Latest news with #ChooseNewJersey
Gulf News
02-05-2025
- Business
- Gulf News
UAE's Hotpack to invest $100 million in new US manufacturing facility
Dubai: UAE-based sustainable packing solutions company Hotpack is investing $100 million in a new manufacturing and distribution facility in New Jersey, USA. As part of the initial phase, the plant in Edison is expected to create 200 jobs over the next 5 years. New Jersey Governor Phil Murphy and officials from Hotpack said the facility would span 70,000 square feet while unveiling the investment on Friday. Operations are expected to begin in June 2025. A major step in Hotpack's international expansion strategy, the company said that the plant will focus on the customisation of cups, containers, and clamshells made from both plastic and paper. The company said this strategic investment is intended to strengthen its ability to serve its growing US customer base with 'greater efficiency and flexibility.' Abdul Jebbar PB, Group CEO and Managing Director of Hotpack, said, 'This investment reflects our dedication to better serving our clients in the US market and contributes to the local economy through job creation and advanced manufacturing capabilities.' Wesley Mathews, President and CEO of Choose New Jersey - the state's non-profit business attraction organisation - said they look forward to supporting Hotpack's growth as it brings high-quality jobs and sustainable innovation to our region. Hotpack's investment follows the March announcement in which the UAE committed to a 10-year investment framework of $1.4 trillion in the United States. The White House said in a statement in March that the framework will 'substantially increase the UAE's existing investments in the U.S. economy' in AI infrastructure, semiconductors, energy, and manufacturing. UAE investment in the US UAE entities are significantly boosting their investment across strategic sectors in the United States, representing a substantial flow of UAE capital into critical areas of the US economy. This includes a major AI Infrastructure Partnership involving Abu Dhabi's MGX, BlackRock, Microsoft, and others, which aims to mobilise up to $100 billion for building a next-generation data centre and energy infrastructure supporting US AI leadership. Separately, UAE investment fund ADQ and US partner Energy Capital Partners announced a $25 billion US-focused initiative targeting energy infrastructure and data centres. In the energy sector, ADNOC-owned XRG has committed to investing in US natural gas production and exports and plans further substantial investments across gas, chemicals, energy infrastructure, and low-carbon solutions in the US. Furthermore, Emirates Global Aluminum (EGA) plans to invest in the first new aluminium smelter in the United States in 35 years, expected to double US domestic aluminium production. Shortly after US President Donald Trump won the 2024 elections, UAE developer Damac pledged to invest $20 billion to build data centres in the US. Hotpack expansion Meanwhile, Hotpack said the new site intends to "strengthen its global supply chain and provide localised customer support in one of the world's largest packaging markets." 'We have made significant investments in different countries, which includes investment in 2022 for a biodegradable packaging facility in Malaysia, expansion of manufacturing facilities in Saudi Arabia and our dedicated paper products manufacturing facility in India has been fully functional since 2023, further underlining our role in supporting regional and global markets,' Jebbar added. New Jersey Governor Phil Murphy, who was in Dubai leading the New Jersey economic mission to the Gulf Arab States, said, 'Hotpack's decision to expand its presence in New Jersey is a powerful endorsement of our state's strategic location, skilled workforce, and robust infrastructure.'
Zawya
27-04-2025
- Business
- Zawya
Governor Murphy witnesses signing LoI between Rutgers University and King Saud University
Agreement strengthens research in areas including urban planning and city development Riyadh, Saudi Arabia — As part of its Governor-led economic mission to the Gulf Arab States, Governor Murphy and Choose New Jersey today facilitated the signing of a Letter of Intent (LOI) between Rutgers University and King Saud University to establish academic collaboration in public policy research. 'The future of New Jersey's economic success is strengthened by our commitment to securing new international relationships,' said Governor Phil Murphy. 'This collaboration will enhance bilateral academic exchange and open opportunities to support New Jersey's educational resources and economic growth.' The LOI establishes a framework for the two institutions to collaborate in the fields of public policy, management, business administration, urban planning, city development, and other areas of study to increase economic and academic cooperation. 'The Rutgers Business School and the Edward J. Bloustein School of Planning and Public Policy, both nationally and internally recognized, will lead the collaborative initiatives with King Saud University,' said Antonio M. Calcado, Executive Vice President & Chief Operating Officer of Rutgers University. 'By sharing knowledge and strategies, this partnership will bring new academic and cultural perspectives to students, which is critical to finding innovative solutions to the challenges facing both regions.' "As one of America's oldest and respected public research and academic institutions and a recognized leader across multiple fields, Rutgers University prides itself on developing collaborations that foster innovation, enrich students and enhance learning," said Amy L. Towers, Chair, Rutgers University Board of Governors. "By exploring academic exchanges with international partners, like King Saud University, we can create educational growth and opportunity through new perspectives, increased understanding, shared strategies that benefit students of both institutions." The LOI also prioritizes research that can support continued development within New Jersey, attract businesses, and increase investment in urban areas and downtowns. 'King Saud University strategically partners with institutions that share our commitment to innovative research in diverse industries on a global scale,' said the University's Vice President for Graduate Studies and Scientific Research, Prof. Yazeed Al-Sheikh. 'This partnership allows our students to achieve academic excellence while addressing shared priorities with these institutions.' Dr. Abdullah Althabt, Dean of King Abdullah Institute for Research and Consulting Studies (KAI) said, 'The Letter of Intent paves the way for King Saud University and Rutgers University to explore future opportunities for collaboration in Executive Master's and professional training programs aimed at building the capacity of municipal officials across Saudi Arabia. This academic partnership was initiated through dialogue between the Edward J. Bloustein School of Planning and Public Policy at Rutgers University and the College of Architecture and Planning at King Saud University.' 'Collaboration is the key to effective public policy, and this Letter of Intent is a commitment by New Jersey to continuously improve our educational resources,' said Wesley Mathews, President and CEO of Choose New Jersey. 'As New Jersey strengthens its international relationships in academia, our students are able to meet the rising demands of key industries and become part of our skilled workforce.' About Choose New Jersey Choose New Jersey is the state's leading non-profit business attraction organization. We harness the collective power of New Jersey's business, government, labor, and academic sectors to expand New Jersey's economy. We work globally, using our marketing expertise, concierge business development services, deep knowledge of the state, and convening power, in collaboration with state government, to empower businesses, entrepreneurs, leaders, and innovators to make New Jersey their home. Learn more at About Rutgers University Rutgers, The State University of New Jersey, is a leading national research university and the state of New Jersey's preeminent, comprehensive public institution of higher education. Established in 1766, the university is the eighth-oldest higher education institution in the United States. More than 67,000 students and 27,400 faculty and staff learn, work, and serve the public at Rutgers-New Brunswick, Rutgers-Newark, Rutgers-Camden, and Rutgers Health. About King Saud University King Saud University (KSU) was established in 1957 and is the first university in Saudi Arabia and a leading institution for higher education, research, and innovation. Based in Riyadh, KSU is home to over 70,000 students and offers diverse academic programs, including one of the region's top Colleges of Architecture and Planning. The university is key in advancing Saudi Vision 2030 through its contributions to urban development, sustainability, and national capacity building. To view the full LOI, click here.
