Abu Dhabi Ports, the master developer, operator and manager of the emirate’s commercial and community ports as well as Khalifa Industrial Zone, and Integral Plastic Industries Co. today signed a Musataha agreement to build a new manufacturing plant in Khalifa Industrial Zone, KIZAD, with an investment of AED10 million.
The two maritime airports of Varna and Burgas are expected to meet 5 million passengers this year. 2 million at Varna Airport and 3 million…141 Views | the publication reaches you by | Bulgarian Business Club
The agreement was signed by KIZAD CEO, Mana Mohammed Saeed Al Mulla, and Khaled Al Saleh, CEO of Integral Plastic Industries Co., a subsidiary of Kuwaiti company, Light Industries Holding Co..
The manufacturing facility will be built on a plot of 21,649 square meters in KIZAD with the aim of producing 15,000 tons per annum of Plastic Bottles Preform (PET), Plastic Bottles Caps (HDPE), and Plastic Packing Strips Rolls (PET). Production is expected to commence in the first quarter of 2018.
Mana Mohammed Saeed Al Mulla said, “We are pleased with the rapid growth we are witnessing at KIZAD as we evolve over time to become the preferred partner for businesses looking to invest in this market.
The development of Integral Plastic Industries’ manufacturing facility in KIZAD will strategically benefit the industry and its customers who will now have access to national plastic products that meet international standards and reduce their dependency on imports, therefore reducing costs of doing business and increasing the efficiency of supply chains.”
The CEO of Integral Plastic Industries, Khaled Al Saleh, said, “Our decision to invest in KIZAD was a result of its attractive business model which features an integrated infrastructure in a prominent location and easy access to regional markets through Khalifa Port.
Being one of the fastest growing industrial zones in the region, KIZAD has met all the requirements of our regional development strategy. It is the perfect base for our operations which enables us to extend our products to new markets within the UAE, the Gulf, and the neighbouring regional markets.”
Trading is highly popular with several people, whether this is on a global scale or a much smaller…100 Views | the publication reaches you by | Bulgarian Business Club
Do you have information you want to reach our readers?