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- Breaks Ground on UAE Cam Plant
- LUPRO
- 2024-09-02
- 14
LU is rapidly emerging as a new powerhouse in the industry, shaking up the market for state-of-the-art imaging equipment in addition to its green energy business.
Recently, LU and UAE conglomerate AlphaTan jointly launched AlphaTan Eltech Hightech Supervision LLC, which has signed a formal contract to establish a state-of-the-art imaging equipment camera production plant.
This formal contract was signed on the 4th of this month in Dubai, UAE, during the UN Climate Change Conference, by Mohamed Rashed Musabbah Alremeithi, Chairman of the AlphaTan Group, and Se-ho Kim, Chairman of LU.
The investment for the first phase of the local plant construction alone amounts to $30 million. Once the first production plant is completed in the first half of next year, it will enable the production and supply of the necessary quantities locally.
To stably respond to the rapidly increasing demand, additional production plants will be constructed sequentially. Furthermore, a research center will be established locally to collaborate on developing high-tech supervision camera technology optimized for the Middle East region.
