Abu Dhabi Ports Company (ADPC), a master developer of ports and industrial zones in the UAE capital, is preparing to deliver the Khalifa Industrial Zone (Kizad) within the last quarter of 2012 at an estimated cost of around AED 26.5 billion. Kizad, together with Khalifa Port, is expected to contribute about 15% of the total non-oil GDP of the emirate by 2030.
Khaled Salmeen Al-Kawari, executive vice president for Industrial Zones at ADPC, said Port Khalifa is 93% complete and Kizad 66% complete. Kizad occupies nearly 417 square kilometers of land in the Al Taweela area between Abu Dhabi and Dubai, which helps to facilitate the movement of goods to and from the industrial zone.
During 2011, Kizad attracted 30 companies with a total investment of around USD 5 billion. Freehold contracts for Kizad may last up to 50 years, renewable, and bank financing is available in partnership with National Bank of Abu Dhabi, HSBC, Citibank and Bank of Baroda.
The first phase area of Kizad is approximately 51 square kilometers, and is a major focus of Abu Dhabi's Vision 2030, which aims to diversify the economic resources to achieve sustainable growth and reduce dependence on oil.
Equipment, forks and cranes to be used at Khalifa Port will be positioned this month, but operations at Mina Zayed will continue, Al-Kawari said.
© Zawya 2012
