Kizad and Citi deal to attract foreign investment
In a move aimed at bringing in foreign direct investment as envisaged under Abu Dhabi Economic Vision 2030, Khalifa Industrial Zone Abu Dhabi (Kizad) and Citibank, have signed a global partnership agreement to offer financing and banking solutions to Kizad tenants.
In addition to identifying potential tenants and establish them in the industrial Zone, the agreement will focus on developing joint marketing opportunities in selected overseas countries supported by Citibank's global network.
Khaled Salmeen, executive vice president of Industrial Zones at Abu Dhabi Ports Company (ADPC), said: "The partnership with a global financial partner of the calibre of Citi is a strategic move that enhances Kizad's attractiveness in our target markets through the use of their global network and expertise. Kizad presents an exciting opportunity for businesses worldwide and this was expressed recently during our international road shows to the Indian, Korean, and Chinese markets."
Kizad, which was launched in November last year by Abu Dhabi Ports Company (ADPC), covers 417 sq. kms and is located at Taweelah, half way between Abu Dhabi and Dubai.
Clusters at Kizad include; aluminium, steel, engineered metal products, petrochemicals, pharmaceuticals, paper, print and packaging, food, trade and logistics.