MANUFACTURING-

Kezad inks AED 1.1 bn contracts with Indian firms in manufacturing push: AD Ports Group subsidiary Kezad Group inked two land lease agreements with Indian manufacturing giants Jindal Saw Group and Haldiram Group to develop two manufacturing facilities in Khalifa Economic Zones Abu Dhabi (Kezad), according to an ADX disclosure (pdf). The agreements are valued at upward of AED 1.1 bn and cover over 514k sqm.

The details: Jindal Saw will invest AED 1 bn to develop a seamless steel pipe manufacturing plant covering 400k sqm in Kezad Musaffah’s ICAD. The facility will produce 300k tons per annum of steel pipes and tubes for the oil and gas sector, destined for export both regionally and internationally. Meanwhile, Haldiram Snacks, India’s largest sweets and snacks manufacturer, will develop its first regional manufacturing hub in Kezad Al Ma’mourah — a 114k sqm facility that will accommodate 11 production lines, with some AED 150-200 mn in planned investments.

TECH-

Finvasia Group joins NextGen FDI, plans UAE HQ: India-based engineering and tech conglomerate Finvasia Group joined the UAE’s NextGenFDI program, state news agency Wam reports. As part of the move, ZuluTrade, its FX social trading firm, will set up its GCC headquarters in the UAE for five of its brands. Finvasia operates across sectors like fintech, blockchain, and healthcare. Its portfolio brands include blockchain and asset infrastructure firm Blockmaze, payments and digital asset company CapitalWallet, financial infrastructure player OneVault, and Jumpp — an AI-driven fintech app.

Other recent additions to NextGen FDI — launched in 2022 to attract global tech players to the UAE — include Chinese smart truck firm Trunk, Singapore-based engineering solutions player Quest Global, and global risk and supply chain intelligence company Exiger.

SPACE-

#1- Space42, Spain team up on earth observation: ADX-listed space-tech firm Space42 inked an MoU with Spain’s state-owned satellite operator Hisdesat Servicios Estratégicos to collaborate on earth observation and satellite communications (satcom), according to a press release. The partnership outlines plans for joint technology integration and market development across both companies’ space assets.

The plan: The partnership will focus on developing satellite-based data sovereignty services for government, defense, and commercial customers. The two will explore investments across three main domains, including earth observation, wideband, and narrowband satcom.

#2- UAE launches National Space Industries program: The Supreme Space Council approved the National Space Industries Program, a new framework aimed at expanding the UAE’s commercial space sector by doubling the number of companies operating in space industries and doubling space-sector exports over the next five years, Wam reports. The program includes economic incentives, investment policies, and operational support for local and international firms, along with improved access to national contracts and space-facility infrastructure.

ICYMI- The UAE was said to be preparing a new private-sector-focused space strategy for release before year-end, as it looks to boost private spending in the sector — which is already up 30% y-o-y — and now accounts for 45% of all space spending. The country has invested AED 44 bn into its space sector to date and aims to be among the world’s top 10 space hubs by 2031.

INVESTMENT-

Canada’s Inovia Capital opens ADGM office: Canada-based venture capital firm Inovia Capital expanded to the UAE after opening an office in ADGM, according to a press release. Head of Strategic Partnerships and Office of the CEO Claire Glossop Irani (LinkedIn) will lead Inovia’s regional operations, focusing on supporting portfolio firms in establishing commercial and financial links with MENA entities, particularly Emirati and Saudi firms. Inovia also has offices in Canada, the US, and the UK.

IN CONTEXT- This expansion comes on the back of a recent Canadian Innovation Delegation to the UAE in October. The two countries also recently inked an MoU on artificial intelligence and digital infrastructure, as well as a wider investment pact — discussions for which also focused on bilateral investment.

RETAIL-

Adnoc Distribution launches The Hub retail project: Adnoc’s retail arm Adnoc Distribution unveiled The Hub by Adnoc, a service station development including fuel, EV charging, auto maintenance facilities, and other retail and lifestyle amenities, according to a press release (pdf). The first site opened in Shawamekh, Abu Dhabi, with six locations scheduled by end-2025 and a nationwide rollout to 30 hubs by 2030. Adnoc Distribution expects the network to generate USD 30 mn in EBITDA annually by 2030.

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