Latest news with #JAFZA
Time of India
20 hours ago
- Business
- Time of India
CM hard sells MP as supply hub for Bharat Mart project
Bhopal: CM Mohan Yadav on Tuesday held a high-level meeting with senior executives of DP World and Jebel Ali Free Zone (JAFZA) in Dubai, the UAE, to push for stronger trade and logistics ties, with a focus on the upcoming Bharat Mart project. Tired of too many ads? go ad free now Describing Bharat Mart as a "gateway to global trade", Yadav said the centre would offer Indian exporters, especially in food processing, agriculture and handicrafts, direct access to markets in the Middle East, Africa and Europe. Bharat Mart, set to become operational in 2026, is a multi-dimensional international trade centre being developed in JAFZA, Dubai, spread over approximately 2.7 million square feet. The foundation stone for the project was jointly laid by PM Narendra Modi and the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, in Feb 2024. The centre is being developed by DP World, and will include over 1,500 showrooms, state-of-the-art warehouses and office facilities. During the meeting, the proposed DP World rail terminal in Madhya Pradesh and the Ujjain–Nagda route were discussed as crucial enablers for seamless supply to Bharat Mart. This logistics connectivity will ensure fast, cost-effective and smooth transport of goods from India to Dubai, directly benefiting exporters from the state. Yadav said: "Our govt considers this journey not just about trade, but as a foundation for the economic future of Madhya Pradesh. Through Bharat Mart, our state will become a strong link in the global supply chain." DP World is a leading global logistics and supply chain solutions provider based in Dubai, operating more than 100 terminals and ports across over 78 countries. Tired of too many ads? go ad free now With an annual handling capacity of 70 million TEU containers, it ranks among the world's largest port operators. In India, DP World operates six terminals across major ports such as Mumbai, Mundra, Cochin, Chennai, and Visakhapatnam. It also manages cold chain logistics, container freight stations, and export-import services. DP World has expressed strong interest in developing inland container depots, multimodal logistics parks, agri-logistics hubs, and dry ports in Madhya Pradesh. "This aligns with the state's logistics and export policy and represents a significant step toward long-term infrastructure development through public-private partnership models," a govt spokesperson said in Bhopal.
Time of India
4 days ago
- Business
- Time of India
Dubai's secret: Why it leads the region beyond oil and real estate
Driven by policy reforms, global connectivity, and diversified industries, Dubai has emerged as the region's leading business and financial hub with strong international investor appeal/Image: File TL;DR: Dubai has diversified far beyond oil; today, non-oil sectors like trade, logistics, tourism, finance, and tech drive 99% of its GDP. Investor-friendly policies such as full foreign ownership, zero personal tax, Golden Visas, and free zones have attracted Fortune 500 firms, startups, and global high-net-worth individuals. World-class infrastructure (ports, airports, fintech zones) and a multicultural, skilled workforce strengthen its competitive edge. Its strategic location (within eight-hour flights of two-thirds of the world) positions Dubai as a global gateway to Asia, Africa, and Europe. 1. From Oil Dependency to Diversified Economy Once reliant on petroleum, today oil contributes under 1% to Dubai's GDP down from around 50% in the past. Modern growth is driven by trade (26%), transport/logistics (12%), financial services (10%), manufacturing, real estate, construction, and tourism combined. 2. Policies That Attract Global Business Dubai offers an unusually welcoming business environment: Free zones like DIFC (financial), JAFZA (industrial), and Dubai Internet City offer tax holidays, 100% foreign ownership, and full repatriation of profits. Golden Visa and long-term investor residency tied to property or business investments add stability for expatriates and capital inflows. 3. Infrastructure That Connects the World Dubai's logistical backbone is unrivaled: Jebel Ali Port is the world's largest man-made harbour and a global transshipment hotspot. Dubai International Airport (DXB) and Al Maktoum (DWC) provide seamless connectivity to 240+ destinations putting two-thirds of the global population within eight flight hours . Logistics and trade zones like DP World's facilities and multifaceted free zones enhance operational efficiency. 