Abu Dhabi: The Abu Dhabi Department of Economic Development (ADDED) and MT Group, a Shanghai-based valve manufacturer, have inked an agreement.
It aims to boost the value chain for high-precision equipment in Abu Dhabi, attract more Chinese industrial investments to the emirate, and promote sustainable development.
MT Group is set to build a facility in Abu Dhabi for API design valves, suitable to oil and gas applications. This initiative supports efforts to achieve the objectives of the Abu Dhabi Industrial Strategy (ADIS). It aims to enhance the local supply chain by emphasizing high-precision valves.
These valves are critical for most industries, especially the manufacturing subsectors ADIS focuses on. These subsectors comprise food processing, pharmaceuticals, chemicals, electrical, electronics, machinery and equipment, as well as transportation.
The facility will act as a crucial center for distributing MT Group’s products to GCC countries, Africa, the Commonwealth of Independent States (CIS), and American markets. MT Group plans to utilize the facility for research and development activities, further supporting Abu Dhabi in enhancing its industries with sophisticated products.
Engineer Mr. Arafat Al Yafei, Executive Director of Industrial Development Bureau, stated that this agreement with MT Group is a valuable addition to the industrial landscape as it addresses many aspects of the Abu Dhabi Industrial Strategy.
“We have launched initiatives to develop homegrown supply chain and value chain including investing AED1 billion in the recently announced Abu Dhabi Channel Partners programme to further enhance the industrial investment ecosystem, by providing detailed guides of opportunities and customised incentives packages to meet investors’ needs,” Mr. Al Yafei added.
This new collaboration is part of ADDED’s ongoing efforts to achieve the objectives of ADIS and bolster the emirate’s position as the region’s most competitive industrial hub.