Abu Dhabi government has decided to dissolve the Higher Corporation for Specialized Economic Zones (ZonesCorp) and transfer all its assets, rights and commitments to Abu Dhabi Ports.
ZonesCorp’s employees will also be transferred to Abu Dhabi Ports as per the new arrangement.
ZonesCorp’s economic zones which include the Industrial City of Abu Dhabi and Al Ain Industrial City, currently have over 900 manufacturing and commercial facilities that are home to some of the world’s leading industrial players in a variety of sectors and have attracted investments of around $19 billion. ZonesCorp itself has invested $1 billion in infrastructure over the last decade.
Through the merger, ZonesCorp will benefit from strategic alignment with Khalifa Industrial Zone Abu Dhabi (KIZAD), one of the world’s largest industrial zones spanning 410 square kilometers, which is owned and managed by AD Ports.
“This transition of ZonesCorp to Abu Dhabi Ports is beneficial to all parties involved – partners, employees, and, most importantly, our customers. Abu Dhabi Ports is an expert in developing the industrial and manufacturing sector and is constantly innovating to operate and maintain an integrated world-class business environment. By grouping economic zones within Abu Dhabi Ports, there will be better related to operational alignment, increased expansion and enhanced positioning to attract substantial direct foreign investment.”
Meanwhile, Group CEO of Abu Dhabi Ports Capt. Mohamed Juma Al Shamisi said: “By working together more closely, and more strategically, we will leverage our strengths in order to boost the competitive value of our industrial zones within the global marketplace. Our industrial cluster will be well-positioned to deliver even greater investment opportunities to our valued customers who will benefit from easy access to regional markets, increased scale and improved services.”
Abu Dhabi Port’s industrial and economic zones currently offer a combined land area of 554 square kilometers with more than 1,400 customers. With KIZAD’s investments at over $19.8 billion, the total investments attracted by Abu Dhabi Ports’ subsidiaries currently stand at $38.93 billion.