Mar 09 2014
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Kizad bullish about growth this year
Sunday, Mar 09, 2014
Abu Dhabi: Khalifa Industrial Zone Abu Dhabi (Kizad) chief executive is confident 2014 will be a year of positive growth after the industrial zone in Aturned an annual profit last year.
“When I compare our annual target versus how much is in our pipeline I have three times in my pipeline than what I’m supposed to deliver on a yearly basis,” Khalid Salmeen said in an interview.
Kizad is slated to grow to a total size of 420 square kilometres. However, after launching in 2010 it is performing ahead of forecasts.
“There is no reason [Kizad] should go back” from being a “profitable organisation,” he said.
Salmeen said Kizad has been able to sign up customers faster than expected while also spending less with lower costs.
Bullish on potential
Kizad is a private company that is owned by the Abu Dhabi government. It does not release forecasts but Salmeen said he is bullish on the potential of projects in the pipeline.
“I think we have a number of big projects if we’re able to get them in we could easily double our targets,” he said.
On Sunday, Kizad announced that Spinneys, the UAE supermarket chain, has signed a 50-year agreement to build and operate a dedicated cold storage distribution centre across 382.9 thousand square feet.
In June, Brazilian President Dilma Rousseff is expected to visit Kizad to inaugurate the Dh500 million BRF Brazil Foods facility. Last month, Kizad signed up National Food Products Company (NFPC) to invest Dh1.5 billion to consolidation its production facilities in the industrial zone.
By Alexander Cornwell Staff Reporter
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