(MENAFN- Mid-East.Info) Under the Agreement, Audex Pte Ltd – Abu Dhabi will set-up an engineering fabrication facility at Khalifa Port
Abu Dhabi, United Arab Emirates: AD Ports Group, the leading facilitator of global trade, logistics, and industry, has signed a land lease agreement for 30 years with Audex Pte Ltd a wholly owned subsidiary of PEC Ltd, a leading integrated project and maintenance solutions provider to the energy, petrochemical, terminal and pharmaceutical industries, with fabrication facilities spread across Asia and the Middle East.
The AD Ports Group's agreement with Audex will involve the EPC company setting up their engineering fabrication facilities in UAE at Khalifa Port close to the east berth. The investment in the facility will be made by Audex Pte. The move will facilitate setting up a fully dedicated single source facility in Abu Dhabi that will support EPC and modular process and gas compression projects as well as maintenance projects.
Saif Al Mazrouei, Chief Executive Officer, Ports Cluster, part of AD Ports Group, said:“With AD Ports Group expanding its reach into new geographies and evolving to include more solutions, being home to companies that share our vision of supporting global infrastructure is critical. We are proud that Audex has recognised the strategic location and capabilities of Khalifa Port, and we are confident that our infrastructure, digital solutions and services will allow them to deliver on their role as an EPC contractor within this region and beyond. We hope that this agreement will further enhance the exisiting areas of cooperation between the UAE and Singapore, and brings us closer to the wider Asia-Pacific region.”
Robert Dompeling, PEC's Group CEO, commented:“Our move to establish engineering facilities outside Singapore early in our corporate history has given PEC a comparative advantage to take hold of opportunities presented to us. Since establishing our presence in Fujairah, UAE in 2007, we were able to support the development of several major storage facilities in the Middle East largest oil hub. With this new investment in an engineering fabrication facility at Khalifa Port, we will be able to take advantage of its strategic location and extensive international network to further expand our footprint to support the Group's modular business, Engineering, Procurement & Construction (EPC) works and maintenance services in the UAE and around the region.”
About AD Ports Group:
Established in 2006, AD Ports Group today serves as the region's premier facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group's vertically integrated business approach has proven instrumental in driving the emirate's economic development over the past decade.
Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group's portfolio comprises 10 ports and terminals, and more than 550 square kilometres of economic zones within KEZAD Group, the largest integrated trade, logistics, and industrial business grouping in the Middle East.
AD Ports Group is rated A+ by S&P and A+ Outlook Stable by Fitch.