Today's Edition
ABU DHABI (WAM)
Khalifa Economic Zones Abu Dhabi (KEZAD Group), the largest operator of integrated and purpose-built economic zones, and UAE-based Apex Engineering Industries have announced the signing of a 50-year land lease agreement for the establishment of a state-of-the-art facility in KEZAD Area A – Al Ma'mourah.
To be developed with an Dh90 million investment by Apex Engineering, the plant will produce industrial parts, components, machinery, and equipment for the oil and gas, locomotive, and defence industries.
Spanning over 40,000 square metres, the facility will utilise advanced engineering for the design and development of innovative systems to serve these sectors.
All operations at the plant will align with environmental protection commitments and uphold the sustainable business practices in KEZAD.
The construction of the proposed plant is set to further propel manufacturing for industries with large-scale undertakings and position KEZAD as the prime hub for extensive industrial development.
The agreement emphasises AD Ports Group’s strategy to attract manufacturing companies from around the world to drive economic growth.
CEO of KEZAD Group, Mohamed Al Khadar Al Ahmed, said, "The establishment of the new plant will be a welcome addition to our ecosystem of diverse industrial manufacturing companies driving sustained economic growth."
"We look forward to the project’s contribution to the UAE’s strategic vision of diversifying its economy and becoming a global hub for innovation," he added.
Partner at Apex Engineering Industries, Nooruddin F. Daud, commented, "Apex Engineering Industries LLC is pleased to set up our state-of-the-art engineering R&D and manufacturing facilities in Abu Dhabi. We aim to provide services to the oil and gas, locomotives, automotive, defence, and engineering sectors in the UAE. We look forward to contributing to the engineering and manufacturing ecosystem of the UAE in general and Abu Dhabi in particular."
"We already have our plant and equipment installed for a unique material treatment process that enhances the lifecycle of metal wear parts like cutting tools, brake discs and gears, thereby providing economic benefits to our customers. The industry-enabling regulations and the business-friendly environment provided by the Abu Dhabi Department of Economic Development (ADDED), coupled with world-class facilities provided by KEZAD, make it a very attractive option to set up our facilities here," he continued.
