UAE > JOCIC, a consortium of Chinese firms, invests $300 million in Abu Dhabi Ports

kizid

Jiangsu Provincial Overseas Cooperation & Investment Company (JOCIC) has signed a 50 years agreement with Abu Dhabi Ports to initially invest $300 million to lease and develop 0.8 square miles (2.2 square kms) Abu Dhabi port. At Khalifa Industrial Zone Abu Dhabi (Kizad), according to Reuters, Mohamed Juma al Shamisi, Chief executive officer of Abu Dhabi Ports told that this would boost Abu Dhabi’s economic diversification plans.

JOCIC will sign five different agreements with five Chinese companies namely: Hanergy Thin Film Power Group, Jiangsu Fantai Mining Development Co Ltd, Xuzhou Jianghe Wood Co, Jiangsu Jinzi Environmental Technology Co and Guangzheng Group to assist in the project. These companies are involved in sectors ranging from power and metals to natural resources and banking and are expanding in the Gulf with its ambition to rebuild Silk Trade routes.

China and UAE had set up a joint strategic investment fund worth $ 10 billion in late 2015. UAE is the gateway to about 60% of China’s exports to regional markets at an annual volume of exchange worth $ 70 billion according to a statement from Abu Dhabi Ports. China is UAE’s second largest Trading partner and the biggest exporter to UAE.

ABOUT JOCIC

JOCIC is Jiangsu Province Overseas Cooperation and Investment Company. Jiangsu Province is one of China’s major exporters and is a strong production base of machinery and is one of the major petrochemical industry bases of China. Electronics, telecommunications, chemicals, machinery and equipment, textiles and garment are some of the pillar industries of Jiangsu.

About Kizad

Khalifa Industrial Zone Abu Dhabi (Kizad) opened up for business in 2012 and attracted investment around 55 billion dirhams ($15 billion) from various countries around the globe such as Brazil, India, Japan and Britain. The investments were in various industries such as food, metal, pharmaceuticals, aluminum and logistics.

About Hanergy Thin Film Power Group

Since entering the thin film industry in 2009, Hanergy Thin Film Power Group has been specializing in CIGS thin- film technology achieving a major breakthrough with the conversion efficiency of CIGS thin- film cell reaching 21%. The Company primarily focuses on: manufacture of various equipment, turnkey production lines for manufacture of thin- film power modules that is based in silicon, production and technological development of Copper Indium Gallium Selenide (CIGS) thin- film power turnkey production lines, manufacture of ground- mounted power station, manufacture of rooftop power stations and development of power application product in the thin- film category. Hanergy Thin Film Power group includes team of scientist focusing in R&D around the world including Sichuan province (China), Sweden, United States and Germany.

About Jiangsu Fantai Mining Development Co Ltd

Established in January 1999, Jiangsu focuses in real estate development, project contracting, tourism development, material trade and mining business. The company has also established a subsidiary company in Nigeria named Kepxing nig LTd for building material production, project contracting, mining business in November 2006.

About Xuzhou Jianghe Wood Co. LTd

Founded in October 1999, Xuzhou Jianghe Wood co. Ltd is famous for the quality, color and quantity produced of poplar. It has 30000 square meters of workshop and 12 processing lines. Owning fixed assets up to more than 80 million Yuan ($11 million), Xuzhou Jianghe Wood Co. LTD employs skilled workers more than 1200 people.

About Jiangsu Jinzi Environmental Technology Co

Jiangsu Jinzi Environmental Technology Company is a leading environmental protection company that focuses primarily in the design, building and operation of wastewater treatment plants for rural communities. Its presence can be specially felt in the Central and Southern Provinces of China. It has partnered strategically with Emefcy group representing Emefcy as their regional partner for distribution and deployment for Emefcy’s Membrane Aerated Biofilm Reactor (MABR).

About Guangzheng Group

Formerly known as Guangzheng Steel Structure Co. Ltd, Guangzheng Group is primarily engaged in the design, production and installation of steel structures. Guangzheng Group’s steel can be mainly found in the domestic Chinese market in industrial plant facilities, commercial high buildings, sports stadiums and other steel civil constructions. Its products include light steel structures, heavy steel structures, steel space structures and light steel integrated housing products.

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