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Abu Dhabi set to announce Energy Capital

ABU DHABI — Abu Dhabi is set to announce an 'Energy Capital' within the next three months time, on the model of economic zones or free zones, where construction,technology, equipment suppliers and specialised companies relating to the oil and gas industry could base their regional offices to reach out to their clients in the Gulf and Asia, said Jaber Hareb Al Khaili, Chief Executive of ZonesCorp.

Speaking to Khaleej Times on the sidelines of Abu Dhabi Economic Forum, yesterday, the ZonesCorp Chief Executive said, "We have not yet decided whether oil and gas companies would enjoy economic zone or free zone incentives. But the Energy Capital would be announced in a couple of months."

It is the latest and most ambitious zone to date and is designed to complement ICAD 2's oil and gas hub and focuses on the knowledge -based and energy related services enterprises.

The Energy Capital will cover 36-hectares of land and will offer a highly distinctive physical urban indentity which incorporates around 500,000 square metres of high quality office accommodation and associated support facilities.

The physical infrastructure is complemented by a fully integrated ubiquitous technology platform that would be unprecedented in the GCC.

Even though the zone is still in the final phase of master planning, there has already been a high level of commitment from world players in this sector.

Earlier, he told the participants of Abu Dhabi Economic Forum that after the success of Industry Cities of Abu Dhabi 1 & 2, work on ICAD-3 spreading over 12 sq km would be started very soon.

"We are in the designing stage for ICAD 4 and 5 on 36 square km of land."