792-Dr. J. K. Patel Institute Of Management - Gujarat Technological ...

Another UAE's tiles manufacture, RAK (Ras Al Khaimah) Ceramics India, plans to
set up a tile plant in Ahmedabad, at an invest that of $150 million. The plant will be
commissioned by early-2012.
The Khalifa Industrial Zone Abu Dhabi (Kizad) spread over 417 sq km near Abu
Dhabi is eager to attract Indian companies in metals, petrochemicals and
pharmaceuticals sector for setting up their units.
Kizad, which is a part of Abu Dhabi Ports Company (ADPC) and controlled by the
UAE Government, is offering a series of sops including complete income tax and
customs duty holiday, 50 year-long bankable agreements, zero restriction profit
repatriation and power tariffs at Rs 1.80 a unit to the companies.
Industry sources said that Kizad management, which is doing its road shows in
Mumbai for promoting the zone, have already held preliminary talks with two of the
largest industrial groups in India for setting up their units there.
Kizad is located between Abu Dhabi and Dubai and in close proximity to the Khalifa
deepwater seaport. The industrial zone is currently offering sea, air and road
connectivity, while rail network is under construction.
Mr Khaled Salmeen, Executive Vice-President of Industrial Zones at ADPC, told
mediapersons on Wednesday that Kizad is a cornerstone of the Abu Dhabi's
economic vision 2030, which aims at diversifying the economy and making it less
dependent on revenues from oils and gas business.
“In 2008, our economy was $104 billion and by 2030 we want to grow it to $416
billion, where manufacturing would be an important component of the economy,”
Mr Salmeen said.
Kizad's phase I, which is spread over 51 sq km has already been launched with an
investment of about $7.2 billion. Foreign companies can set up units with the help of
joint ventures or they could set up their own 100 per cent subsidiary.
Mr Salmeen added that Kizad has already tied up with HSBC for debt financing and
it is also in the process of tying up with Indian banks for the same.
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