Investments in Dubai Techno Park (DTP) have now topped AED 2,000 million ($545 million) after a raft of new agreements were signed in September and October. DTP aims to attract foreign direct investment in research for the energy and power sectors with work scheduled to be completed by 2008/09 (MEED 29:10:04).
The most recent deals signed with DTP include: The local Proclad Group International has signeda$110 million agreement to invest in a 50,000-square-metre industrial complex to manufacture products for the oil and gas (O&G) industry. Under the deal, Proclad will set up a professional training academy and a research and development (R&D) centre to develop new technology in the O&G sector; The local Cimachas signed a $7 million agreement to build a technology and centre of excellence and a 10,000-square-metre automated panel manufacturing and assembly unit. Other agreements signed in recent months include: Gulf Food Industries - California Garden, a subsidiary of Kuwait Food Company,is investing AED 250 million ($68 million) in three new factories for canned, frozen and dry foods; Japan's Kiyosekiwill build a 17,000-square-metre plant to manufacture bio-water at a cost of about $54 million; Arab Beverages Establishment, a subsidiary of Switzerland-based Capri-Sun,is investing $27 million in a 20,000-square-metre manufacturing facility, aimed at doubling its daily production of soft drinks to 40,000 packets an hour; The local Kwik Steel Structuresis investing $14 million in a 45,000-square-metre facility to provide fast-track steel fabrication services; UK-based Trox Groupis developing a $10 million technology centre with a built-up area of 15,000 square metres to design, test and manufacture system and product solutions; A company identified as Bergmettal International is investing$8 million in a water production facility to be built over a 20,000-square-metre area; The local Safety Electrical will build a $3 million switchgear and lighting systems centre; The local Concept Groupis setting up a $2 million exhibition stand manufacturing facility with a built-up area of 10,000 square metres. The largest investment to date at DTP is being undertaken by the local Mammut Group, which is building a $135 million pre-cast concrete panel factory. Other companies to have already signed up include Al-Shahba Industriesand Metito, both local, Oman's Technobuild Holzfabrik, Qatar's Techno Lubeand Jeddah-based Mattex International. The park will initially be structured around five technology clusters covering desalination, water treatment, energy, oil and gas exploration and insulation. Canada's Cansultis the consultant.