The UAE capital's industrial sector is set for a major boost with eight new projects inked by Abu Dhabi Investment Office (ADIO) and its partners with high-growth companies covering vital areas including manufacturing, banking, oil & gas, pharmaceuticals and healthcare.
During the Forum, ADIO also signed an agreement with 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 operational costs, business-enabling regulations and access to financing.
The 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 the growth of the UAE capital’s manufacturing base.
Engineer Abdulla Abdul Aziz AlShamsi, the Director General of ADIO, said: "The UAE continues to power ahead with its strategy to place advanced manufacturing at the heart of the economy."
"Within Abu Dhabi, the emirate’s innovation ecosystem, established infrastructure and exceptional connectivity to markets in the Middle East, Europe, Asia and Africa continue to create unparalleled opportunities for investors," he stated.
"We welcome the latest group of industrial companies to Abu Dhabi and look forward to working with our partners across government to support their sustained success in the UAE capital," he added.
Omar Al Suwaidi, Undersecretary, Ministry of Industry and Advanced Technology, said: "These projects represent a remarkable milestone in our pursuit of sustainable industrial development, supporting Abu Dhabi’s position as a manufacturing powerhouse."
"This position is supported by the UAE’s strategic location and unique value proposition, which serve as an important magnet for industrial investment, offering unparalleled opportunities for growth. Our nation takes great pride in providing state-of-the-art infrastructure and fostering priority sectors, as well as industries of the future," he added.
The MoUs signed by ADIO during the Forum will power the next wave of growth of Abu Dhabi’s industrial sector.
A2N Holdings, a company headquartered in Abu Dhabi with an extensive investment portfolio in the healthcare and distribution sectors, is embarking on a ground-breaking venture to establish the first fully integrated state-of-the-art IV solutions manufacturing facility in the UAE.
Emirates Investment Corporation (EMIC), a diversified investment company with a portfolio covering a range of sectors including Aviation, F&B, Facility Management, Oil and Gas and retail, will setup a pioneering solar manufacturing facility in Mussafah, which will employ cutting-edge automated technology to manufacture solar products from cells to panels.
Infinity Green, a subsidiary of India’s Sathi group, has introduced green solutions to the UAE for two decades.
The leading cement manufacturer signed an MoU with Kezad Group to set up the first fully automated and integrated glass recycling plant in the Gulf region.
Oil Man, a pioneering UAE-based company, has signed an MoU to establish a state-of-the-art facility for the design and manufacture of advanced drilling tools and pipeline repair equipment. This initiative emphasises their role as a technology owner and developer, contributing to the growth of the local industry.
The MoU between Mark AB Capital Investment, a UAE based private equity company, and SuperJet International (SJI), an Italian aviation company based in Italy, will support the development of the civil aviation industry in the UAE by establishing a state-of-the-art facility in Al Ain.
Vitamol, a researcher and manufacturer that focuses on the production of high-quality functional powder products, created through its trademarked Molecular Dispersion Technology, signed an MoU along with Abu Dhabi Airports Free Zone (ADAFZ) to build a key research and manufacturing plant located within ADAFZ for pharmaceutical application and global export of local camel milk powder.
United Eastern Group, in partnership with Orion Italy and Petrona Gulf DWC, will set up United Clad Technology, a manufacturing facility in Abu Dhabi to produce clad pipes, fittings, flanges, valves and bends for the Oil & Gas Industry.
The MoU signed with Abu Dhabi Islamic Bank (ADIB), a leading bank in the UAE headquartered and listed in Abu Dhabi will support domestic enterprises and investors in the industrial sector.
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).