Khalifa Industrial Zone, HSBC ink marketing deal
Abu Dhabi, March 9, 2011
Khalifa Industrial Zone Abu Dhabi (Kizad) and HSBC have inked a global partnership agreement to identify potential tenants and establish them in the industrial zone.
A project of Abu Dhabi Ports Company (ADPC), Kizad covers 417 sqkm at Taweelah, half way between Abu Dhabi and Dubai, and offers freezone and non-freezone options, said a ADPC statement.
Kizad aims to attract investors to industrial clusters in line with its 2020 vision. These include aluminium, steel, engineered metal products, petrochemicals, pharmaceuticals, paper, print and packaging, food and trade and logistics, it added.
According to Kizad, the agreement will focus on developing joint marketing opportunities in selected overseas countries supported by HSBC’s global network.
The deal, which covers opportunities to offer financing and banking services to Kizad tenants, represents a commitment from HSBC and Kizad to work together to bring in foreign investment in support of the economic diversification and industrialization objectives envisaged under Abu Dhabi Economic Vision 2030, it added.
Khaled Salmeen, executive vice president of Industrial Zones at ADPC and Abdulfattah Sharaf, chief executive of HSBC UAE signed the agreement at ADPC headquarters.
Alan Keir, HSBC group managing director and global head of commercial banking. Tony Douglas, CEO of ADPC, Kizad Business Development staff and HSBC executives were also present.
Salmeen said the involvement of a global financial partner such as HSBC was a strategic move that will enhance its plans for Kizad going forward in chosen markets through use of their network and business expertise.
'Kizad is an exciting opportunity for businesses worldwide who are considering the region as a hub for their activities. We look forward to talking with many prospective investors through this agreement,' he added.
Sharaf spointed out that Kizad was an important development for the UAE’s industrial sector.
'It will play a vital role in underpinning the economic development of the country as we continue to diversify, while retaining our historical positioning as the trade hub of the Gulf,' he added.-TradeArabia News Service