{"id":97898,"date":"2024-11-14T00:00:00","date_gmt":"2024-11-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/chinese-firms-to-establish-manufacturing-plants-at-kizad\/"},"modified":"2024-11-14T00:00:00","modified_gmt":"2024-11-14T00:00:00","slug":"chinese-firms-to-establish-manufacturing-plants-at-kizad","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/14\/chinese-firms-to-establish-manufacturing-plants-at-kizad\/","title":{"rendered":"Chinese firms to establish manufacturing plants at Kizad"},"content":{"rendered":"

MANUFACTURING-<\/p>\n

#1- Chinese companies to set up factories at Kizad: <\/strong>Around 40 Chinese firms plan to establish manufacturing plants at the China-UAE Industrial Capacity Cooperation Demonstration Zone (JOCIC Park) in Khalifa Industrial Zone Abu Dhabi (Kizad), Zawya<\/a> reports. The projects are part of the Belt and Road Initiative (BRI) initiative, with investments in the zone currently standing at USD 10 bn, Jianzhong Gong, vice president of JOCIC, said. Some of the companies have already signed MoUs for their planned facilities with others expected to sign agreements at the Chinese Industrial Products Exhibition<\/a> at JOCIC Park next week. <\/p>\n

#2- Saudi Delmon set to build a manufacturing plant in Abu Dhabi for oil and gas<\/strong> products:<\/strong> Saudi Arabia-based Delmon Industrial Complex signed a 50-year ground lease agreement with Khalifa Economic Zones Abu Dhabi (Kezad Group) to set up a AED 50 mn manufacturing facility for oil and gas products, according to a statement<\/a> from Kezad. The facility will be established in the ICAD III (Kezad Musaffah) area, focusing on supplying oil and gas companies with processed products.<\/p>\n

\n

DEBT- <\/p>\n

EDB finances YDE\u2019s solar projects: <\/strong>Emirates Development Bank (EDB) signed a USD 27 mn financing agreement with Yellow Door Energy (YDE) to support the development and operation of over 60 solar plants across the UAE, according to a statement<\/a>. Yellow Door will use the funds to lease solar power plants through solar leases \u2014 also known as power purchase agreements \u2014 to industrial firms. <\/p>\n

Part of EDB\u2019s strategy? <\/strong>The lender was planning in May to provide AED 30 bn (c. USD 8.2 bn)<\/a> in financing to over 13.5k companies for renewable energy and food security, amongst other industries, by 2026. EDB also signed an agreement with the International Renewable Energy Agency to extend AED 1.3 bn (c.USD 350 mn)<\/a> in financing to support Irena\u2019s Energy Transition Accelerator Financing platform last year.<\/p>\n

\n

REAL ESTATE-<\/p>\n

#1- Al Seeb Developers launched a AED 500 mn residential project in Dubai's Busi<\/strong>ness <\/strong>Bay area<\/strong>, Royal Regency Suites,<\/strong> according to a press release<\/a>. The project, which features two towers housing a total of 235 units, according to the developer\u2019s website<\/a>, is scheduled for completion by 31 March, 2027.<\/p>\n

#2- Iman Developers launched the AED 320 mn One Park Square<\/strong> mixed-use residential <\/strong>project in Jumeirah Village Circle<\/strong>, according to a press release<\/a>. This marks the company's 14th development and is scheduled for completion in 2Q 2028. The 24-story project features 266 residential units and three retail units. <\/p>\n

\n

STARTUPS-<\/p>\n

Pemo bags USD 7 mn funding:<\/strong> Dubai-based fintech firm Pemo<\/a> raised USD 7 mn in a pre-series A round led by UK fintech fund Augmentum Fintech and Abu Dhabi-based Shorooq Partners, according to a disclosure<\/a> from Augmentum. Augmentum contributed USD 4 bn to the investment round, which saw participation from existing investors, such as Cherry Ventures, Speedinvest, and Fintech Collective. The investment will see Perry Blacher, a partner at Augmentum, join Pemo\u2019s board. <\/p>\n

Pemo will use the funding to advance its platform and expand into new high-growth markets<\/strong> across the Middle East. <\/p>\n

