(MENAFN - Khaleej Times) Khalifa Industrial Zone Abu Dhabi (Kizad) on Tuesday announced the first third party logistics company tenant. A 50 year Musataha Agreement was signed by Khaled Salmeen Al Kawari, CEO and managing director of Kizad, and Alaa Ibrahim, President and CEO, IBR Group.
IBR Group will be assigned a 474,128.73 square feet plot in the logistics free zone cluster in Kizad's Area A and will set up a temperature controlled supply chain building on Kizad's existing distribution service offerings.
By signing with Kizad, IBR Group, with offices in UAE, Germany, Canada and Qatar, will have the opportunity to provide value added services to leading local and international organisations also investing in Kizad.
Khaled Salmeen said: "IBR's investment in Kizad's free zone will allow us to further develop our distribution hub, making Kizad an ever more appealing destination for business partners dependent on cold storage and transportation. This agreement is yet another step towards making Kizad the industrial zone of choice in the region."
Amr Ibrahim, COO and Partner, IBR said: "With our trust in the importance of Kizad, we are planning to build the largest freezers in the region that will be ready to serve our clients by August 2014 as construction works have already begun. Kizad's access to global markets means that IBR will be able to assist local and regional businesses get their products to market quicker and more efficiently."