Media ININ Economy We Trust
Media IN Abu-Dhabi 25, May 2019
Under the agreement, the two entities are looking into a possible 15 year, three-phase plan to develop 7.6 square kilometres of land at KIZAD
The agreement was signed by Samir Chaturvedi, CEO of Kizad, and Meng Changjun, president of Investments, East Hope Group, in the presence of Rashed Matar Alsiri Alqemzi, consul general, UAE Consulate General in Shanghai and Yongxing Liu, chairman of East Hope Group.
In phase one of the proposed project, East Hope would develop an alumina facility, while the second phase would include a red mud research centre and recycling project. The final phase of the project would see large-scale upstream and downstream non-ferrous metal processing facilities, said a statement.
As part of the agreement, Kizad, Abu Dhabi’s first integrated trade, logistics, industrial and free zone and a subsidiary of Abu Dhabi Ports, would support East Hope Group across all areas as it investigates setting up in Abu Dhabi, including ensuring the best utility prices, acquiring the land, creating a masterplan and handling the import of raw materials through Khalifa Port, and storage.
The agreement also includes exploring options for the sustainable generation of energy and a programme to preserve the environment, including the research centre.
East Hope Group, which is headquartered in Shanghai, is the latest Chinese firm to realise the potential of Abu Dhabi as a Middle Eastern hub and a gateway to the region, Africa and Europe, the statement said.
Earlier this year, Roadbot broke ground at Kizad on a new tyre manufacturing plant, which is located in the 2.2-sq km China-UAE Industrial Capacity Cooperation Demonstration Zone.
Chaturvedi said: “The powerful combination of Abu Dhabi’s strategic location, Kizad’s logistic efficiencies and the connectivity offered by Khalifa Port, the flagship port of Abu Dhabi Ports and one of the region’s biggest maritime hubs, continues to be a powerful magnet for Chinese investments in Abu Dhabi.
The East Hope Group produces aluminium and related products, as well as animal feeds. The company was founded in 1982 and has plants in Vietnam, Indonesia and Singapore.
Meanwhile, the China-UAE Industrial Capacity Cooperation Demonstration Zone, which was established in conjunction with Jiangsu Overseas Cooperation Investment Co Ltd. (JOCIC), has already attracted the interest of 19 Chinese firms since it was set up last year.
