Khalifa Industrial Zone Abu Dhabi (Kizad) has launched a new Polymers Park, which is set to be a base for plastics manufacturing in the region.
Located in Abu Dhabi, the park is expected to produce 300-400 kilotonnes of plastic products a year and create up to 7,000 new jobs, contributing $2.5 billion to GDP by 2025.
The potential export market for the park is estimated at $500 million annually, and it will ensure Abu Dhabi is a hub for developing the latest innovations in sustainability and technology in the industry, including new and advanced and polymer technologies, such as composites and 3D printing.
The strategic collaboration framework between Abu Dhabi National Oil Company (Adnoc) and Kizad Polymers Park aims to accelerate investment and innovation in the region’s plastics industry.
Samir Chaturvedi, Kizad CEO, said: “Abu Dhabi is the ideal location for polymers converters looking to reach both regional and international markets. Tenants at Kizad Polymers Park will benefit from access to raw materials from regional producers and connectivity to global polymers product demand through Kizad’s major transport links, which include Abu Dhabi Ports’ flagship deep-water port, Khalifa Port and international airports.
“The Park will source energy supplies from a variety of sources at some of the region’s lowest utility rates and support initiatives to commercialise the recycling of plastic waste. We look forward to collaborating with Adnoc to create a hub where polymers converters can produce their products faster, cost-effectively, and sustainably.”
Kizad Polymers Park will cater to a variety of different polymers segments, including industrial use, such as packaging, construction, and semi-finished products; end-use customers, such as household goods, agriculture and hygiene products; material science, including compounded and composite materials, and 3D Printing.
Crucial to supporting the circular economy are polymer recycling companies. The park will host a vibrant polymers ecosystem, including diversified polymers space and raw materials, production systems and technical support, polymers distribution and trading, and logistics.
Kizad’s world-class infrastructure includes a diverse range of plot sizes, excellent utility networks and ready-to-move-in light industrial units and warehousing, while the close proximity of Khalifa Port offers incredible connectivity to markets around the world via major shipping lines.
Meanwhile, foreign firms can take advantage of 100 per cent foreign ownership via the free zone with the benefit of full repatriation of profits or benefit from the park’s flexibility and choose a mainland-based license instead.
Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said: “Through this strategic collaboration framework with Adnoc, Kizad is helping Abu Dhabi become a major global hub for polymers conversion, supporting industrial diversification across the UAE in support of Abu Dhabi Economic Vision 2030." - TradeArabia News Service