Port & Freezone
Free Trade Zone( KPFTZ). Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, Peng Xiangfeng, President of China Jiangsu International E. T. C. G and Luo Hua, General Manager of Jiangsu Province Overseas Cooperation and Investment Company Ltd. were the signatories of the lease agreement.
Under the terms of the agreement, China-UAE Industrial Capacity Cooperation( Jiangsu) Construction Management Co., Ltd., a UAE company newly established by JOCIC, will occupy and develop approximately 23.7 million square feet of the free trade zone for companies from the Chinese province of Jiangsu. This represents 2.2 % of the available free zone space in KIZAD’ s newly allotted KPFTZ area.
In addition to the signing ceremony, representatives from five Chinese tenant companies announced their plans to invest in the lease space, including Hanergy Thin Film Power Group, Jiangsu Fantai Mining Development( Group) Co. Ltd., Xuzhou Jianghe Wood Co. Ltd., Jiangsu Jinzi Environmental Technology Co. Ltd., and Guangzheng Group. The five companies signed with JOCIC as the frontrunners in taking advantage of the agreement’ s highly competitive trade benefits. Combined, the new tenants will inject over a billion dirhams into KPFTZ, creating over 1,400 jobs, broadening the financial and physical scope of the zone while bolstering its ties to the“ Belt and Road” initiative.
Commenting on the signings, H. E. Dr. Sultan Ahmed Al Jaber said:“ We have worked hard to make KIZAD not only the largest free zone in the region, but also one of the most sophisticated and highpotential free zone areas in the world, particularly for the industrial and manufacturing sectors. Today’ s announcement reaffirms the longstanding partnership between our two countries, and signals to the world that Abu Dhabi and the UAE are vital to the future of global trade.”
H. E. Dr. Sultan reaffirmed that today’ s historic signing agreement between the government of Abu Dhabi and the Chinese Province of Jiangsu marks a new step in partnership – to strengthen the close ties between the UAE and the People’ s Republic of China.
“ The Musataha agreement between Abu Dhabi Ports and JOCIC will attract foreign investment into Abu Dhabi – an ideal environment for investment opportunities due to the competitive advantages KPFTZ enjoys, including its strategic location, worldclass infrastructure and logistics solutions.
24 August 2017