ABU DHABI, 16th July 2020 (WAM) – ADQ, one of the region’s largest holding companies with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s non-oil economy, today announced the merger between two of its portfolio companies. Under a decree by Abu Dhabi Executive Council, the Higher Corporation for Specialized Economic Zones (ZonesCorp) joins Abu Dhabi Ports.
As part of Abu Dhabi Ports, ZonesCorp will benefit from strategic alignment with Khalifa Industrial Zone Abu Dhabi (KIZAD), one of the world’s largest industrial zones spanning 410 square kilometers, which is owned and managed by AD Ports. Together, the group’s industrial portfolio is set to facilitate greater industrial diversification and provide infrastructure support in a cost-efficient manner and they will significantly increase the contribution of industrial activities to the emirate’s GDP, helping to achieve greater value for stakeholders including customers, partners, and employees.
Khalifa Sultan Al Suwaidi, Chief Investment Officer at ADQ, commented: “As Abu Dhabi continues to grow as a key player in international trade and logistics, ADQ is further reinforcing this value proposition by merging ZonesCorp into Abu Dhabi Ports. There will now be an even greater opportunity to facilitate industrial diversification and deliver efficient infrastructure support.”
Falah Mohammed Al Ahbabi, Chairman of Abu Dhabi Ports and Chairman of the Higher Corporation for Specialised Economic Zones, said: “This transition of ZonesCorp to Abu Dhabi Ports is beneficial to all parties involved – partners, employees, and, most importantly, our customers. Abu Dhabi Ports is an expert in developing the industrial and manufacturing sector and is constantly innovating to operate and maintain an integrated world-class business environment. By grouping economic zones within Abu Dhabi Ports, there will be better related operational alignment, increased expansion and enhanced positioning to attract substantial direct foreign investment.”
Capt. Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports, said: “By working together more closely, and more strategically, we will leverage our strengths in order to boost the competitive value of our industrial zones within the global marketplace. Our industrial cluster will be well positioned to deliver even greater investment opportunities to our valued customers who will benefit from easy access to regional markets, increased scale and improved services.”
Abu Dhabi Port’s industrial and economic zones offering now has a combined land area of 554 square kilometres and more than 1,400 customers. On its own, ZonesCorp’s economic zones currently have over 900 manufacturing and commercial facilities that are home to some of the world’s leading industrial players in a variety of sectors, and have attracted investments of around AED 70 billion. With KIZAD’s investments at over AED 73 billion, the total investments attracted by Abu Dhabi Ports’ subsidiaries currently stand at AED 143 billion.