Abu Dhabi industrial zones attract major Indian maritime investment
INDUSTRIAL zones such as KIZAD in Abu Dhabi are now being used by Indian firms as a springboard to expand across the Gulf Cooperation Council as well as to boost export volumes to countries in the Middle East and Africa
INDUSTRIAL zones such as KIZAD in Abu Dhabi are now being used by Indian firms as a springboard to expand across the Gulf Cooperation Council as well as to boost export volumes to countries in the Middle East and Africa.
According to Falah Mohammad Al Ahbabi, member of the Abu Dhabi Executive Council, there has been significant investment from India in Abu Dhabi Ports' subsidiary Khalifa Industrial Zone (KIZAD), Press Trust of India reported.
'Some US$90 million has been attracted in Indian investment at the zone since it opened in 2012. We believe this is a reflection of the powerful combination of Abu Dhabi's strategic location, KIZAD's logistics efficiencies and the connectivity offered by Khalifa port,' Mr Al Ahbabi said.
He said that Prime Minister Narendra Modi's recent visit to the UAE would further strengthen their relationship and increase trade between the two nations, which already stood at US$60 billion annually.
Mr Al Ahbabi, who is also chairman of Abu Dhabi Ports, is of the view that both India and the UAE have extensive maritime pedigrees and a vision for the future that sees the industry at the forefront of global trade through harnessing the latest trends and technologies, from automation to artificial intelligence.
'Indeed, Maqta Gateway, a subsidiary of Abu Dhabi Ports, has been testing international blockchain solution Silsal with MSC Mediterranean Shipping Company to provide a seamless and secure link between stakeholders across the trade community,' he said.
'Meanwhile, in India, the Sagarmala programme aims to harness the full economic potential of India's long coastline, its potentially navigable inland waterways and strategic location on key international maritime trade routes,' he said.
The UAE Government has identified 400 projects entailing an investment of $123 billion over 10 years in port modernisation and new port development, as well as improving port connectivity, logistics and industrialisation.
To help Indian businesses grow internationally, Abu Dhabi Ports is investing heavily in port, industrial and logistics infrastructure.