China's National Development and Reform Commission (NDRC) announced last week that construction of China-UAE Industrial Capacity Cooperation Demonstration Zone, located in Abu Dhabi's Khalifa Industrial Zone (KIZAD), is proceeding "non-stop."

By the end of 2020, the Zone would have 80,000 square metres of buildings, and 8.5 kilometres of roads and pipes with a total investment of nearly 800 million yuan ($119 million), NDRC said in a press statement.

The NDRC statement said to date, agreements for eight manufacturing projects totalling 340 million yuan ($51 million) in investment value have been signed, adding that total investment in the Zone would exceed 10 billion yuan ($1.5 billion) after the completion of its 2.2 square kilometre initial phase.

China-UAE Industrial Capacity Cooperation Demonstration Zone was established under an agreement between Jiangsu Provincial Overseas Cooperation and Investment Company (JOCIC) and KIZAD in July 2017.

(1 US Dollar = 6.69 Chinese Yuan)

(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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