Two Indian conglomerates are to invest about Dh1.2 billion ($327 million) to operate at Khalifa Economic Zones Abu Dhabi, boosting the emirate's push to make manufacturing a pillar of economic diversification and job creation.
The companies, Jindal Saw Group and Haldiram Group, will develop more than 514,000 square metres of manufacturing infrastructure, Kezad's parent company AD Ports Group said on Friday.
Kezad is the largest operator of integrated economic zones in the UAE. The agreements were signed during the Abu Dhabi Investment Forum in Mumbai, co-ordinated by the Abu Dhabi Investment Office and Abu Dhabi Department of Economic Development.
New Delhi-based Jindal, which makes steel pipes and tubes, will set up operations spread across 400,000 square metres at Icad Kezad Musaffah, at an investment of about Dh1 billion, it said.
Haldiram, a snack food major based in Nagpur, will build a 114,000-square-metre hub at Kezad Ma’mourah, while spending between Dh150 million and Dh200 million for the project.
The developments by Jindal and Haldiram are expected to create about 1,000 and 300 jobs, respectively, AD Ports Group said.
Abdullah Al Hameli, chief executive for economic cities and free zones at AD Ports Group, said the investments mirror the "
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