Kizad and NBAD to work closely on attracting investment to the industrial zone
With Kizad targeted to account for up to 15% of the non-oil and gas GDP of Abu Dhabi by 2030, under the 2030 Vision, the industrial zone is a key part of Abu Dhabi’s drive to diversify its economy with knowledge-based and capital intensive industries.
“NBAD is a natural strategic partner to Kizad; where Kizad will benefit from NBAD’s local prestigious position, and its international network spanning 13 countries. The bank’s expertise and financing will allow Kizad to showcase its unique value proposition of outstanding access to global markets, a low operating cost environment and ease of doing business due to its one stop shop service,” said Khaled Salmeen , Executive Vice President of Industrial Zones at ADPC.
NBAD, has a growing international network, and Its global reach stretches from the Far East to GCC and Middle East, Africa, Europe and America. The Bank will utilize its global position to facilitate Kizad’s ambitious growth plans of attracting new tenants.
“The Bank is an integral part of Abu Dhabi and, like Kizad, is fully committed in supporting the Vision 2030 plan, which positions Abu Dhabi to be home to manufacturing industries with a world class service sector, entertainment and culture.”, Mr. Yassin added.
NBAD is a major financier of infrastructure developments in Abu Dhabi and offers a wide range of products and services through its business units such as Abu Dhabi National Leasing, and Abu Dhabi National Properties. The Bank has branches and offices in Hong Kong, Oman, Bahrain, Kuwait, Jordan, Egypt, Sudan, Switzerland, France, United Kingdom and the United States and is currently pursuing expansion in selective countries.
Kizad, which was launched in November last year by ADPC, covers 417 square kilometers and is located at Taweelah, half way between Abu Dhabi and Dubai. It offers free zone and non-free zone options to potential tenants and aims to attract investors to industrial clusters defined in line with the Abu Dhabi 2030 vision. The clusters include aluminum, steel, engineered metal products, petrochemicals, pharmaceuticals, paper, print and packaging, food and trade and logistics.