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Abu Dhabi: The Abu Dhabi Economic Vision 2030 is a clear and comprehensive document detailing what the future of the capital city should look like. And one point that stands out is the stress on the sustainable diversification of Abu Dhabi’s economy away from oil. Towards that end, the government has been making steady progress to attract investors and put the city firmly on the industrial map of the UAE.
Leading the change train is the government-owned Mubadala Industry which focuses on the resource markets. Its interests include power plants, aluminum companies, and water projects.
Khalifa Industrial Zone Abu Dhabi (Kizad), an industrial free zone located in Al Taweela within the emirate, is a world-class infrastructural facility that caters to the food, aluminum, steel, print, paper, packaging, pharmaceuticals, healthcare, petrochemicals and chemicals, and trade and logistics industries. It has top-of-the-line transport links through rail, air, road, and sea. The manufacturing sector received a boost last year when Mubadala, which owns half of Emirates Aluminum, bought a significant stake in Dubai Aluminum Company resulting in the formation of Emirates Global Aluminum, the fifth largest company operating in that sector in the world.
West Coast Company, a UAE-based cleaning and waste management products manufacturer, also invested more than Dh50 million in its new manufacturing facility in Kizad. Senaat, an industrial investment and holdings company in the capital with investments in companies like Emirates Steel, National Petroleum Construction Company (NPCC) and Ducab, last year formed a company with Ducab named Ducab Aluminum at Kizad to create aluminum rods.
In another significant development, airline industry bigwigs Boeing and Etihad Airways, Takreer, Total and Masdar are jointly working towards creating an airline biofuel supply chain based on the principles of sustainability in Abu Dhabi.
• Abu Dhabi Government is on a mission to diversify its economy
• Developments in industrial and financial sectors increased GDP
• Kizad has attracted big names from manufacturing industries
Source: Bushra Hamed-Sharif, Special to Properties
The writer is a freelancer