Abu Dhabi Ports has signed a standard Musataha agreement (SMA) with Al Mazroui International Cargo Company (MICCO) to establish a new logistics business centre at Khalifa Industrial Zone Abu Dhabi (Kizad).
It was previously reported by PTI that Abu Dhabi Ports had signed a memorandum of understanding with the Industrial Development Bureau of the Department of Economic Development (IDB) to develop the industrial sector of Abu Dhabi.
The facility will cater to MICCO’s temperature controlled storage facilities, bulk storage through open yards, distribution services, and a service centre for their trucking fleet.
MICCO’s new centre will be built in three phases. The first phase will see MICCO invest more than US$9 million for the first phase, with further investments anticipated based on future developments of phase two and three.
Their new facility is expected to be ready by Q4, 2016 and fully operational by January 2017.
Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said: “This new agreement with MICCO marks our continued efforts in supporting their business. Kizad, Khalifa Ports’ industrial, trade, and logistics hub, is the ideal location for expanding logistics network and assisting MICCO expand its reach and develop business growth opportunities.”
Captain Simreen, Managing Director at MICCO, predicts that through this SMA, MICCO will be able to further contribute to strengthening Abu Dhabi’s export potential and in establishing even stronger logistics provisions to the GCC market.
He said: “The new agreement allows us to better serve our current and prospective clients, in Abu Dhabi and the region as a whole.”
Kizad has recently welcomed SIDDCO Group’s latest venture iNGENIUM as an investor and will set up a facility that aims to provide more than one million man hours per year.
Fact File: Established in 2006, Abu Dhabi Ports’ core objective is to facilitate the diversification of the economy by stimulating trade and development. This is done by delivering high quality maritime services, supporting partners’ infrastructure projects and setting up new companies and joint-ventures in the ports and logistics sectors.
