Arab Today, arab today kizad signs lease agreement with talex
Last Updated : GMT 12:22:10
Arab Today, arab today
Arab Today, arab today

Kizad signs lease agreement with Talex

Arab Today, arab today

Arab Today, arab today Kizad signs lease agreement with Talex

Abu Dhabi - Arabstoday

Khalifa Industrial Zone Abu Dhabi (Kizad) has announced the signing of a long-term ground development lease (Musataha) Agreement with Talex, the Taweelah Extrusion Company.Talex will be a great attraction to Kizad’s aluminium cluster, alongside Emirates Aluminium (Emal), who is the core tenant within this cluster. The Dhs735 million investments was signed by Khaled Salmeen, Executive Vice President of Industrial Zones, ADPC and Jamal Salem Al Dhaheri, Chairman of Talex at ADPC office in Abu Dhabi.The signed agreement has secured Talex in excess of 200,000m plot of land in one of the world’s largest industrial zones. Talex is a joint venture partnership between ADBIC, Abu Dhabi Basic Industries Corporation, and Gulf Extrusions and is planning to commence operations in Kizad in the fourth quarter of 2013 to produce high end extrusion products for specific needs of automotive markets.Commenting on the signing, Salmeen said: “We are pleased to announce this long-term agreement with Talex as a mid-stream investor to set up in Kizad’s aluminium cluster. Strategically situated in this cluster, Talex will directly benefit from Emal, providing the Aluminium in molten form via the innovative ‘Hot Metal Road’, allowing it to provide its customers with the highest quality automotive products and the opportunity to be competitive in the market place.”“This is a great example of the kind of diversification Kizad is looking to create which brings us one step closer to achieving the target set within Abu Dhabi’s 2030 Economic Vision,” he added.Jamal Salem Al Dhaheri added: “Taweelah Aluminium Extrusion Company is delighted to be the first aluminium downstream project to be established in Kizad. With the support of Emal and ADPC, this partnership of UAE companies between ADBIC and Gulf Extrusions, will place the UAE at the forefront of the extrusion industry and further contribute to the diversification plan, as set out in the Abu Dhabi Vision 2030. Abu Dhabi’s vision is to diversify the economy by growing industrial and manufacturing sectors and creating self-supporting industrial clusters which lead to economic growth”.The ‘Hot Metal Road’ in its master plan, which enables the transportation of aluminium from aluminium smelters to midstream and downstream manufacturers in molten form, considerably reducing costs and environmental impacts saving enough energy to power 160,000 homes.Anchored by Emal’s Smelter, which is anticipated to be the largest single site smelter in the world, the production of downstream products within the agreement will be through vertical integration, which provides seamless operations from upstream to downstream producers.End products will include transportation and industrial materials, electrical and solar equipment, road furniture, and architectural materials.Majid Al Ghurair, CEO of Al Ghurair Group of Companies and MD of Gulf Extrusions, said: “We hope that with the signing of this Musataha agreement with Abu Dhabi Ports Company, Taweelah Aluminium Extrusion Company will work towards starting construction in the second half of next year. This joint-venture with ADBIC is another step towards positioning ourselves as a leading regional player in the Aluminium Extrusion industry.”“The location of TALEX in KIZAD is very important in terms of being closer to our raw material supplier (EMAL) as well as close to the Khalifa Port. With state-of-the-art equipments, Taweelah Aluminium Extrusion Company will be a world-class company competing with the best extruders in global markets by offering premium quality products. This reaffirms our commitment to further strengthen the region’s reputation as a leading supplier in the extrusion market.”The occasion was further marked with the opening of the new Taweelah Visitor Centre which offers customers and visitors an interactive experience of what the Industrial Zone will provide in terms of facilities and support, how it will operate and the extent to which Kizad will contribute to Abu Dhabi’s economic diversification. The signing of the Musataha agreement with Talex is expected to be followed by further signings in the coming few months, demonstrating Kizad’s commitment to supporting the Emirate’s Vision 2030.ADPC’s core objective is to facilitate the diversification of Abu Dhabi’s economy by acting as an enabler for development and trade. It will achieve this by managing commercial ports throughout the Emirate, supporting partners with their infrastructure projects and setting up new companies and joint ventures with partners.

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Arab Today, arab today kizad signs lease agreement with talex Arab Today, arab today kizad signs lease agreement with talex

 



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