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Wednesday, October 4, 2023

Abu Dhabi’s industrial sector gets major boost with 8 new projects


The Abu Dhabi Investment Office (ADIO) and its partners have signed eight new projects with high-growth companies covering key sectors such as manufacturing, banking, oil and gas, pharmaceuticals and healthcare, the UAE capital’s industrial sector will receive major push.

During the forum, ADIO also signed an agreement with the Abu Dhabi Islamic Bank (ADIB) to support the industrial sector.

Abu Dhabi’s ambitious industrial strategy aims to double the sector’s GDP contribution by 2031, leveraging strong enablers such as infrastructure, competitive operating costs, regulations to facilitate business development and access to finance.

Projects announced by Kezad Group, Infinity Green, Vitamol, ADAFZ, A2N Holdings, EMIC, Mark AB Capital Investment, SuperJet International, Oil Man, United Eastern Group, Orion Italy and Petrona Gulf DWC will significantly accelerate manufacturing growth in the UAE capital according to .

“The UAE continues to advance its strategy of placing advanced manufacturing at the heart of the economy,” said ADIO Director General Engineer Abdulla Abdul Aziz AlShamsi.

“In Abu Dhabi, the UAE’s innovation ecosystem, well-established infrastructure and exceptional connectivity to markets in the Middle East, Europe, Asia and Africa continue to create unparalleled opportunities for investors,” he said.

“We welcome the latest batch of industrial companies to Abu Dhabi and look forward to working with our government partners to support their continued success in the UAE capital,” he added.

Omar Al Suwaidi, Deputy Minister of Industry and Advanced Technology, said: “These projects represent a major milestone in our pursuit of sustainable industrial development, supporting Abu Dhabi’s position as a manufacturing powerhouse.”

“This position is underpinned by the UAE’s strategic location and unique value proposition, which are great magnets for industrial investment, offering unparalleled opportunities for growth. Our nation prides itself on delivering state-of-the-art infrastructure and nurturing priority sectors , and the industry of the future,” he added.

The MoU signed by ADIO during the forum will power the next wave of growth in Abu Dhabi’s industrial sector.

A2N Holdings, an Abu Dhabi-based company with an extensive portfolio in healthcare and distribution, is embarking on a ground-breaking investment to build the first fully integrated state-of-the-art IV solution in the UAE Scheme manufacturing plant.

Emirates Investment Corporation (EMIC), a diversified investment company with a portfolio spanning a range of industries including aviation, hospitality, facilities management, oil and gas and retail, will build a ground-breaking solar manufacturing facility in Mussafah that will use Cutting-edge automation technology for manufacturing solar products from cells to panels.

Infinity Green, a subsidiary of India’s Sathi Group, has been bringing green solutions to the UAE for two decades.

The leading cement manufacturer has signed a memorandum of understanding with the Kezad Group to establish the first fully automated integrated glass recycling plant in the Gulf region.

Pioneering UAE-based company Oil Man has signed a Memorandum of Understanding to establish a state-of-the-art facility for the design and manufacture of advanced drilling tools and pipeline repair equipment. This initiative underscores their role as technology owners and developers, contributing to the growth of local industry.

Memorandum of Understanding between UAE-based private equity firm Mark AB Capital Investment and Italy-based Italian airline SuperJet International (SJI) to support the development of the UAE’s civil aviation industry through the establishment of a National Aeronautics and Space Agency – Art installations in Al Ain .

Vitamol, a researcher and manufacturer focused on producing high-quality functional powder products, created through its trademark molecular dispersion technology, signed a memorandum of understanding with Abu Dhabi Airport Free Zone (ADAFZ) ) to establish a major research and manufacturing plant ADAFZ for pharmaceutical applications and global export of local camel milk powder.

United Eastern Group, in partnership with Orion Italy and Petrona Gulf DWC, will establish a United Clad Technology manufacturing facility in Abu Dhabi to produce composite pipe, fittings, flanges, valves and elbows for the oil and gas industry.

The MoU signed with Abu Dhabi Islamic Bank (ADIB), the leading Abu Dhabi-based and Abu Dhabi-listed bank in the UAE, will support domestic players and investors in the industrial sector.

Copyright 2022 Al Hilal Publishing and Marketing Group Courtesy of SyndiGate Media Inc. (Syndicate Information).


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