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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)
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