FINANCIAL NEWS

RAK FTZ plans $1b investment in 5 years

17 May 2010

(MENAFN) The Chief Executive Officer at the Ras Al Khaimah Free Trade Zone (RAK FTZ) said that it will invest at least $1 billion during the next five years to improve the logistics and infrastructure facilities, Emirates Business reported.

The CEO affirmed that emphasis is being laid on inviting companies to set up manufacturing facilities within the FTZ and efforts are on to improve the critical issues such as shortage of power and other infrastructural facilities.

The strategy is towards building infrastructure, upgrading standards of warehouses and office and incorporate latest IT solutions.

RAK FTZ will be spending at least $1 billion in upgrading logistical and infrastructural facilities within the RAK free trade zone, the CEO said.

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