About Pemo: <\/strong>Pemo provides management and business payment solutions via corporate cards, with a focus on UAE-based SMEs. The company is headquartered in Dubai and has offices in Saudi Arabia and Egypt.<\/p>\n

\n

UTILITIES-<\/p>\n

Dewa receives eight bids for pumping stations tender: <\/strong>Dubai Electricity and Water Authority (Dewa) received eight bids for the Ghafat Idah Reservoir Complex Pumping Station and the Endurance Road Pumping Station Phase 1, Stream A, Zawya<\/a> reports. The tender covers electro-mechanical works and the development of supervisory control and data acquisition systems. The project is expected to take two years to complete.<\/p>\n

The interested bidders are <\/strong>UAE-based firms Binghalib Technology<\/a>, Danway Electrical and Mechanical<\/a>Engineering<\/a>, Emarat Aloula Contracting<\/a>, Green Oasis General Contracting<\/a>, Gulf Contracting and Landscaping<\/a>, Saudi Arabia\u2019s Al Sawaed Al Qafelah General Contracting<\/a>, Japan\u2019s Torishima Pump<\/a>, and India\u2019s Kalpataru Projects International<\/a>. <\/p>\n

The submitted bids ranged from AED 85 mn to AED 247 mn<\/strong>, with bidders choosing either or both pumping stations.<\/p>\n

\n

TECH-<\/p>\n

Beeah, Khazna, SCTA team up to launch the largest Tier III data center in <\/strong>Sharjah: <\/strong>Beeah Group partnered with Khazna Data Center and the Sharjah Communication Technologies Authority (SCTA) to set up the largest Tier III data center at the Sharjah Freezone for Communication Technologies in Kalba, among other data centers across the emirate, according to Wam<\/a>. Khazna Data Centres will develop the facilities, while the SCTA will provide regulatory support, allocate land, and establish energy infrastructure.<\/p>\n

\n

CAPITAL MARKETS-<\/p>\n

Brokerage and investment firm Al Ramz launched a new <\/strong>trading<\/a><\/strong>platform<\/a><\/strong>, offering access to both regional and global markets, including IPO subscriptions, according to a press release<\/a>. The Al Ramz app also features an AI-powered robo-advisory providing personalized financial guidance. Users can also share insights via a social forum. The platform plans to introduce a rewards program in the future.<\/p>\n

\n

TELECOMS-<\/p>\n

e& UAE signed an MoU with Dubai Airports to mull the deployment<\/strong> of a private 5G <\/strong>network at its airports<\/strong>, which could potentially place Dubai as the first in the region to implement 5G connectivity for operations at its airports, according to a press release<\/a>. The 5G network is expected to enhance operational efficiency through improved journey management and luggage handling, in addition to reducing passenger congestion at boarding gates.<\/p>\n

\n

HEALTHCARE-<\/p>\n

Dubai Health has approved plans for a new diabetes center set to open in 2026<\/strong>, more than doubling the current facility's size to 53k square feet, according to a statement<\/a>. The new center aims to increase patient capacity by 100% over the next decade. The expected cost was not disclosed.<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Delmon will build a AED 50 mn oil and gas manufacturing plant in Abu Dhabi<\/p>\n","protected":false},"author":1,"featured_media":97899,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1552],"tags":[47,895,1707,296,456,1888,7,131,1342,856,64,472,98,1390,147,1341,438],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-automotive","tag-cybersecurity","tag-dewa","tag-dubai-airports","tag-e-uae","tag-enterpriseam-uae","tag-healthcare","tag-investment","tag-kezad","tag-manufacturing","tag-rakez","tag-real-estate","tag-sharjah","tag-startups","tag-tech","tag-telecoms","wpautop","entry"],"acf":{"mongo_id":"d621518b-e093-41e2-bf82-ad0897394c45","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1347.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Chinese firms to establish manufacturing plants at Abu Dhabi\u2019s Kizad","related_issue":[97874],"teaser":"Saudi Delmon will build a AED 50 mn oil and gas manufacturing plant in Abu Dhabi","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.96f935ff-127e-444a-9f95-1b0af2bef36c.mp3"},"yoast_head":"\nChinese firms to establish manufacturing plants at Kizad - 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