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ABU DHABI, 9th June, 2023 (WAM) — Khalifa Economic Zone, Abu Dhabi – Abu Dhabi’s integrated economic and industrial hub, KEZAD Group, today announced the signing of a land lease agreement with Spain’s Tubacex Group to develop a country – The state-of-the-art OCTG-CRA Tube Solutions manufacturing facility is the first of its kind in the Middle East and is expected to be operational by the end of 2024.
AD Ports Group, represented by Abdullah Al Hameli, CEO of Economic Cities and Free Zones, and Tubacex Group, represented by CEO Jesús Esmorís, signed an agreement during the Make it in the Emirates forum. The signing ceremony was witnessed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group. Held from May 31 to June 1, 2023, the forum is organized by the Ministry of Industry and Advanced Technology (MoIAT) in partnership with the Ministry of Economic Development and ADNOC, under the theme “Investment, Sustainability, Growth”.
This collaboration is supported by MoIAT, an effort that brings together committed offtake agreements, enablers, incentives and financing providers to nurture the industrial sector. It also marks KEZAD’s commitment to supporting the National Industrial and Advanced Technology Strategy ‘Action 300 Billion’, which aims to boost the industrial sector’s contribution to GDP, which reached an impressive AED 180 billion last year. Furthermore, it aims to develop the UAE’s industrial sector, enhance its role in stimulating the national economy, increase its contribution to GDP, and strengthen the UAE’s position as a regional and international industrial center that attracts industrial investment. By partnering with Tubacex Group, KEZAD aims to further improve the localization and resilience of the supply chain.
The 50,000 square meter facility to be developed at KEZAD will enable Tubacex to establish a strong presence in the UAE while gaining access to its global network of clients. The company provides a wide range of stainless steel tube solutions for the energy market and is a fully integrated one-stop shop.
Abdullah Al Hameli said: “KEZAD continues to welcome top-notch companies to establish operations in Abu Dhabi as we progress towards our goal of becoming the region’s leading manufacturing and innovation hub. Tubacex Group’s global leadership in tubular solutions aligns with our The vision for industrial excellence is a perfect fit. Our infrastructure and services will help the company strengthen its offerings and benefit not only the Abu Dhabi industrial ecosystem, but the region and the world from its base in KEZAD.”
Jesús Esmorís said: “We are delighted to open our office in Abu Dhabi, as the UAE, and KEZAD in particular, has always proven to be the right location to provide an excellent operational framework and connectivity to our global clients. Through this investment, we Expanding on our existing footprint in the UAE, the heart of a key global energy hub.Tubacex will implement the industry’s most advanced sustainable manufacturing technology in Abu Dhabi, ensuring the UAE meets its growing gas production targets The supply of key components needed in this area plays a vital role in the field of energy transition.”
Tubacex is a global leader in the design, manufacture and installation of advanced industrial products and high value-added services for the energy and transportation sectors. Tubacex brings value to its customers through its global presence, with production plants and service centers in Spain, Austria, Italy, USA, India, Thailand, Saudi Arabia, United Arab Emirates, Norway, Canada, Singapore, Guyana and Kazakhstan. Its sustainability and environmental policies are recognized by leading ESG certification organizations such as Science-Based Targets (SBT) emissions reduction commitments, an A- rating from CDP (Carbon Disclosure Project), and sustainability standards from S&P and Ecovadis . Tubacex has been listed on the Spanish Stock Exchange since 1970 as part of the Ibex Small Cap Index.
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