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Sun 9 Sep 2007 02:38 PM

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Dubai's Jafza eyeing US investment

Jebel Ali Free Zone Authority may spend up to $700mn on logistics centre in US community, reports say.

Dubai's Jebel Ali Free Zone Authority (Jafza) - which runs the Jebel Ali economic zone in the emirate - may spend between $600 million and $700 million on investments in the US.

The authority is eyeing a project to build a logistics and distribution centre in Orangeburg in the US state of South Carolina, according to UAE-based Arabic daily, Al Khaleej.

A delegation from Dubai World subsidiary Jafza International met with South Carolina officials and business leaders on Wednesday and said they expect to make a decision on Orangeburg within the next 30 days, Al Khaleej cites a report from US-based Charleston Business Journal as saying on Friday.

Jafza International is eying Orangeburg as a potential site in southeast US - a plan that could transform the mainly rural community into a substantial trade-based economy through the creation of 8,000 to 10,000 jobs over the next decade.

Officials believe if the project materialises, the total investment could reach $1.2 billion, a report in South Carolina's The Times and Democrat newspaper said today.

"Jafza International is currently considering various opportunities across the world including some in the US, India, Eastern Europe and Asia," a spokesperson from Jafza International told ArabianBusiness.com.

"However, no final decisions have been taken with regard to any specific opportunity in the US."

Jafza runs Dubai's Jebel Ali Free Zone, which offers an economic zone with lucrative business and tax incentives to corporations and provides warehousing and distribution facilities to international and local firms.

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