Manufacturing projects worth around Dh22 billion are under construction in Abu Dhabi’s newly-created industrial zone as part of the emirate’s push for economic diversification, official figures showed on Tuesday.
The 574 projects are being constructed in Icad 1 industrial zone set up near Musaffah industrial area by the Higher Corporation for Specialized Economic Zones (ZoneCorp), Alkhaleej newspaper reported.
The projects will be completed in mid 2011 and will sharply expand the emirate’s industrial investment, now estimated at around Dh27 billion.
“Construction of more than 600 other plants will begin in mid 2011 as nearly 619 projects had been licensed by ZoneCorp over the past period,” it said.
ZoneCorp has set up three Icad zones to attract investment in industry, services and other sectors near Musaffah just outside Abu Dhabi city.