Abu Dhabi Ports to foster an integrated business environment to facilitate greater industrial diversification
ADQ, one of the region’s largest holding companies with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s non-oil economy, recently announced the merger between two of its portfolio companies.
Under a decree by Abu Dhabi Executive Council, the Higher Corporation for Specialized Economic Zones (ZonesCorp) joins Abu Dhabi Ports.
As part of Abu Dhabi Ports, ZonesCorp will benefit from strategic alignment with Khalifa Industrial Zone Abu Dhabi (KIZAD), one of the world’s largest industrial zones spanning 410 square kilometers, which is owned and managed by AD Ports.
“As Abu Dhabi continues to grow as a key player in international trade and logistics, ADQ is further reinforcing this value proposition by merging ZonesCorp into Abu Dhabi Ports,” affirmed Khalifa Sultan Al Suwaidi, Chief Investment Officer, ADQ.
“This transition of ZonesCorp to Abu Dhabi Ports is beneficial to all parties involved – partners, employees, and, most importantly, our customers,” remarked Falah Mohammed Al Ahbabi, Chairman of Abu Dhabi Ports and Chairman of the Higher Corporation for Specialized Economic Zones.
“By working together more closely, and more strategically, we will leverage our strengths in order to boost the competitive value of our industrial zones within the global marketplace,” commented Capt. Mohamed Juma Al Shamisi, Group CEO, Abu Dhabi Ports.
Abu Dhabi Port’s industrial and economic zones offering now have a combined land area of 554 square kilometres and more than 1,400 customers. ZonesCorp’s economic zones currently have over 900 manufacturing and commercial facilities that have attracted investments of around AED 70bn US$ 19.06bn).
With KIZAD’s investments at over AED 73bn (US$ 19.9bn), the total investments attracted by Abu Dhabi Ports’ subsidiaries currently stand at AED 143bn (US$ 38.95bn).
