Apex Engineering Industries and KEZAD sign US $24.5mn deal
The plant will produce industrial parts, components, machinery and equipment for the oil and gas, locomotive and defence industries
KEZAD Group and UAE-based Apex Engineering Industries have signed a 50-year land lease agreement for the establishment of a state-of-the-art facility in KEZAD Area A – Al Ma’mourah. To be developed with US $24.5mn in investment by Apex Engineering, the plant will produce industrial parts, components, machinery and equipment for the oil and gas, locomotive and defence industries.
Spanning over 40,000sqm, the facility will use advanced engineering for the design and development of systems to serve the aforementioned sectors. All operations at the plant will take place in alignment with environment protection commitments and will uphold the sustainable business practices in KEZAD.
The construction of the proposed plant is set to further propel manufacturing for industries with large-scale undertakings and positions KEZAD as the prime hub for industrial development. The agreement emphasises AD Ports Group’s strategy to attract manufacturing companies from around the world and across the board to drive economic growth.
Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones Abu Dhabi – KEZAD Group said, “The setting up of the new plant will be a welcome addition to our ecosystem of diverse industrial manufacturing companies driving sustained economic growth. We look forward to the project’s contribution to UAE’s strategic vision of diversifying its economy and becoming the global hub for innovation.”
Nooruddin F. Daud, Partner, Apex Engineering Industries added, “Apex Engineering Industries LLC are pleased to set up our state-of-the-art engineering R&D and manufacturing facilities in Abu Dhabi. We aim to provide services to the oil & gas, locomotives, automotive, defence and engineering sectors in the UAE. We look forward in contributing to the engineering & manufacturing eco-system of the UAE in general and Abu Dhabi in particular.”
He continued, “We already have our plant and equipment installed for a unique material treatment process that enhances the lifecycle of metal wear parts like cutting tools, brake discs, gears etc. thereby providing economic benefits to our customers. The industry enabling regulations, and the business-friendly environment provided by the Abu Dhabi Department of Economic Development coupled with world class facilities provided by KEZAD make it a very attractive option to set up our facilities here in KEZAD.”
While oil and natural gas contribute significantly to meeting the world’s energy demands, locomotives are the steering gear behind the transportation sector’s efforts to tackle climate change with higher efficiency and reduced carbon footprint. The new establishment at KEZAD will meet the demands of these industries and enable them with more productivity and performance, the statement concluded.
