Khalifa Industrial Zone Abu Dhabi (Kizad) signed a Musataha agreement with Al Braik Investments, who will establish a silicon metal smelter at the premises, it was announced this week.
The Musataha agreement is a long-term right agreement that gives companies the right to register at the Abu Dhabi Land Registry Department in the name of the investor.
It now paves the way to establish the US$173 million smelter facility on a 316,413 square metre plot of land at Kizad.
Khaled Salmeen, executive vice president of Industrial Zones at Abu Dhabi Ports Company, said: “We are very proud to welcome Al Braik Investments to Kizad and believe that they will create opportunities for a significant number of value added industries through its silicon metal production, which results in the production of high grade aluminium alloys.
“We are also confident that Al Braik’s business will benefit significantly from the industrial zone’s outstanding access to global markets through its proximity to Khalifa port, which will allow it to reach its markets with ease and efficiency.
While Shukri Al Braik, chairman of Al Braik Investments, added: “Al Braik Investments is proud to be part of Kizad with its transportation network that will provide our business with unparalleled connectivity to all our clients in the UAE and the region, giving us a competitive advantage that will enhance our production.
“Through our operations in Kizad we are looking to become a steady supplier of key strategic value added materials for the aluminium industry and increase local [Emirati] direct employment opportunities. All of which reaffirms our commitment to further strengthen Abu Dhabi’s vision of diversifying its economy through investing in manufacturing.”
Al Braik are planning to begin construction in 2013 and hope to be operational by 2015.