Investors plan to pour in about $5 billion in investments at the Abu Dhabi's Khalifa Industrial Zone (Kizad) by 2015, the Gulf News said on Thursday. The Dubai-based newspaper said Khalid Salmeen, executive vice-president of Industrial Zones at Abu Dhabi Ports Company (ADPC), said that Kizad has already signed contracts with 30 contracts with investors. “We have signed 30 contracts so far. The investors are either solo or are in joint ventures. Most of the investors have local partners. The investors are from India, South Korea, China and Germany,” it quoted Salmeen as saying. The Dh26.5-billion Kizad in Taweelah will open in the fourth quarter of 2012, as scheduled, in time when the new Khalifa seaport opens, he said. “As of now, 78 percent of the industrial zone is complete, while the port is 90 percent complete. The port and the industrial zone put together are 86 per cent complete,” said Salmeen. Kizad also announced Wednesday the signing of a long-term ground development lease (musataha) agreement with Talex, the Taweelah Extrusion Company. The agreement will bring Dh735 million investment in Kizad, which has secured Talex more than 200,000 square metres of land in one of the world's largest industrial zones. Talex is a joint venture between Abu Dhabi Basic Industries Corporation, and Gulf Extrusions and is planning to start operations in Kizad in the fourth quarter of 2013 to produce high end extrusion products for the automotive markets. “Strategically situated in this cluster, Talex will directly benefit from Emal, providing the aluminium in molten form via the innovative ‘Hot Metal Road'.
