Chinese companies pour US$1.7b in Khalifa industrial zone
THE China-UAE Industrial Capacity Cooperation Demonstration Zone Project located in the Khalifa Industrial Zone Abu Dhabi (KIZAD) has attracted 20 Chinese companies with investments totalling Dh6
THE China-UAE Industrial Capacity Cooperation Demonstration Zone Project located in the Khalifa Industrial Zone Abu Dhabi (KIZAD) has attracted 20 Chinese companies with investments totalling Dh6.2 billion (US$1.687 billion) since it was officially launched in 2018 with backing from Jiangsu Provincial Overseas Cooperation and Investment Company (JOCIC).
JOCIC is tasked with attracting Chinese companies to establish a business in the Khalifa industrial zone. The company is developing a 2.2 square kilometre manufacturing area with a potential to expand its footprint to 12.2 sq km given that it has signed a 50-year cooperation agreement with Abu Dhabi Ports.
Chinese tyre manufacturer Roadbot has laid the foundation stone for a new tyre manufacturing facility within the China-UAE Industrial Capacity Cooperation Demonstration Zone in KIZAD. The Dh2.2 billion facility is expected to commence operations in October 2020, reported Gulf News, Dubai.
Abu Dhabi Ports and Cosco Shipping Ports Ltd opened CSP Abu Dhabi Port Container Terminal (Cosco) in 2018, in order to turn Abu Dhabi into a regional hub for Cosco's global network of 36 ports and further integrate the emirate with the major trade hubs along the Belt and Road Initiative (BRI).
The semi-automated container terminal includes the largest container freight station (CFS) in the Middle East, covering 275,000 square metres. The terminal offers facilities for full and partial bonded container shipments, container packing services, short-term warehousing for de-consolidated cargo as well as easy connectivity with container terminals in Khalifa port.
Cosco Shipping Ports has so far invested Dh1.1 billion in capital expenditure on construction and machinery at the terminal. The CSP Abu Dhabi Terminal has a design capacity of 2.5 million TEU and will begin with a handling capacity of 1.5 million TEU, with 1,200 metres of quay. With a water depth of 16.5 metres, the terminal can accommodate mega-ships carrying in excess of 20,000 TEU.
Abu Dhabi Ports has earmarked Dh10 billion in investment that will increase capacity at Khalifa port from the current five million TEU to 9.1 million TEU.