PHOTO
State of the art steel foundry will produce high-spec engineered automotive parts for international export via Khalifa Port
Abu Dhabi, UAE: Abu Dhabi Ports has signed a Musataha agreement with Advanced Manufacturing Solutions LLC (AMS), a subsidiary of the FourWinds Group of Companies, to build a state of the art steel foundry producing automotive parts such as steep brake disks and brake calipers for the global automotive industry, at Khalifa Port's Industrial Zone (Kizad).
The new foundry will be developed in three phases and ultimately will have a capacity of 300,000 metric tonnes per annum, making it amongst the largest single-source foundries in the world producing automotive parts.
The steel foundry products will cater for both local and international markets, exporting via Khalifa Port, for end use by the world's largest, high-end vehicle manufacturers such as BMW, VW, and Mercedes-Benz as well as world leading automotive parts companies. One such company, Continental Teves AG, has entered into an agreement to buy the full output of AMS's first production line to support Continental's demand from its European markets and its long-term strategy for the region.
Phase 1 of the foundry, estimated at USD 140 million (AED 514 million), will have an installed capacity of 75,000 metric tonnes per annum, and will produce grey iron for brake discs and ductile iron for brake calipers.
Phase 2 of the project will increase the capacity up to 145,000 metric tonnes per annum and Phase 3 will take the capacity to 300,000 metric tonnes per annum.
Covering 233,000 square meters, the foundry will employ a highly automated process and will be one of the most technologically advanced foundries in the word. Managed and operated by a highly qualified and trained team of experts, the foundry will align its production to the highest quality levels and will meet top international environmental standards.
Mr. Vivek Rao, the CEO of FourWinds Capital Management stated that 'FourWinds Group of Companies, and its parent company, Tharwa Investments highly appreciate the support and dedication of the UAE government and its leadership in paving the way for a successful investment experience in Abu Dhabi. We are also very proud of our local partnership with M O D Royal Projects Management on this project.'
Mr. Rao added that 'our company's strategic choice of Abu Dhabi, and Kizad as the target location of the foundry, falls within the Group's quest to achieve the highest standards at all levels. For us, Kizad represents the perfect location that offers superior quality services and infrastructure that would enable the foundry to be at its level-best in performance, as well as to reach our global customers with ease via Khalifa Port.'
Captain Mohamed Juma Al Shamisi, CEO, Abu Dhabi Ports added, "Abu Dhabi Ports is pleased to welcome its first automotive OEM (original equipment manufacturer) to Kizad. The automotive sector in the UAE has been experiencing double digit growth over the past few years, and having a locally based auto parts and accessories foundry, supports this industry and its growth within the Emirates and the region. In addition, the close proximity to Khalifa Port will enable AMS to reach its international customer network quickly and cost effectively. Abu Dhabi Ports is dedicated in providing the necessary support for the successful development of this important project."
Advanced Manufacturing Solutions is a subsidiary of the FourWinds group of companies and the parent company Tharwa Investments.
The steel foundry falls within the FourWinds Group's strategic direction to focus investments on industries that offer added value and use the latest technologies to meet market demand for unique products.
The new steel foundry represents one component of a series of investments that AMS plans to undertake in Abu Dhabi.
-Ends-
About Abu Dhabi Ports
Established in 2006, Abu Dhabi Ports' core objective is to facilitate the diversification of the economy by stimulating trade and development. This is done by delivering high quality maritime services, supporting partners' infrastructure projects and setting up new companies and joint ventures in the ports and logistics sectors.
The flagship state-of-the -art Khalifa Port and Khalifa Industrial Zone play a big role, supporting the diversification of the economy. Khalifa Port was inaugurated on 12/12/12 by UAE President HH Sheikh Khalifa bin Zayed Al Nahyan. The port's semi-automated container terminal handles all of Abu Dhabi's container traffic, after its transfer from Zayed Port, the historic port in the city centre.
Phase One of Khalifa Port has a capacity of 2.5 million TEUs and 12 million tons of general cargo. Further phases of development will occur as market demand requires. When all phases are complete, Khalifa Port will be able to handle 15 million TEUs and 35 million tons of general cargo per year.
Abu Dhabi Ports manages nine commercial, logistics, community and leisure ports, and Khalifa Industrial Zone which is serving a range of logistics and manufacturing investors. Abu Dhabi Ports is boosting Abu Dhabi's economic growth and diversification, following Abu Dhabi's Economic Vision 2030.
Follow us on twitter: @AbuDhabiPorts
About the FourWinds Group of Companies and Tharwa Investments
The FourWinds Group of Companies was founded in 2005, as a specialized group focusing on investments and projects in infrastructure, industry, natural resources and real estate. The Group has offices in London, Dubai, Kuala Lumpur and Boston and will soon launch offices in Cairo, Amman and Abu Dhabi. The Group employs a global team of dedicated professionals with extensive sector-specific knowledge and experience.
The Group provides to project sponsors access to capital, technical expertise and strategic planning, and to investors direct exposure to unique and attractive projects.
THARWA Investments is the parent company of FourWinds Holdings, and is a leading investment company that identifies value added investment opportunities around the world and engages in delivering and sponsoring world-class performance in sustainable projects.
For further queries, kindly contact:
Mr. Basel Ahmad,
Project Director
Email: bahmad@fwpdgroup.com
© Press Release 2015