4. Financial Ecosystem & Innovation Dubai is a magnet for global capital and innovation: DIFC hosts ~6,900 companies, offers common-law jurisdiction, and a 50-year tax guarantee. It has added nearly 1,800 new registrations in 2024. Wealth management boom: Asset managers grew from 350 to 410 firms in DIFC during 2024. Dubai is on track to be the world's 6th-largest asset booking hub by 2028. FinTech Hive, fintech accelerators, and tech-focused free zones reinforce the emirate's role as a tech ecosystem. 5. Diverse Talent Pool and High Foreign Direct Investment Multicultural workforce : With high density of expats, Dubai is a melting pot of talent from 200+ nationalities. FDI engines : In 2024, Dubai attracted AED 52.3-billion in greenfield FDI, ranking first in the MENA region for such investments. Population growth : Nearly 3.8 million residents by end-2024, plus a daytime influx of commuters, creating strong consumer and workforce density. 6. Tourism & Real Estate Synergy Retail and luxury dominance : Ranked in top 10 globally in luxury upgrade market; retail contributes significantly to GDP and urban vitality . Real estate investment : High yields, dual-use visa-linked residence, and rapid off-plan growth support sustained investment demand. Tourism as a retail driver : Huge number of visitors in 2024 supported retail, hospitality, and rental markets. 7. A Resilient Economic Powerhouse Dubai is consistently ranked among the most competitive cities worldwide: Global City and Power rankings: Leading the MENA region in Global Power City Index. Dubai's GDP reached AED 429-billion in 2023, with non-oil sectors dominating. DIFC revenue surged: 37% growth in 2024, underlining regional financial prominence. Dubai's dominance is built on a multifaceted ecosystem: pro-business policies, world-class infrastructure, diversified economy, global financial services, and vibrant expatriate & investor communities. Rather than relying on oil, the emirate thrives as a global conduit welcoming capital, innovation, and people, all while cementing its role as the Gulf's economic front runner.
Zawya
03-06-2025
- Business
- Zawya
Malaysia's Wasco Energy to set up fabrication yard in the UAE
Wasco Energy, the energy services division of Malaysia-listed Wasco Berhad, announced on Tuesday the launch of a new modular fabrication yard in Dubai's Jebel Ali Free Zone (JAFZA) to support energy and industrial infrastructure projects across the Middle East region. The facility, which spans 25,000 square metres (sqm) with an annual production capacity of 10,000 tonnes, complements the company's existing fabrication hubs in Batam (Indonesia) and Telok Panglima Garang (Malaysia), and pipe coating plants in Qatar, Malaysia, the United Kingdom, and Tanzania, according to a press statement issued by the company. The statement said the JAFZA facility is designed to fabricate process modules, Pre-Assembled Unit/ Pre-Assembled Rack (PAU/PAR) units, gas compressor packages, substations, and E-Houses for both onshore and offshore applications. Wasco Energy offers end-to-end modular solutions, from Front-end Engineering Design (FEED) to fabrication and final delivery supported by an in-house team of 600 engineers. Shan Karupiah, Chief Executive Officer of Wasco Energy said: 'This strategic expansion enhances our ability to service both regional and global projects with tailored engineering solutions that address the complex demands of today's energy landscape.' (Editing by Anoop Menon) (
Zawya
03-06-2025
- Business
- Zawya
Wasco launches UAE fabrication yard, expands capacity to meet modular infrastructure demand
