Chinese tyre manufacturer Roadbot has started the construction of US$614.37mn tyre manufacturing plant in KIZAD?s China-UAE Industrial Capacity Cooperation Demonstration Zone
The 2.2 sq km demonstration zone is being developed by Jiangsu Provincial Overseas Cooperation and Investment Company (JOCIC), with Roadbot being the first Chinese firm to set up there since JOCIC and Abu Dhabi Ports signed a 50-year agreement in 2017.
Across 275,000 sq m, the factory is expected to have an initial annual production capacity of three million passenger car radial (PCR) tyres and one million truck and bus radial (TBR) tyres. The production is set to increase to 10mn PCR tyres and one million TBR tyres by 2022.
Dr Sultan Al Jaber, the UAE minister of state and chairman of Abu Dhabi Ports, said, ?The Roadbot tyre factory will make an important contribution to the UAE?s manufacturing base as part of our leadership?s longstanding strategy to diversify our economy.?
The initiative also aims to strengthen bilateral relations between the UAE and China, boosting culture, investment and trade, as they play a significant role in the region?s economic development and prosperity.
Zhang Yingzi, chairwoman of Roadbot, commented, ?It is an important part of the Belt and Road Initiative and a crystallisation of multiculturalism, based on the principle of achieving shared growth through discussion and collaboration.?
Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, added, ?Abu Dhabi?s strategic location as a gateway to the MENA region and KIZAD?s logistic efficiencies and connectivity continue to attract significant interest from the Chinese business community, and we are delighted that our partnership with JOCIC continues to attract more and more Chinese firms to KIZAD.?
?Roadbot will connect Abu Dhabi to global and regional automotive manufacturing demand, joining more than 19 Chinese companies that have signed agreements to invest more than US$1bn in the demonstration zone established within the KIZAD,? he stressed.
Roadbot tyre project KIZAD is set to play a major role in the UAE?s economic diversification and sustainability plans, creating up to 1,200 new jobs and supporting the development of an innovative and sustainable ecosystem for the automotive industry in the UAE.