(MENAFN- Khaleej Times) 71 firms pour investments in various sectors.
Abu Dhabi: Leading local and international companies have invested Dh47.75 billion in setting up 71 industries and logistical facilities in Abu Dhabi’s Khalifa Industrial Zone or Kizad.
Ten of these projects will becompleted and will be fully operational by the end of this year says Abu Dhabi Ports which is the master developer of the industrial zone and Khalifa Port.
The developer has now leased a total of 11 million sqm of land in the trade and logistics zone which represents a total investment of more than Dh47.75 billion.
Kizad has announced that it signed nine standard musataha agreements or SMAs in the first quarter of 2015.
Four of the companies have already announced their commitment to invest in the industrial zone. These include National Catering Company Gulf Precast Safe Care Medical and most recently Advanced Manufacturing Solutions which will manufacture automotive spare parts brake pads and discs.
A further five companies have now signed SMAs with Abu Dhabi Ports including HCG Afaq Al Khaleej Schmidt Logistics Naseem Al Bawadi and Tmdeed. All of these companies have international business links and are — in different ways — logistics-focused.
Combined the nine new investors represent an investment worth more than Dh853 million and their new plots cover a land area of over 422000 sqm.
The close proximity of Khalifa Port and its transport infrastructure were key deciding points for all of the investor companies. Khalifa Port and Kizad are intrinsically linked offering supply chain efficiencies that will add significant value to these latest business operations.
Capt Mohamed Juma Al Shamisi chief executive officer of Abu Dhabi Ports said: “We are now observing a cumulative effect across the Khalifa Port trade and industrial zone as more companies become operational and more are attracted to the zone because of its superb location transport links world class infrastructure and competitive operating costs.”
“The first quarter of this year has been an exceptional one. I welcome these new investors and congratulate them on choosing an ideal location to build their business operations. The many advantages offered by such close proximity to Khalifa Port and the industrial zones outstanding services and infrastructure will help each company to achieve its business goals.”
Once these investors are fully operational Khalifa Port’s throughput is expected to increase by 900000 tonnes of general cargo and containers annually.
Established in 2006 Abu Dhabi Ports’ core objective is to facilitate the diversification of the economy by stimulating trade and development. This is done by delivering high-quality maritime services supporting partners’ infrastructure projects and setting up new companies and joint ventures in the ports and logistics sectors.
Phase one of Khalifa Port has a capacity of 2.5 million TEU and 12 million tonnes of general cargo. Further phases of development will occur as market demand requires.
When all phases are complete Khalifa Port will be able to handle 15 million TEU and 35 million tonnes of general cargo per year.
Abu Dhabi Ports manages nine commercial logistics community and leisure ports and Khalifa Industrial Zone which is serving a range of logistics and manufacturing investors.
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