Delmon Industrial Complex and KEZAD Group Sign 50-Year Lease for New Plant in Abu Dhabi
Abu Dhabi, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the largest operator of integrated economic zones, has partnered with Saudi Arabia’s Delmon Industrial Complex. They have signed a 50-year land lease agreement to establish a state-of-the-art plant in the ICAD III area of KEZAD Musaffah. This plant, with an investment of AED50 million, will cater to the oil and gas industry.
Delmon Industrial Complex, part of the Delmon Group founded in 1981 in Dammam, Saudi Arabia, is known for its work in mining, oil and gas, chemicals, construction, and logistics. The new plant will cover 59,000 square meters and focus on exploration, extraction, and refining activities to produce specialized products for the oil and gas sector.
Abdullah Al Hameli, CEO of Economic Cities & Free Zones at AD Ports Group, expressed enthusiasm for the partnership, highlighting its alignment with sustainable manufacturing goals and economic diversification. Ahmed Sulaiman Alghunaim, Founder of Delmon Industrial Complex, emphasized the strategic importance of expanding into the UAE and praised KEZAD’s reputation for investor services.
The collaboration aims to enhance local manufacturing initiatives and support the oil and gas industry’s complex processes with smart industrial systems, ensuring efficient production and distribution.
Doubts Revealed
Delmon Industrial Complex -: Delmon Industrial Complex is a company from Saudi Arabia that makes products for the oil and gas industry. They are expanding their business by building a new plant in Abu Dhabi, which is in the United Arab Emirates.
KEZAD Group -: KEZAD Group stands for Khalifa Economic Zones Abu Dhabi Group. It is an organization that manages special areas in Abu Dhabi where businesses can set up factories and offices.
50-Year Lease -: A 50-year lease means that Delmon Industrial Complex has permission to use the land for 50 years. They will pay money to KEZAD Group to use the land for their new plant.
AED50 million -: AED stands for United Arab Emirates Dirham, which is the money used in the UAE. AED50 million is a lot of money, and it is the amount Delmon Industrial Complex is investing to build the new plant.
ICAD III -: ICAD III is a special industrial area in Abu Dhabi where companies can build factories. It is part of the larger ICAD (Industrial City of Abu Dhabi) zones.
Oil and Gas Industry -: The oil and gas industry involves finding, extracting, and refining oil and gas, which are used to make fuel and other products. This industry is very important for many countries, including the UAE.
Exploration and Refining -: Exploration means searching for oil and gas underground. Refining is the process of turning raw oil and gas into useful products like petrol and diesel.
Economic Diversification -: Economic diversification means creating different types of businesses and industries in a country. This helps the country not to rely on just one industry, like oil, for its income.
