Abu Dhabi Ports has signed an investment cooperation agreement with China for the Khalifa Port Free Trade Zone. Chinese companies will invest 300 mill. $ for a start.
An investment cooperation agreement with Jiangsu Province was signed to build investment projects through joint o[ds_preview]pportunities for both the UAE and Chinese economies. Initial investments from five companies from the province will bring 300 mill. $ to Abu Dhabi’s Khalifa Port Free Trade Zone.
Under the terms of the agreement, China-UAE Industrial Capacity Cooperation Construction Management, a UAE company newly established by the Jiangsu Provincial Overseas Cooperation and Investment Company Limited (JOCIC), will occupy and develop approximately 220,000 ha of the free trade zone for companies from the Chinese province of Jiangsu. This represents 2.2 % of the available free zone space in KIZAD’s newly allotted Khalifa Port Free Trade Zone (KPFTZ) area.
Five Chinese tenant companies announced their plans to invest in the lease space, including Hanergy Thin Film Power Group, Jiangsu Fantai Mining Development, Xuzhou Jianghe Wood, Jiangsu Jinzi Environmental Technology and Guangzheng Group.
According to Abu Dhabi Ports China is the UAE’s second largest trading partner and the biggest exporter to the UAE. The UAE is considered a gateway to about 60 % of China’s exports to regional markets at an annual volume of exchange of 70 bn $ dollars. Trade and economic relationships between the two companies are part of the »Maritime Silk Road« initiative.
