Jotun, one of the world’s leading paints and coatings manufacturers, has signed a 50-year land lease agreement with Khalifa Economic Zones Abu Dhabi for the establishment of its new manufacturing facility within ICAD - Kezad Musaffah in the UAE capital.
As per the deal, Jotun Abu Dhabi will invest AED450 million ( ) in the 83,177-sqm facility that will engage in manufacturing, sale and distribution of paints and coating products in the region.
With this investment, Jotun Abu Dhabi is embarking on a major expansion, relocating from their existing 22,000 sq m facility. The investment is set to create approximately 200 jobs in Kezad.
Abdullah Al Hameli, CEO Economic Cities & Free Zones, AD Ports Group, said: "We are pleased to see Jotun Abu Dhabi expand its presence within Kezad’s rapidly evolving industrial landscape. Kezad Group continues to enhance world-class infrastructure that supports the advancement of the regional construction industry. Guided by the vision of our wise leadership and our role as a global manufacturing hub, we remain dedicated to supporting the UAE’s construction sector in the Emirate of Abu Dhabi."
Svein Johan Stub, General Manager of Jotun Abu Dhabi, said: "The expansion marks a major milestone in the manufacturing journey of Jotun Paints in Abu Dhabi and reinforces our commitment to strengthening our presence in the emirate."
"We remain confident that by being part of KEZAD’s industrial ecosystem will enable us to deliver tailored solutions that meet market demands, and support the growth of the region’s construction, real estate and energy industries," he stated.
The region’s paints and coatings industry is undergoing rapid development, driven by strong construction momentum in the UAE, and is poised to attract further investment expanding the scope for its future growth and contribution to the nation’s non-oil economy.
Jotun Abu Dhabi’s expansion in Kezad is a significant step forward in this direction, further accelerating the growth of the sector in this region, he added.-TradeArabia News Service
