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Fujairah Free Zone launches The InterAirports Zone

United Arab Emirates: Thursday, November 30 - 2006 @ 09:39

InterAirports is a specialist Zone for the delivery of quality products, technology, & services to Airports in the UAE and from the UAE to the Middle East & globally.

In his opening remarks, Mr. Sharief Habib Al Awadhi, Director General of FFZA said that the hub was another feather in FFZA’s cap for the strategic development of Fujairah & the airport business in the Emirates. He added that as many as 60 companies from Europe had already expressed an interest in this innovative business venture, where a select group of partners will operate together from the Zone in Fujairah.

He went on to say that one of the key factors for the success of this venture is the promotion, management & operation of InterAirports Zone. FFZA have therefore teamed up with two specialist companies, Intertrust, who will manage & operate the one stop center and ATG Airports from UK who will provide the airport sector expertise.

He added, “Working together with the FFZA team, Intertrust, & ATG will provide the foundational support & a core promotional team to develop InterAirport Zone organically & with the right balance of mergers, economy of scales & acquisitions.”

M Chatur, the CEO of InterAirports Zone, in his presentation of the strategies, benefits & opportunities, said, “In the Middle East alone the size of new airport sector business is over $50 billion. We have invested a considerable amount in research & have developed a 5 year business model & plan. As part of our strategy, we have identified & will pre select the right groups into this partnership to ensure we deliver on quality & cost.

‘Also as a specialized airport sector group we will proactively develop & expand by synergizing & making strategic mergers & acquisition to become the best & unique Airport sector Group globally, providing the best solutions for airports.”

InterAirports will select partners to ensure there is the right mix & synergy of complimentary & specialised products, technology and services, which will be delivered from the Fujairah based facility to Airports around the world. There will also be a dedicated R&D center in Fujairah for Airport Sector research & development. Of the 60 companies which Mr. Al Awadhi referred to earlier we will first be inviting up to 20 to join. Mr McGuiness of ATG said that after careful study & consideration ATG decided that InterAirports would have “an excellent foundational platform & team ”.

He added that ATG is looking forward to contributing to the development of the InterAirports business. Fujairah Free Zone Authority, a Fujairah Government agency, will enable, facilitate & support the development of this hub. The first two joint promoting partners are ATG Airports with airport sector specialization & Intertrust Group with expertise in professional corporate services & operating the one stop center with representative support office in London, supported by UK Chartered accountants.

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Thursday, November 30- 2006 @ 9:39 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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