Abu Dhabi Port signs Dhs130 million deal with Italian group
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Abu Dhabi Ports has welcomed SIDDCO Group’s latest venture iNGENIUM to Khalifa Port’s industrial zone, Kizad, as its latest investor.
The Dhs130 million Musataha Agreement was signed by Mohamed Juma Al Shamisi, CEO Abu Dhabi Ports, and Zakee Siddiqi, Chairman and CEO of SIDDCO Group, under the patronage of Giorgio Starace, Italian Ambassador to the UAE, Umberto Bernardo, Deputy Italian Ambassador to the UAE.
iNGENIUM, a subsidiary of SIDDCO Group, will set-up a state-of-the-art facility in Kizad, envisaged to generate more than a million man-hours per annum, with a fully automated production plant utilising cutting-edge Italian technology to manufacture intricate equipment in various formats and metallurgies.
Starace said: “The agreement is indeed another prominent example of what the ‘strategic partnership’ between Italy and the UAE means; the excellence of Italian machinery coupled with Abu Dhabi Ports’ technologically advanced Khalifa Port and state-of-the-art industrial zone, along with SIDDCO’s superb management, to the mutual benefit of Italian and UAE economic and industrial growth.”
The iNGENIUM site is spread over a plot covering 122,000 sq m, with direct access to Kizad’s modular path, a dedicated road for moving over-sized equipment between the investors’ facility and Khalifa Port, in a swift, safe and economical manner.
Al Shamisi added: “Continuous growth in the oil and gas sector has led to the demand for companies like iNGENIUM to establish manufacturing facilities in the region. The new facility will cater to the oil and gas industry’s growth and create business opportunities and jobs in the Emirate, directly supporting the diversification of our nation’s economy.”
iNGENIUM’s built-up area will include a production unit, modular equipment assembly unit, a non destructive test unit, an office block, a training centre, as well as a community centre to continually enhance the quality of human resources.
The Dhs130 million Musataha Agreement was signed by Mohamed Juma Al Shamisi, CEO Abu Dhabi Ports, and Zakee Siddiqi, Chairman and CEO of SIDDCO Group, under the patronage of Giorgio Starace, Italian Ambassador to the UAE, Umberto Bernardo, Deputy Italian Ambassador to the UAE.
iNGENIUM, a subsidiary of SIDDCO Group, will set-up a state-of-the-art facility in Kizad, envisaged to generate more than a million man-hours per annum, with a fully automated production plant utilising cutting-edge Italian technology to manufacture intricate equipment in various formats and metallurgies.
Starace said: “The agreement is indeed another prominent example of what the ‘strategic partnership’ between Italy and the UAE means; the excellence of Italian machinery coupled with Abu Dhabi Ports’ technologically advanced Khalifa Port and state-of-the-art industrial zone, along with SIDDCO’s superb management, to the mutual benefit of Italian and UAE economic and industrial growth.”
The iNGENIUM site is spread over a plot covering 122,000 sq m, with direct access to Kizad’s modular path, a dedicated road for moving over-sized equipment between the investors’ facility and Khalifa Port, in a swift, safe and economical manner.
Al Shamisi added: “Continuous growth in the oil and gas sector has led to the demand for companies like iNGENIUM to establish manufacturing facilities in the region. The new facility will cater to the oil and gas industry’s growth and create business opportunities and jobs in the Emirate, directly supporting the diversification of our nation’s economy.”
iNGENIUM’s built-up area will include a production unit, modular equipment assembly unit, a non destructive test unit, an office block, a training centre, as well as a community centre to continually enhance the quality of human resources.
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