Dubai PR Network, Online Press Release from Dubai and Middle East
 
Business and Economy
Filter PR by
  
KEZAD Group signs lease agreement with NMDC Energy for AED 367m manufacturing facility in Abu Dhabi

224,000 sqm facility in KEZAD will enhance the emirate's standing in the marine engineering industry

Abu Dhabi, UAE – 03 June 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and NMDC Energy, a subsidiary of National Marine Dredging Company (NMDC), today signed an agreement for the establishment of a new manufacturing facility in KEZAD.

The 50-year lease agreement signed at the Make It In The Emirates Forum 2024, will see NMDC Energy invest AED 367 million ($100 million) in a 224,000 sqm facility in KEZAD, designated for modular fabrication.

The project will offer several strategic benefits to the regional oil and gas sector including world-class engineering, procurement, project management, fabrication, installation and commissioning services to project owners and operators. The facility will create an estimated 3,000 new jobs in the process.

Mohamed Al Khadar Al Ahmed, CEO Khalifa Economic Zones Abu Dhabi – KEZAD Group said: 'NMDC Energy is a distinguished name in the marine engineering and fabrication industry, and we welcome its new facility to our industrial ecosystem. As the UAE's premier industrial and economic zones, KEZAD Group is continuously working to advance the country's energy, logistics, and marine engineering services.

'In keeping with the vision of our wise leadership, KEZAD Group is always striving to bolster the UAE's marine sector by supporting the expansion of national assets like NMDC in the emirate of Abu Dhabi.'

Ahmed Al Dhaheri, CEO of NMDC Energy, said, 'This partnership marks a significant milestone for NMDC Energy as we deepen our commitment to the UAE's industrial growth and sector innovation. The establishment of this new modular fabrication facility at KEZAD represents not just a significant investment; it mirrors our commitment to supporting the UAE's vision of becoming a global industrial powerhouse. We are eager to introduce new capabilities to our company, incorporating advanced technologies and processes that are shaping the future of the oil and gas industry. These advancements will not only elevate our service offerings but also significantly contribute to the nation's economic diversification.'

NMDC Energy operates advanced fabrication facilities in Abu Dhabi with a capacity to produce up to 100,000 tonnes of structural steel annually across an area of 1.3 million square meters. Additionally, NMDC is expanding its capabilities with a new 450,000 square meter fabrication yard in Ras Al Khair port, Saudi Arabia, which will have a projected capacity of 60,000 tonnes per year by 2026. The company owns a fleet of 22 offshore vessels equipped with modern facilities to support its shallow and deep-water operations. It can lift structures weighing up to 4,200 tonnes and is also equipped for laying subsea cables and pipelines, up to 66 inches in diameter in water depths from 10 to 2,000 metres.

Make It In The Emirates Forum, organised by the UAE Ministry of Industry and Advanced Technology (MoIAT) offers a valuable networking and knowledge exchange platform for the industrial community, both locally and internationally. The event brings together decision-makers, government and private sector officials, experts, entrepreneurs, financing entities, investors, startups, and SMEs – with the primary goal of showcasing investment opportunities within the local industrial sector.


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 42242 times
PR Category : Business and Economy
Posted on : Saturday, November 30, 2024  12:00:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : NWTN Joins UAE Business Delegation to China
Next Story : ENEC and CNNC sign MoU for cooperation and best practice in ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
 
 
Most Viewed Press Release posted in the last 7 days
Layla Al Hajjaj: Saudi Trailblazer in Entrepreneurship and Beauty Innovation [63382-Views]
Benefit Cosmetics unveils its new mascara innovation: BADgal Bounce Mascara! [63160-Views]
Introducing the pinnacle of craftsmanship and innovation: MRG-B2000JS and MTG-B2000YST [61967-Views]
Global Air Cargo Demand Achieves Record Growth in 2024 [50373-Views]
Saudi Arabia Leads Global Movement in Healthspan Science: Over 2,000 Experts to Convene fo... [47790-Views]
Global Air Passenger Demand Reaches Record High in 2024 [45334-Views]
Luxury vegan silk loungewear brand, niLuu, expands in the Middle East with a second outlet... [44251-Views]
Jameel Motors to Distribute Geely Farizon New Energy Vehicles in the UAE [21353-Views]
SHEGLAM's New 24K Gold Mascara Bottles Glam and Care into One Swipe [21156-Views]
Emirates Park Zoo & Resort eliminates 51,000 Kg of carbon emissions through Sparklo's inno... [18409-Views]
IATA Releases Updated 2025 Manuals Reflecting Latest Industry Standards [18114-Views]
The "UAE - Kuwait Week" will officially begin next Monday in Dubai [17610-Views]
ADCB aims to double net profit to AED 20bn within five years through a new strategy in lin... [14912-Views]
Bollywood Stars to Blaze the Track at Dubai Autodrome for ‘DSBK Middle East Championship' [13079-Views]
7th International Rain Enhancement Forum Wraps Up Successful Seventh Edition [11484-Views]
Formula e presents ‘evo sessions': the ultimate motorsport experience for 11 of the world... [10910-Views]
Falcon Group's precision engineering powers UAE's most advanced satellite, MBZ-SAT [10250-Views]
AQMC and Leading Hospitality Services (LHS) Sign Landmark Strategic Agreement [10152-Views]
Day Two of 7th IREF Highlights Innovations in Autonomous Aerial Systems, Cloud Seeding Mat... [9947-Views]
EDGE to Collaborate with Hungarian Ministry of Defence on Innovation Programmes [9947-Views]
IDEX and NAVDEX 2025 to showcase innovations across 17 advanced defence and security produ... [9319-Views]
Celebrate Chinese New Year at Reem Mall with Free Activities & Exclusive Offers [9024-Views]
Malabar Gold & Diamonds Launches ‘Heart to Heart' Jewellery Collection to Celebrate the Se... [8909-Views]
Fueled by global success OMODA & JAECOO set to accelerate into UAE Market with immersive... [8688-Views]
1964 ferrari 250 lm wins prestigious the peninsula classics best of the best award [8032-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Back to Section Home

Related Stories

 
Top Sections
 
Top Stories