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ZONES-
Apex Engineering to build industrial plant in UAE: UAE-based Apex Engineering Industries has signed a 50-year land lease agreement with Khalifa Economic Zones Abu Dhabi (Kezad) to set up an AED 90 mn R&D and manufacturing plant in Kezad’s Area A in Al Ma’mourah, according to a statement. Neither the facility’s production capacity nor the timeline for launch have been disclosed.
What we know: The manufacturing hub — which will cover 40k sqm — will produce industrial parts, components, machinery, and equipment for the oil and gas, locomotive, and defense industries. The plant aims to bolster manufacturing for industries with large-scale projects and position Kezad as a hub for industrial development.
ROADS-
Salik’s two new toll gates valued at AED 2.73 bn: The two new toll gates installed by Salik in Dubai were valued at a combined AED 2.73 bn, the emirate’s exclusive toll gates operator said in a statement (pdf). The gate at Business Bay Crossing on Al Khail road was valued at AED 2.27 bn, while the gate Al Safa South on Sheikh Zayed road was valued at AED 469 mn. These gates — which expand Salik’s network in Dubai to 10 gates — aim to redirect vehicles to routes with higher capacity to optimize road traffic.
Background: The Roads and Transportation Authority (RTA) said that the new gates will be operated by Salik back in January. The gates will boost revenue-generating trips by 7-8% this year, according to the statement yesterday.
Salik’s repayment plan: Salik agreed with the RTA to pay off the gates’ value over six years starting from the date of their operation at the end of November, where a biannual installment of AED 227.9 mn will be paid.
AVIATION-
Air Astana will introduce direct flights from Shymkent to Jeddah twice a week during 1-28 October, before transitioning to weekly flights to Madinah, according to Aviation World. Additionally, a new twice-weekly route from Almaty to Medina will start on 29 October, complementing the existing Almaty to Jeddah service.
OTHER STORIES WORTH KNOWING THIS MORNING-
- AD Ports + TASNEEF open offices in Kuwait: The UAE’s AD Ports and the Emirates Classification Society (TASNEEF) have opened two offices in Kuwait to boost cooperation in maritime transportation and facilitate trade flows between the two countries. (Kuna)
