$5 billion of projects queue up for Abu Dhabi's Kizad

Khalifa Industrial Zone Abu Dhabi (Kizad) has US$5 billion (Dh18.4bn) of committed projects from over 30 industrial companies as the manufacturing zone maps out its future.

Khalifa Industrial Zone Abu Dhabi (Kizad) has US$5 billion (Dh18.4bn) of committed projects from over 30 industrial companies spanning glass to clean technology, says a senior official.

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The industrial zone in Al Taweelah hopes to announce the names of the firms in the first half of next year, said Khaled Salmeen, executive vice president of Industrial Zones, Abu Dhabi Ports Company (ADPC), the parent company of Kizad.

"We have US$5 billion of committed projects," he said. "We are able to attract very valuable industries with huge know-how."

Kizad was launched as a key tool in Abu Dhabi's plans to diversify its economy. It aims to account for 15 per cent of Abu Dhabi non-oil GDP by 2030.

Yesterday Kizad announced the name of its second tenant for the project: Taweelah Extrusion Company (Talex).

Under the Dh735 million investment, Talex will set up in Kizad's aluminium cluster alongside Emirates Aluminium, which is the core tenant within the cluster. Emal, which is 50 per cent joint owned by the Abu Dhabi Government and Dubai Aluminium (Dubal), is Kizad's first tenant.