14 Dhu al-Hijjah 1445 - 21 June 2024
    
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Eye of Riyadh
Technology & IT | Tuesday 11 June, 2024 9:21 am |
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E7 Group to invest AED182 million in security solutions business segment

E7 Group today announced plans to invest AED182 million (approximately US$50 million) in ambitious organic growth initiatives across its security solutions business segment, E7 Security.

 

E7’s planned investments will bolster its passport manufacturing capacity and enable its entry into the digital tax stamps segment.

 

The tax stamps industry is a high-growth area globally, and E7 intends to support governments worldwide in curbing the illicit trade of excisable goods and enhancing revenue generation.

 

E7 Group will also invest in increasing its passport production capacity fivefold, with the planned capacity expansion to come online in 2026 as it continues to secure new contracts and broaden its market reach.

 

Ali Saif Ali Abdulla Alnuaimi, Chief Executive Officer of E7 Group, said, “The significant planned investment in E7 Security reaffirms our commitment to our long-term growth story and is evidence of our continued innovation and value creation in E7 Security, one of E7 Group’s core business segments.

 

The security solutions industry continues to deliver strong growth globally, with our technical expertise and track record opening doors across geographies.”

 

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