UAE-based TGT Diagnostics, which provides well diagnostics to the hydrocarbons industry, announced that it will build a new technology hub in Abu Dhabi.

The company has signed an agreement with Khalifa Economic Zones Abu Dhabi (KEZAD Group) for the new facility, it said in a press statement.

The facility, which is being set up at a “significant investment” will be functional by the year-end, the statement noted, adding that it will be home to TGT’s scientific and engineering resources, research and development, information technology, software and AI development, manufacturing, maintenance, quality assurance, and headquarter functions.

A high-tech manufacturing centre within the hub will enable the company to meet demand for its diagnostic systems and products worldwide, it said.

The statement said TGT is on target to launch its first full production series of UAE-made diagnostic systems by 2024.

(Writing by SA Kader; Editing by Anoop Menon)