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ZONES-
Pipetec putting AED 100 mn into Kezad plant: UAE-based Pipetec Solutions Manufacturing has inked a 50-year land lease agreement for the development of a pipe bending plant in AD Ports Group’s Khalifa Economic Zone Abu Dhabi (Kezad) Area A in Al Mamourah, according to a statement released on Thursday.
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Details: Pipetec is investing AED 100 mn into establishing the manufacturing plant, which will cover some 18k sqm in Kezad. The facility will utilize advanced induction-bending technology to provide precision engineered pipe bending solutions for a range of sectors, including oil, gas, automotive, aerospace, shipbuilding, construction, and petrochemicals. The timeline for the project has not been disclosed.
REMEMBER- Industrial and logistics demand in Dubai rose 185% y-o-y in 1H 2024, logging almost 18 mn sqft of new requirements for industrial and logistics assets in the emirates. A shortage of new warehouses in Dubai has sent demand spilling over to Abu Dhabi, with Kezad Group — representing 55% of UAE’s industrial supply — recording 88% occupancy in 1Q 2024. The zone also witnessed longer lease commitments, with the average lease length increasing to almost six years from four years in 2022.
TRADE-
Dubai Chambers + CANACO support Mexican investors: Dubai Chambers has signed an MoU with the National Chamber of Commerce, Services, and Tourism (CANACO) in Mexico City and El Gran Bajío, a business promotion agency in Mexico, to support the growth of Mexican investors in Dubai, Wam reports. The MoU also aims to help Dubai-based companies enter the Mexican market. The agreement also promotes bilateral trade and investments between Dubai and the Bajío region of Mexico.
LOGISTICS HANDLING-
Saudi Post and the Export Development Authority will provide logistical solutions to non-oil exporters, including air and land freight services, under an MoU they signed, state news agency SPA reports. The two parties will organize workshops to inform exporters about the services they will offer.
AVIATION-
Gulf Air + Joramco partner up on bolstering MRO services: Bahrain’s flagship carrier Gulf Air has inked an MoU with Dubai Aerospace Enterprise’s aircraft MRO and engineering arm Jordan Aircraft Maintenance Limited (Joramco) to expand their joint MRO services, according to a press release. The agreement aims to explore the development of Gulf Air MRO services in Bahrain, including hangar facilities.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Mawani adds new KSA-UAE-Kuwait service: The Saudi Ports Authority (Mawani) has launched a new shipping service, dubbed EJBS, operated by maritime solutions provider Emirates Shipping Line. The new service, with a capacity of 1.8k standard containers, links Saudi Arabia’s Jubail Commercial Port to the UAE’s Jebel Ali Port and Kuwait’s Shuwaikh Port. (Statement)
- Zayed International Airport gets new US preclearance facility: The UAE’s Abu Dhabi Airports has launched a new US Customs and Border Protection preclearance facility at Zayed International Airport in partnership with the US CBP, Etihad Airways, and Etihad Airport Services. (Statement)
- Over 25 Qatari companies to join trade mission to the UAE: Qatar Development Bank is organizing a trade mission to the UAE with the participation of over 25 companies from different sectors. The mission aims to explore potential in the UAE market and develop new partnerships between the Qatari and UAE companies. (Statement)
