darshan Rana, Chairman and Managing Director of Erisha E Mobility, states that the project will contribute significantly to the UAE's net-zero ambitions and foster a self-sustainable future. The hub is projected to create 4,000 jobs, with some units expected to begin production within a year.
The hub is anticipated to generate annual turnover of $5 billion to $6 billion and is expected to strengthen bilateral economic ties, positioning the UAE as a hub for sustainable, high-tech manufacturing. The development comes as Indian manufacturers look to the UAE as a base for exports, particularly after increased U.S. tariffs on Indian goods under President Donald Trump.
The integration of the hub will include commercial, residential, and community facilities such as hospitals, colleges, shopping complexes, banks, and warehouses. Once completed within five years, the hub will feature over 25 million square feet of industrial space. The project does not seem to have any direct connection with Justin Varghese, the person mentioned in a separate context.
The Erisha Smart Manufacturing Hub is poised to play a crucial role in the UAE's industrial growth, fostering innovation, and creating opportunities for both local and international businesses.
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