Source: Khaleej Times
The capital’s under-construction Khalifa Industrial Zone Abu Dhabi, or Kizad, has investment commitments of 30 industrial projects valued at $5 billion that will be built in two to three years, a top official said.
Without giving further details of the projects, Khaled Salmeen, executive vice-president of the Abu Dhabi Port Company, or ADPC said: “A series of announcements would be made in next couple of months.”
An excited Salmeen, who launched an aggressive marketing campaign to attract the industrialists and investors in India, South Korea, China and Germany, said that the response was very good.
Abu Dhabi wants utilisation of its raw material by value addition, and not just by simple manufacturing, he said.
At a briefing on the signing of a lease agreement with a public-private partnership project, Salmeen said some projects will be very unique and large.
He hinted on Abu Dhabi’s first glass manufacturing project and a clean-technology project were part of the huge project pipeline.
About the project’s construction itself, he said Khalifa Port and industrial Zone is “ahead” of its construction scheduled with 90 per cent of the work is complete.
“The port is 90 per cent done while the first phase of the industrial zone is 78 per cent complete,” making the whole project 86 per cent complete, he said.
Kizad is a 417 square-kilometre industrial zone located between Abu Dhabi and Dubai. With one of the world’s most advanced deepwater seaports being built, the project will benefit from multimodal connectivity via sea, air, road and rail networks to ensure easy accessibility to and from the industrial zone.
The budget for phase one, which will be spread on 51 square kilometres, will be Dh26.5 billion. It is set to open in the fourth quarter of next year, Salmeen said.
The industrial zone is part of the Abu Dhabi Economic Vision 2030, which also highlights the drive to diversification of the economy to boost growth that is less dependent on the traditional oil and gas industries.
By 2030, Kizad is projected to contribute up to 15 per cent of Abu Dhabi’s non-oil gross domestic product.
There will be spaces dedicated for aluminium, steel, engineering, metal products, petrochemicals/chemicals, pharmaceutical, healthcare, food, paper, printing, packaging, trade, logistics and mixed-use clusters.
In order to serve the investors, Salmeen said that a “one window shop” will start working from January allowing investors to get their regulatory approvals and permissions done.
“It will provide 240 different services to the investors including, visa and immigration, designs approval and permissions from 17 government agencies and departments,” he said.
Part of the services is accommodation for the workers, who would run the up-coming plants and manufacturing facilities, he said.
ADPC will announce a project involving private sector to building residential complexes in the first quarter of next year.