Al Masaood Group announces joining of ‘TA’ZIZ’ Project
Al Masaood Group, one of Abu Dhabi’s leading business conglomerates, has joined ‘TA’ZIZ’ project, a critical enabler of the UAE’s industrial and logistic development ambitions. ‘TA’ZIZ’ aims to drive and enable the expansion of the Ruwais Industrial Complex and Abu Dhabi’s chemicals, manufacturing and industrial sectors.
TA’ZIZ, which was launched in November 2020, is a critical enabler of the UAE’s industrial development ambitions. It is one of the joint projects of ADNOC and ADQ that targets the growth of the national industries and promotes the UAE’s economic diversification. The Industrial Chemicals Zone, meanwhile, is expected to become operational in 2025.
The announcement was made after Al Masaood’s participation in the recently concluded ‘Make it in the Emirates’ forum organized by the Ministry of Industry and Advanced Technology in collaboration with Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi National Oil Company (ADNOC), and other top national companies in the emirate.
Board Members Tariq Ahmed Al Masaood and Masaood Rahma Al Masaood attended the Group’s signing of an Expression of Interest during the forum. This makes Al Masaood Group one of the first Emirati-owned private companies to take part in the strategic project.
Supports Service Industry
‘TA’ZIZ’ comprises three zones: the TA’ZIZ Industrial Chemicals Zone, the Light Industrial Zone, and the Industrial Services Zone. Al Masaood’s participation will primarily focus on the Light Industrial Zone, which supports the service industry.
Moreover, the project will help boost Al Masaood’s Emiratization efforts and initiatives to train Emirati talents, thereby increasing its contributions to the National In-Country Value Program (ICV). to support the national economy, the ICV focuses on creating job opportunities in the private sector and redirecting larger portions of public spending into the national economy.
It also supports investments in research, development, and advanced technology, seeks to boost the gross domestic product (GDP), and enables the Ministry of Industry and Advanced Technology to strengthen the industrial sector’s performance and sustainability.
Fundamental in Changing in Industrial Sector
Ahmed Salmeen, Chief Executive Government Affairs, Al Masaood Group, said: “We are honoured to be a part of an initiative that bids to position the UAE as a leading destination for industrial investments. ‘TA’ZIZ’ is fundamental to changing the industrial sector and further strengthening the Emiratization program. It is essential to raising the global competitiveness of the local products and adding value to the local manufacturing processes.”
“Our participation in the ‘Make it in the Emirates’ forum and ‘TA’ZIZ’ shows our commitment to advance our national economy and industries and enhance the capabilities of Emiratis. We will also support in laying the foundation for a more diverse, flexible, and sustainable economy to bring our national development to the next level,” he further said.
Salmeen added: “Al Masaood Group will partner with leading public and private institutions and entities to achieve our country’s goals and ambitions, which include increasing the performance of the local industries and the national economy. We are also prepared to provide the necessary training to develop the talents of our citizens as leaders of the UAE’s sustainable development. Further, the Group will help fast-track the country’s transition to a knowledge-based economy, in line with Abu Dhabi Economic Vision 2030.”
As part of ‘TA’ZIZ,’ Al Masaood Group is studying the offer of light industrial services, including maintenance support, industrial processes, and facilities management solutions for the services and healthcare sectors. The Group is also studying the offer of products for the Ruwais Industrial Complex, with the possibility of establishing a facility within its Light Industrial Zone.