The facility will contribute to Abu Dhabi’s non-oil exports, create 400 jobs
Khalifa Economic Zones Abu Dhabi–KEZAD Group and UAE-based Excel ASTRA Engineering & Construction, a leading construction contractor providing integrated solutions for Energy sector projects, have signed a 50-year lease agreement to set up a fabrication facility in KEZAD.
Excel Astra to invest approximately AED 20mn (US$ 5.45mn) to build the facility on approximately 45,000sqm of land in KEZAD Al Ma’mourah. The facility will leverage on the collective expertise of KEZAD and ASTRA to accelerate growth in the industry sector while creating jobs and providing products and services to the country’s energy sector.
The company sees the creation of around 400 new jobs, and a sales potential of over AED 200mn (US$ 54.5mn) annually. The company’s “Made in the UAE” products are set to enhance the export potential of the emirate.
Ideal infrastructure
“KEZAD always strives to provide an ideal infrastructure to a diverse range of industries, including metal, petrochemicals, oil and gas, food, logistics, and construction materials, with all the benefits of setting up business in Abu Dhabi,” remarked Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones Abu Dhabi -KEZAD Group.
“The signing of the comprehensive agreement shows the shared vision and commitment of both organisations towards fostering growth and development, which will add to the ‘Make it in the Emirates’ initiative,” commented Harish Muhammed Bashir, Managing Director, Excel Astra Engineering and Construction Group.
The facility is likely to source AED 80mn worth of goods and services from the local market annually, thereby strengthening the local economy.
