Kizad to get $9.5m logistics business centre.
Abu Dhabi Ports has signed a standard musataha agreement (SMA) with Al Mazroui International Cargo Company (MICCO) to establish a new logistics business centre at Khalifa Industrial Zone Abu Dhabi (Kizad).
The facility will cater to MICCO's temperature controlled storage facilities, bulk storage through open yards, distribution services, and a service centre for its trucking fleet.
MICCO's new centre will be built in three phases.
The first phase will see the cargo company invest an initial $9.5m (AED35m), with further investments anticipated based on future developments of phase two and three. The new facility, requiring a plot size of 30,000sqn, is expected to be ready by Q4 2016, and fully operational by January 2017.
"Abu Dhabi Ports, operator and manager of ports and industrial zones in Abu Dhabi, has enjoyed a long-standing business partnership with MICCO - going back to the start of operations at Zayed Port, "said Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports.
"This new agreement with MICCO marks our continued efforts in supporting their business. Kizad, Khalifa Ports' industrial, trade, and logistics hub, is the ideal location for expanding logistics network and assisting MICCO expand its reach and develop business growth opportunities" he continued.
Captain Simreen, Managing Director at MICCO, said: "Khalifa Port and Kizad play an important role in our business. The new agreement allows us to better serve our current and prospective clients, in Abu Dhabi and the region as a whole."
In April 2014, the companies signed a MoU which guaranteed stability in the rate structure, and through which MICCO provided road freight services for container cargo pick-up and delivery to Khalifa Port to and from any location in the city of Abu Dhabi, including Musaffah.
2015 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. ( Syndigate.info ).
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 22, 2015|
|Previous Article:||Suez Canal $78m power plant set for 2016 delivery.|
|Next Article:||Averda wins competative tender from city of Rabat.|