Tawazun zone aims for Dh2.5b defence ventures

Tawazun Industrial Park (Tip) is aiming to attract Dh2.5 billion in investments from local and international manufacturers across defence-related industries in the next five years, a company official told Gulf News.

The industrial zone, located between Abu Dhabi and Dubai and owned by UAE-based industrial manufacturer Tawazun Holding, was established last year and houses Tawazun’s major subsidiaries.
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Tip hopes to become a manufacturing base for industries, including basic metals, precision, oil and gas services, aerospace and defence, and attract investors to set up their plants in the park, said Rashid Helal Al Darmaki, advisor of strategy and portfolio management at Tip.
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Tip is currently in talks with at least seven international and local investors that it hopes will set up shop at the industrial park, he said.
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Read more: http://gulfnews.com/business/general/tawazun-zone-aims-for-dh2-5b-defence-ventures-1.1147961