, Online Press Release from Abu Dhabi and Al Ain
Business, Banking and Investments(Banking & Investments)
Filter PR by
KEZAD Group Welcomes AED 20 million Excel Astra Fabrication Facility in KEZAD
KEZAD Group Welcomes AED 20 million Excel Astra Fabrication Facility in KEZAD

The Facility will Contribute to Abu Dhabi’s Non-Oil Exports, Create 400 Jobs

Abu Dhabi, UAE – 29 December 2023: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Excel ASTRA Engineering & Construction, a leading construction contractor providing integrated solutions for Energy sector projects, have signed a 50-year lease agreement to set up a fabrication facility in KEZAD.

Excel Astra to invest approximately AED 20 million to build the facility on approximately 45,000 square metres of land in KEZAD Al Ma’mourah. The facility will leverage on the collective expertise of KEZAD and ASTRA to accelerate growth in the industry sector while creating jobs and providing products and services to the country’s energy sector.

The company sees the creation of around 400 new jobs, and a sales potential of over AED 200 million a year. The company’s “Made in the UAE” products are set to enhance the export potential of the emirate.

Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones Abu Dhabi -KEZAD Group said: “KEZAD Group welcomes companies like Excel Astra, that help enhance the vision of our wise leadership to stimulate the growth of our nation’s industrial sector and position the emirate as a global trade hub.

“KEZAD always strives to provide an ideal infrastructure to a diverse range of industries, including metal, petrochemicals, oil and gas, food, logistics, and construction materials, with all the benefits of setting up business in Abu Dhabi.”

Harish Muhammed Bashir, Managing Director, Excel Astra Engineering and Construction Group said: “The signing of the comprehensive agreement shows the shared vision and commitment of both organisations towards fostering growth and development, which will add to the ‘Make it in the Emirates’ initiative.”

The facility is likely to source AED 80 million worth of goods and services from the local market annually, thereby strengthening the local economy.

The strategic position of the fabrication yard will help Excel Astra compete globally in the manufacturing sector. Its partnership with global companies will also help in bringing expertise and will contribute to the fabrication of value-added products, thus supporting the industrialisation of the entire MENA region.

Posted by : Abu Dhabi and Al Ain PR Network Editorial Team
Viewed 1193 times
PR Category : Banking & Investments
Posted on : Friday, December 29, 2023  3:01:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Abu Dhabi Securities Exchange (ADX) Welcomes Secondary Dolla...
Next Story : UAE and Congo-Brazzaville Finalize Terms of a Comprehensive ...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Preventing Famine and Deadly Disease Outbreaks in Gaza Requires Faster, Safer Aid access and more Su... [19823-Views]
TAQA, Vision Invest and GIC Consortium Wins Juranah Independent Strategic Water Reservoir Project in... [18320-Views]
The Dyson AirstraitTM Straightener Soon to Arrive in the UAE and KSA! [11545-Views]
EASA Partners with IATA to Counter Aviation Safety threat from GNSS Spoofing and Jamming [11426-Views]
Winners Revealed for “TRT World Citizen Awards” [11377-Views]
Air Cargo Demand Surges 10.8% in December, Closing 2023 Near 2022 Levels [11259-Views]
Tata Soulfull Launches in UAE and Kuwait [10849-Views]
The Dyson AirstraitTM straightener now available in the UAE! [10023-Views]
Saudi Star Yara Alhogbani Confirmed for Mubadala Abu Dhabi Open [9422-Views]
Oman's Smart Vision Summit Gains Momentum with as Global Sponsor [9190-Views]
Catrice celebrates Valentine's Day with a timeless twist: Recreate the Old Money Look using our ex... [8718-Views]
International Pro Wrestling Championship 2024 to witness Indian and Pak wrestling heroes facing off [7952-Views]
MBZUAI contributes to World-leading GenAI, Open-source Initiatives, and a Pipeline of Talented Pract... [7069-Views]
Milrem Robotics Showcases Their Most Advanced Robotic Vehicles at the World Defense Show in Riyadh [6810-Views]
MKB Bespoke Audio unveils the Middle East's first-of-its kind Experience Centre for premium audio-vi... [5795-Views]
Tabreed Achieves Significant Energy Savings with Variable Frequency Drives in Extensive Retrofit Pro... [5342-Views]
SEHA Hosts 4th Abu Dhabi Integrated Mental Health Conference with International Experts [5208-Views]
Xiaomi Introduces All-new Redmi Note 13 Line-up [5180-Views]
Response Plus Medical provides comprehensive Medical Coverage for MOTN Festival in Abu Dhabi [5078-Views]
ADU's College of Engineering Hosts the First RoboCar Maze Competition in its Al Ain Campus [5066-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories