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Officials at the signing ceremony.

FourWinds unit to set up major steel foundry in Abu Dhabi

ABU DHABI, March 30, 2015

Abu Dhabi Ports has signed a Musataha agreement with Advanced Manufacturing Solutions (AMS), a subsidiary of the FourWinds Group of Companies, to build a state-of-the-art steel foundry at the Khalifa Port’s Industrial Zone (Kizad).

The foundry will produce automotive parts such as steep brake disks and brake calipers for the global automotive industry.
 
The new foundry will be developed in three phases and ultimately will have a capacity of 300,000  tonnes per annum, making it amongst the largest single-source foundries in the world producing automotive parts.

The steel foundry products will cater for both local and international markets, exporting via Khalifa Port, for end use by the world’s largest, high-end vehicle manufacturers such as BMW, VW, and Mercedes-Benz as well as world leading automotive parts companies, said a statement.

One such company, Continental Teves AG, has entered into an agreement to buy the full output of AMS’s first production line to support Continental’s demand from its European markets and its long-term strategy for the region.  

Phase 1 of the foundry, estimated to cost $140 million, will have an installed capacity of 75,000  tonnes per year, and will produce grey iron for brake discs and ductile iron for brake calipers.  

Phase 2 of the project will increase the capacity up to 145,000 tonnes per year and Phase 3 will take the capacity to 300,000 tonnes per year.

Covering 233,000 sq m, the foundry will employ a highly automated process and will be one of the most technologically advanced foundries in the word. Managed and operated by a highly qualified and trained team of experts, the foundry will align its production to the highest quality levels and will meet top international environmental standards.

Vivek Rao, the CEO of FourWinds Capital Management, said: "FourWinds Group of Companies, and its parent company, Tharwa Investments, highly appreciate the support and dedication of the UAE government and its leadership in paving the way for a successful investment experience in Abu Dhabi. We are also very proud of our local partnership with M O D Royal Projects Management on this project."
 
Rao added that the company’s strategic choice of Abu Dhabi and Kizad as the target location of the foundry, fell within the group’s quest to achieve the highest standards at all levels. "For us, Kizad represents the perfect location that offers superior quality services and infrastructure that would enable the foundry to be at its level-best in performance, as well as to reach our global customers with ease via Khalifa Port," he said.

Captain Mohamed Juma Al Shamisi, CEO, Abu Dhabi Ports, added: “Abu Dhabi Ports is pleased to welcome its first automotive OEM (original equipment manufacturer) to Kizad. The automotive sector in the UAE has been experiencing double digit growth over the past few years, and having a locally based auto parts and accessories foundry, supports this industry and its growth within the Emirates and the region.  In addition, the close proximity to Khalifa Port will enable AMS to reach its international customer network quickly and cost effectively. Abu Dhabi Ports is dedicated in providing the necessary support for the successful development of this important project.” - TradeArabia News Service
 




Tags: abu dhabi | foundry | Kizad |

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