Abu Dhabi Ports and Advanced Manufacturing Solutions sign Musataha agreement
Abu Dhabi Ports has signed a Musataha agreement with Advanced Manufacturing Solutions LLC (AMS), a subsidiary of the FourWinds Group of Companies, to build a state of the art steel foundry producing automotive parts such as steep brake disks and brake calipers for the global automotive industry, at Khalifa Port’s Industrial Zone (Kizad), the company said in its press release.
The new foundry will be developed in three phases and ultimately will have a capacity of 300,000 metric tonnes per annum, making it amongst the largest single-source foundries in the world producing automotive parts.
The steel foundry products will cater for both local and international markets, exporting via Khalifa Port, for end use by the world’s largest, high-end vehicle manufacturers such as BMW, VW, and Mercedes-Benz as well as world leading automotive parts companies.
One such company, Continental Teves AG, has entered into an agreement to buy the full output of AMS’s first production line to support Continental’s demand from its European markets and its long-term strategy for the region.
Phase 1 of the foundry, estimated at USD 140 million (AED 514 million), will have an installed capacity of 75,000 metric tonnes per annum, and will produce grey iron for brake discs and ductile iron for brake calipers.
Phase 2 of the project will increase the capacity up to 145,000 metric tonnes per annum and Phase 3 will take the capacity to 300,000 metric tonnes per annum.
Covering 233,000 square meters, the foundry will employ a highly automated process and will be one of the most technologically advanced foundries in the word. Managed and operated by a highly qualified and trained team of experts, the foundry will align its production to the highest quality levels and will meet top international environmental standards.
Mr. Vivek Rao, the CEO of FourWinds Capital Management stated that ‘FourWinds Group of Companies, and its parent company, Th
Abu Dhabi Ports has signed a Musataha agreement with Advanced Manufacturing Solutions LLC (AMS), a subsidiary of the FourWinds Group of Companies, to build a state of the art steel foundry producing automotive parts such as steep brake disks and brake calipers for the global automotive industry, at Khalifa Port’s Industrial Zone (Kizad), the company said in its press release.
The new foundry will be developed in three phases and ultimately will have a capacity of 300,000 metric tonnes per annum, making it amongst the largest single-source foundries in the world producing automotive parts.
The steel foundry products will cater for both local and international markets, exporting via Khalifa Port, for end use by the world’s largest, high-end vehicle manufacturers such as BMW, VW, and Mercedes-Benz as well as world leading automotive parts companies.
One such company, Continental Teves AG, has entered into an agreement to buy the full output of AMS’s first production line to support Continental’s demand from its European markets and its long-term strategy for the region.
Phase 1 of the foundry, estimated at USD 140 million (AED 514 million), will have an installed capacity of 75,000 metric tonnes per annum, and will produce grey iron for brake discs and ductile iron for brake calipers.
Phase 2 of the project will increase the capacity up to 145,000 metric tonnes per annum and Phase 3 will take the capacity to 300,000 metric tonnes per annum.
Covering 233,000 square meters, the foundry will employ a highly automated process and will be one of the most technologically advanced foundries in the word. Managed and operated by a highly qualified and trained team of experts, the foundry will align its production to the highest quality levels and will meet top international environmental standards.
Advanced Manufacturing Solutions is a subsidiary of the FourWinds group of companies and the parent company Tharwa Investments.
The steel foundry falls within the FourWinds Group’s strategic direction to focus investments on industries that offer added value and use the latest technologies to meet market demand for unique products.
The new steel foundry represents one component of a series of investments that AMS plans to undertake in Abu Dhabi.
