Abu Dhabi Ports (ADP) has signed a standard Musataha agreement (SMA) with Al Mazroui International Cargo Company (MICCO) to open a new logistics business centre at Khalifa Industrial Zone Abu Dhabi (Kizad).
The development will support MICCO with temperature-controlled storage facilities, bulk storage through open yards, distribution services, and a service centre for its trucking fleet.
Abu Dhabi Ports CEO Captain Mohamed Juma Al Shamisi said: "Abu Dhabi Ports has enjoyed a long-standing business partnership with MICCO going back to the start of operations at Zayed Port."
"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."
Construction of the new facility will run through three phases, where MICCO will initially invest AED35m ($9.52m) for phase one.
It is expected to be completed by the fourth quarter of 2016, and be fully operational by January 2017.
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MICCO managing director captain Simreen said: "Our major clients include ADNOC, Takreer, GASCO, ADCO, NPCC, Borouge, Al Hosn Gas Development, ADGAS and ADMA-OPCO, and several other large semi-government and privately owned industrial enterprises and world-renowned engineering companies that require access to the range of world-class services and opportunities presented by a Kizad home base.
"The new agreement allows us to better serve our current and prospective clients, in Abu Dhabi and the region as a whole."
Recently, ADP and the Industrial Development Bureau of the Department of Economic Development (IDB) signed a memorandum of understanding to establish a joint programme to boost industrial investments.
Image: Officials of ADP and MICCO during the signing ceremony. Photo: courtesy of Abu Dhabi Ports.