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15 Chinese companies to invest $1 bn in Khalifa Port Free Trade Zone

Abu Dhabi Ports and the Chinese Jiangsu Provincial Overseas Cooperation and Investment Company (JOCIC) announced that 15 Chinese companies struck investment deals with the Khalifa Port Free Trade Zone (Khalifa Port FTZ)  at a total value of $ 1 billion.

The agreements crowned a deal inked in 2017 between Abu Dhabi Ports and the Chinese Jiangsu Provincial Overseas Cooperation and Investment Company (JOCIC).

Abu Dhabi Ports and JOCIC signed the 50-year agreement under which Dh1.1 billion investments were planned to be pumped into the Khalifa Port Free Trade Zone. JOCIC's new company, the China-UAE Industrial Capacity Cooperation (Jiangsu) Construction Management, runs renting operations of about 2.2 square kilometers in Khalifa Port Free Trade Zone.

JOCIC representatives visited Abu Dhabi to post representations of the 15 Chinese companies the industrial zone and ongoing projects as well as the privilege offered by Khalifa Port FTZ.

Abu Dhabi Ports CEO  Mohamed Juma Al-Shamisi hailed the state's wise policy and continued support for Abu Dhabi Ports to be a pioneering center luring regional and international investments and trade.

He said Abu Dhabi Ports boasts a sublime position in the Chinese market, citing the Khalifa Port FTZ's important location as well as its infrastructure which was built in line with international standards.

He lauded the successful partnership with JOCIC which promoted the services offered at Khalifa Port FTZ among Chinese investors.

Abu Dhabi Ports and JOCIC took the first joint steps toward cementing trade and economic relations between the UAE and China, he said.

Meanwhile, Luo Hua, JOCIC's general manager, commended the success of the China-UAE Industrial Capacity Cooperation (Jiangsu) Construction Management since its establishment.

He added that the joint project between JOCIC and Abu Dhabi Ports marked an important step for enhancing trade and economic cooperation between China and the UAE.

He said the joint project realized great success to the extent that it encouraged many Chinese companies to mull investing in Abu Dhabi.


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