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The Industrial Partnership for Sustainable Economic Development, a regional initiative involving large-scale projects in the UAE, Egypt and Jordan, has shortlisted 12 projects worth US$3.4 billion for feasibility studies.
According to a press statement issued by the UAE Ministry of Industry and Advanced Technology, the projects were shortlisted from 87 industrial project proposals received from partners, focusing on the fertilizer, agriculture and food sectors.
The announcement was made at the second meeting of the High Council for Industrial Partnerships in Cairo, Egypt, last month.
In the next phase, the partnership will focus on the metals, chemicals, plastics, textile and apparel industries, the statement said.
At the meeting, the High Committee welcomed Bahrain as the newest member of the partnership.
Bahrain, a major producer of primary aluminum, will increase the partnership’s gross industrial manufacturing value added from $106.26 billion to $112.5 billion, the statement said.
The Industrial Partnership for Sustainable Economic Development, launched in Abu Dhabi earlier this year, aims to build large-scale joint industrial projects that create jobs, boost economic output, diversify partner countries’ economies, support industrial production and increase exports.
(Writing by Eman Hamed; Editing by Anoop Menon)
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