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Two global firms join Techno Park
DUBAI - Two major international companies, specialising in oil and gas and water desalination fields recently joined Techno Park, an integrated and innovative state-of-the-art development, which offers the complete infrastructure and facilities for launching pioneer research activities and emerging technologies, according to a senior official from the park.
Abdulla Ahmed Al-Quraishi, chief executive officer of Techno Park, who announced the tender for the construction of the Techno Park building yesterday, said that the establishment was currently negotiating with another 13 companies, specialising in the same fields, which already submitted applications to join the park in the near future and are under evaluation. Overall, some 135 companies in oil and gas and water desalination from around the world have shown interest to the Techno Park.
The park, launched last year under the name of Mohammed bin Rashid Technology Park, recently changed its name to Techno Park under the directives of General Shaikh Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and UAE Defence Minister.
Al-Quraishi said that the construction works of the phase one of the park would start in mid-October and will be completed in 10 months' time. The building will comprise lease offices, Techno Park headquarters, two R&D (research and development) centres for oil and gas and water desalination projects.
The total area to be developed is 2,800 square metres. Depending on the demand the park will expand in the future and the park authorities are already planning the development of stages two, three and four. He said: "Our vision is five to 10 years, but our mission is for 100 years."
The Techno Park will offer up to 50 years tax holiday for various institutes and companies involved in research activities and emerging technologies in oil and gas and water desalination fields setting up projects in the park, while the land will be available both for leasing and purchasing.
The park will focus on three core activities, including oil and gas, water desalination and environment. The desalination cluster will benefit from the fact that over 50 per cent of the world's desalination projects are being set up in the Gulf region, with the Gulf countries forecasted to invest more than $30 billion in desalination projects till the year 2025. and the UAE requirements of desalinated water doubling by 2010, while oil and gas cluster will be supported by the fact that more than $40 billion will be invested in natural gas projects in the Gulf region for the next six years.
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