Khalifa Fund for Enterprise Development is ready to invest in 10 projects worth Dh52.5 million ($14.3 million), said the fund's chairman at the Industrial Investment Forum held in Abu Dhabi recently.

The fund had proposed 50 ideas for industrial projects to the local entrepreneurs in Abu Dhabi of total investment value amounting to about Dh236 million, he stated.

Hussain Jasim Al Nowais, said in the forum opening ceremony held Tuesday, that the fund has prepared in-depth studies based on Abu Dhabi Vision 2030 for developing the economic sectors. A number of industrial sectors were determined, which will provide promising investment opportunities, most prominent of which are the metal and plastic industrial sectors.

“The fund has carried in-depth investment feasibility study for ten of these ideas, and that we are fully ready to initiate the finance and non-finance support procedures for any of the local entrepreneurs who have been selected for implementing these projects.”
 
He confirmed that the completion of the infrastructure and logistic elements, and the availability of power resources and capital in Abu Dhabi, has prompted us to launch the financing Industrial Program (Tasnee) aimed at encouraging investment in the industrial sector in Abu Dhabi.

Last year, the fund had financed 60 projects with total amount of Dh111 million.-TradeArabia News Service