Kezad Abu Dhabi Signs $272m Lease Agreement for Factory Expansion

mohmed 3 months ago

Khalifa Economic Zones Abu Dhabi (Kezad Group), the largest operator of integrated economic zones in the UAE, has entered into a lease agreement with Global Fluorine Chemical to commence the construction of phase two of its factory.

Kezad Group Signs Lease Agreement with Global Fluorine Chemical for Factory Expansion

This expansion, valued at Dh1 billion ($272.5 million), will triple the company's production capacity and will be developed on a 120,000 square meter plot of land adjacent to its existing 100,000 square meter facility in Kezad Mussafah. The project aims to further diversify Global Fluorine's portfolio by introducing four additional specialty chemical products to cater to clients within the UAE and beyond.

UAE Vision Supported as Kezad Abu Dhabi Signs $272m Lease Agreement for Circular Economy and Global Expansion of Refrigerant Manufacturer

This lease agreement aligns with the UAE's vision to foster a circular economy by enabling Global Fluorine to locally procure raw materials for its premium refrigerants. The strategically located factories will also leverage the services offered by AD Ports Group and Kezad Group to expand their customer base internationally. The expansion of a leading refrigerant manufacturer within Kezad Group is a testament to the UAE's commitment to developing integrated business ecosystems while ensuring environmental responsibility, as highlighted by Abdullah al Hameli, CEO of Economic Cities and Free Zones at AD Ports Group.

Ministry of Industry and Advanced Technology Supports Agreement for Supply Chain Localization and Sustainable Industrial Growth in UAE

The signing of the agreement, witnessed by Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and President-designate of Cop28, and Mohamed Al Shamisi, CEO of AD Ports Group, underscores the Ministry's efforts to strengthen supply chain localization and resilience in line with Operation 300bn. Furthermore, it showcases practical measures being implemented to support the industrial sector's contribution to GDP and promote sustainable industrial growth, aligning with the objectives of Cop28 and the UAE's Net Zero by 2050 strategic initiative.

UAE's Operation 300bn Strategy Drives Industrial Sector Expansion and SME Growth, Facilitating Value Chain Control for Global Fluorine

The expansion of the industrial sector is a key focus of the UAE's Operation 300bn strategy, aiming to more than double its contribution to economic output from Dh133 billion in 2021 to Dh300 billion ($81.68 billion) by 2031. Additionally, the strategy aims to support the growth of 13,500 small and medium enterprises in the next decade. Global Fluorine's CEO, Haojjin Shi, expressed enthusiasm for the opportunities provided by Kezad Group, emphasizing the company's ability to gain control over its value chain and leverage Kezad's versatile platform for advanced manufacturing capabilities.

Kezad Group Boosts Abu Dhabi's Industrial Hub Status with Expanding Free Zones and Growing Investor Interest

Launched in September, Kezad Group consolidates and expands the Economic Cities and Free Zones offering of AD Ports to enhance Abu Dhabi's position as an industrial and manufacturing hub. Global Fluorine, established in 2020, joins a growing list of companies choosing to establish or expand production facilities within Kezad Group-operated free zones. The recent lease agreement follows Kezad Group's earlier agreement with Al Ghurair Foods to establish food processing projects and a preliminary agreement with Dana Steel for a new steel plant, reflecting the group's commitment to driving economic growth and diversification in the UAE.