DUBAI — Wasco Energy, the Energy Services division of Bursa Malaysia-listed Wasco Berhad, has officially launched a new fabrication yard in the Jebel Ali Free Zone ('JAFZA'), United Arab Emirates ('UAE'), strengthening its modular engineering and fabrication capabilities to support energy and industrial infrastructure projects across the Middle East and beyond. Spanning 25,000 square metres with an annual production capacity of 10,000 tonnes, the new facility is designed to fabricate process modules, Pre-Assembled Unit/ Pre-Assembled Rack ('PAU/PAR') units, gas compressor packages, substations, and E-Houses for both onshore and offshore applications. Its strategic location near one of the world's busiest ports enhances Wasco's ability to execute high-volume modular projects with greater efficiency and speed. 'This expansion is not just about scaling capacity, it's about positioning Wasco closer to our clients and the region's dynamic energy ecosystem,' said Shan Karupiah, Chief Executive Officer of Wasco Energy. 'With this new UAE facility, we are better equipped to deliver high-quality, customised, and modular solutions with speed, precision, and engineering depth.' Backed by a global team of over 600 in-house engineers, Wasco Energy offers end-to-end modular solutions—from Front-end Engineering Design ('FEED') to fabrication and final delivery—leveraging multidisciplinary expertise and proven execution capabilities. The facility is built to international Health, Safety, and Environment ('HSE') standards, incorporating stringent safety protocols and a strong zero-incident culture. The UAE yard complements Wasco's existing fabrication hubs in Batam (Indonesia) and Telok Panglima Garang (Malaysia), and pipe coating plants in Qatar, Malaysia, the United Kingdom, and Tanzania—reinforcing the Group's global infrastructure delivery network. Aligned with the UAE's In-Country Value ('ICV') programme, the new yard also advances local industrial development by promoting domestic content and strengthening regional supply chains. 'Our expanding global footprint underscores Wasco's commitment to executional excellence,' Shan added. 'This strategic expansion enhances our ability to service both regional and global projects with tailored engineering solutions that address the complex demands of today's energy landscape.' Wasco extended its appreciation to Mr. Abdulla Al Hashmi, Chief Operating Officer, Parks & Zones, DP World GCC; Ms. Ebtesam Alkaabi, Vice President, JAFZA Sales; and Mr. Saoud AlAwadhi, Director of Sales, for their support in establishing the facility. Mr. Al Hashmi welcomed Wasco's investment and reaffirmed JAFZA's commitment to long-term collaboration. About Wasco Berhad Founded in 1999, Wasco Berhad ( is a leading provider of energy infrastructure solutions with operations in over 14 countries. The Group operates through two key divisions: Energy Services and Bioenergy Services. Its Energy Services Division delivers advanced pipe coating, corrosion protection, modular fabrication, and EPC solutions to conventional and renewable energy sectors. Wasco is listed on the Main Market of Bursa Malaysia (KLSE: WASCO), is a member of the FTSE4Good Bursa Malaysia Index, and a signatory of the UN Global Compact. Issued by Wasco Berhad. For media enquiries, please contact Juliana Jamaluddin ( or Elinar Yasmeen (
Al Bawaba
18-05-2025
- Business
- Al Bawaba
ADIB Accelerates Clean Energy Investment to advance net zero goals
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has successfully completed its first on-grid solar photovoltaic (PV) system in JAFZA marking a significant milestone in the bank's journey towards greater environmental sustainability and reducing is environmental footprint in line with its net zero plan. The project forms part of ADIB's broader commitment to reducing its environmental impact and supporting the UAE's Net Zero by 2050 strategy, in addition to the bank's own targets to reduce financed emissions by 2030. This initiative also aligns with ADIB's Vision 2035 and its focus on ESG integration across operations. The On-Grid Solar PV project was designed to reduce Scope 2 emissions from facilities building-related emissions by switching to clean, renewable energy, aligning with the goals set during COP28, which call for practical, low-carbon solutions to tackle climate change. This initiative reflects ADIB's Net Zero strategy to reduce emissions and support the UAE's national energy transition. This project is a meaningful step in ADIB's sustainability journey. ADIB is focused on implementing long-term, practical changes that reduce our environmental footprint and enhance operational efficiency. The system is expected to deliver energy performance improvements while reducing reliance on non-renewable power sources, reflecting ADIB's ongoing efforts to support projects that offer both environmental and economic value. ADIB remains committed to exploring sustainability-focused initiatives across its operations and partner with organisations that share its goal of building a more sustainable and resilient future.
