KEZAD Group, NMDC Energy sign lease agreement for AED367 million manufacturing facility in Abu Dhabi

Khalifa Economic Zones Abu Dhabi - KEZAD Group 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.


ANI | Updated: 03-06-2024 14:19 IST | Created: 03-06-2024 14:19 IST
KEZAD Group, NMDC Energy sign lease agreement for AED367 million manufacturing facility in Abu Dhabi
Representative Image. (Photo: Reuters) . Image Credit: ANI
  • Country:
  • United Arab Emirates

Dubai [UAE], June 3 (ANI/WAM): Khalifa Economic Zones Abu Dhabi - KEZAD Group 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 will see NMDC Energy invest AED367 million (USD 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 for project owners and operators. The facility will also create an estimated 3,000 new jobs. Mohamed Al Khadar Al Ahmed, CEO of Khalifa Economic Zones Abu Dhabi - KEZAD Group, said, "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." He added that establishing this new modular fabrication facility at KEZAD represents a significant investment to support the UAE's vision of becoming a global industrial powerhouse.

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 metres. Additionally, NMDC is expanding its capabilities with a new 450,000-square-metre 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 with modern facilities to support its shallow and deep-water operations. These vessels can lift structures weighing up to 4,200 tonnes and are also equipped to lay subsea cables and pipelines up to 66 inches in diameter in water depths from 10 to 2,000 metres. (ANI/WAM)

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