Khalifa Economic Zones Abu Dhabi (KEZAD) Group has signed a 50-year lease agreement with NMDC Energy that will see the National Marine Dredging Company (NMDC) subsidiary build a 224,000 square metres facility for modular fabrication with an investment of approximately AED367 million ($100 million).
The project is expected to offer several benefits to the regional oil and gas sector, including world-class engineering, procurement, project management, fabrication, installation, and commissioning services for project owners and operators.
It will also create an estimated 3,000 new jobs.
Mohamed Al Khadar Al Ahmed, CEO, KEZAD Group, commented: “As the UAE’s premier industrial and economic zones, KEZAD Group is continuously working to advance the country’s energy, logistics, and marine engineering services.
“In keeping with the vision of our wise leadership, we are always striving to bolster the UAE’s marine sector by supporting the expansion of national assets like NMDC in Abu Dhabi.”
Ahmed Al Dhaheri, CEO of NMDC Energy, said: “This partnership marks a significant milestone for NMDC Energy as we deepen our commitment to the UAE’s industrial growth and sector innovation.”
NMDC Energy operates advanced fabrication facilities in Abu Dhabi, with a capacity to produce up to 100,000 tonnes of structural steel annually across an area of 1.3 million square metres. It is expanding its capabilities with a new 450,000-square-metre fabrication yard in Ras Al Khair Port, Saudi Arabia, which will have a projected capacity of 60,000 tonnes per year by 2026.
Al Dhaheri added that establishing this new modular fabrication facility represents a significant investment to support the UAE’s vision of becoming a global industrial powerhouse.
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