Abu Dhabi Ports has welcomed SIDDCO Group’s latest venture iNGENIUM to Khalifa Port’s industrial zone (Kizad) as its latest investor.
In a previous article by PTI, it was reported that Abu Dhabi had seen a sharp increase in its TEU volumes in Q1, 2015.
The US$35.3 million ‘Musataha Agreement’ was signed by Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, and Mr. Zakee Siddiqi, Chairman and CEO SIDDCO Group.
iNGENIUM, a subsidiary of the SIDDCO Group, will set-up a facility in Kizad, envisaged to generate more than one million man-hours per year, with a fully-automated production-plant utilising cutting-edge Italian technology to manufacture intricate equipment in various formats and metallurgies.
Commenting on the signing ceremony, Giorgio Starace, Italian Ambassador to the UAE congratulated SIDDCO by saying that this Musataha Agreement is “another prominent example of what the ‘strategic partnership’ between Italy and the UAE means: the excellence of Italian machinery coupled with Abu Dhabi Ports’ technologically advanced Khalifa Port and state-of-the-art industrial zone, along with SIDDCO’s superb management to the mutual benefit of Italian and UAE economic and industrial growth.”
Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said: “Continuous growth in the oil and gas sector has led to the demand for companies like iNGENIUM to establish manufacturing facilities in the region.
“The supply chain efficiencies offered by Khalifa Port and its industrial zone, as well as its exceptional infrastructure and transportation network will make a significant difference to iNGENIUM’s business operations.”
Zakee Siddiqi, Chairman and CEO of SIDDCO Group, said: “Through extensive use of automation in the production line and robust investment in our people and in first-class Italian machinery, iNGENIUM will deliver enhanced efficiency and reliable engineering. Our ongoing investments in Italian machinery have proved extremely beneficial in ensuring uniformity in quality and precision.”
Khalifa Port saw its volumes increase during 2014, with container throughput having increased by around 26% year-on-year.