Khalifa Economic Zones Abu Dhabi (KEZAD) Group has signed a land lease agreement with Spain's Tubacex Group to develop an advanced manufacturing facility in the United Arab Emirates (UAE).
The agreement was signed by AD Ports Group Economic Cities and Free Zones CEO Abdullah al-Hameli, and Tubacex Group CEO Jesús Esmorís, at the ‘Make it in the Emirates’ forum.
The signing ceremony was attended by the UAE's minister of Industry and Advanced Technology Sultan al-Jaber, as well as AD Ports Group managing director and group CEO Mohamed Juma al-Shamisi.
Located in KEZAD, the facility for OCTG-CRA tubular solutions will cover an area of 50,000m², which will allow Tubacex to establish a strong presence in the UAE while serving its global clientele.
The company specialises in providing stainless-steel tubular solutions for the energy market and operates as a fully integrated broad-service enterprise.
Al-Hameli said: “KEZAD continues to welcome the best-in-class companies to establish their presence in Abu Dhabi, as we drive forward in our aim to become the leading hub in the region for manufacturing and innovation.
"Tubacex Group’s global leadership in tubular solutions perfectly aligns with our vision for industrial excellence. Our infrastructure and services will help the company enhance its offering and benefit not only the Abu Dhabi industrial ecosystem but the region and the world from its base in KEZAD.”
The facility is expected to be operational by the end of next year.
The collaboration between the two companies demonstrates KEZAD's commitment to its national strategy for industry and advanced technology, 'Operation 300 billion', which aims to boost the industrial sector's contribution to the UAE's gross domestic product.
Esmorís added: “Through this investment we expand our existing footprint in the UAE, in the core of a key global energy hub.
"Tubacex will implement in Abu Dhabi the sector’s most advanced, sustainable manufacturing technologies, and thus secure the supply of a key component needed for the UAE to meet its increasing natural gas production targets which play a crucial role in the energy transition landscape.”
