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FINANCIAL NEWS
Al Gharbia signs USD299.39b SMA with Abu Dhabi Ports
18 Aug 2015
(MENAFN) Abu Dhabi Ports has signed a standard Musataha Agreement (SMA) with Al Gharbia Pipe Company to open a new pipe manufacturing facility at Khalifa Industrial Zone Abu Dhabi (Kizad).
The state-of-the-art facility will cater for the region’s oil and gas industry manufacturing high quality sour grade Longitudinal Submerged Arc Welding (LSAW) steel pipes.
The SMA will see Al Gharbia Pipe Company invest a projected total of USD299.39 billion with their new facility on a plot size of 200,000 square meters, the company said in a statement.
“The exceptional infrastructure and transportation network offered by Kizad will make a significant difference to Al Gharbia’s business operations” CEO of Abu Dhabi Ports said.
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