Khalifa Economic Zones Abu Dhabi (KEZAD Group) and NMDC Energy, a subsidiary of National Marine Dredging Company (NMDC), inked on Monday an agreement to establish a new manufacturing facility in KEZAD. The 50-year lease agreement will allow NMDC Energy to invest AED367 million ($100 million) in a 224,000 sqm facility in KEZAD, designated for modular fabrication.
Strategic hub for oil and gas sector
KEZAD Group and NMDC Energy’s project will serve as a strategic hub for the region’s oil and gas sector. Hence, it will offer world-class engineering, procurement, project management, fabrication, installation and commissioning services for project owners and operators. Moreover, the facility will create around 3,000 new jobs.
“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,” stated Mohamed Al Khadar Al Ahmed, CEO of KEZAD Group. Al Ahmed added that KEZAD Group also aims to bolster the UAE’s marine sector by supporting the expansion of national assets like NMDC in Abu Dhabi.
For his part, Ahmed Al Dhaheri, CEO of NMDC Energy, stated, “This partnership marks a significant milestone for NMDC Energy as we deepen our commitment to the UAE’s industrial growth and sector innovation.” He also added that establishing this facility at KEZAD aims to support the UAE’s vision of becoming a global industrial powerhouse.
Read: Etihad Credit Insurance’s ‘Xport Xponential’ initiative to boost UAE exports
NMDC Energy
NMDC Energy operates advanced fabrication facilities in Abu Dhabi, producing up to 100,000 tonnes of structural steel annually across an area of 1.3 million square meters. Moreover, NMDC is expanding its operations with a new 450,000-square-metre fabrication yard in Ras Al Khair Port, Saudi Arabia. This project will have a capacity of 60,000 tonnes per year by 2026. In addition, the company owns a fleet of 22 offshore vessels with modern facilities to support its shallow and deep-water operations.
For more industry news, click here.
