Abu Dhabi's Kizad sees $322m new investments in Q1
Abu Dhabi Ports has announced that it signed nine standard musataha agreements (SMAs) in the first quarter of 2015, increasing the number of investors in Khalifa Port's Industrial Zone (Kizad) by 15 percent in just three months.
Four of the companies have already announced their commitment to invest in the industrial zone including National Catering Company, Gulf Precast, Safe Care Medical and Advanced Manufacturing Solutions.
A further five companies have now signed SMAs with Abu Dhabi Ports, including HCG, Afaq Al Khaleej, Schmidt Logistics, Naseem Al Bawadi and Tmdeed.
Combined the nine new investors represent an investment worth more than $232 million and their new plots cover a land area of over 422,000 square metres.
Mohamed Juma Al Shamisi, CEO, 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."
To date, 71 national and international investors have chosen Kizad as their production or logistics base. Ten of these will have completed construction and will be fully operational by the end of this year.
Abu Dhabi Ports has now leased a total of 11 million square metres of land in the trade and logistics zone, which represents a total investment of more than $13 billion.
Once these investors are fully operational, Khalifa Port's throughput is expected to increase by 900,000 tonnes of general cargo and containers annually.
SOURCE: Arabian Business