UAE: Massive auto complex planned for Abu Dhabi
Investors in the United Arab Emirates have announced plans to spend nearly $US2.5 billion to transform Abu Dhabi into the region's main auto centre, the official WAM news agency reported, according to Reuters.
The agency reportedly said investors said they plan to build a $2 billion auto complex, called Autopolis, which will include showrooms, a car museum, shopping facilities, a 45 to 50 storey hotel and an exhibition centre to host international motor shows.
Investors also plan to start work soon on a 1.5 billion dirham ($409 million) facility featuring facilities to manufacture vehicles and auto parts as well as regional distribution facilities, Reuters added.
Ahmed Mohammed al-Rumaithi, executive president of Four Directions, a UAE firm involved in the project, reportedly said that the complex will be an "architectural wonder" that would put the UAE capital on the world map.
"This project will ... become an international centre for automobile lovers and a global tourist attraction centre," WAM quoted Rumaithi as saying, Reuters said.
Both projects are expected to be completed within three to four years, WAM reportedly said.
Reuters noted that Volkswagen in December announced plans to build trucks from 2006 in Abu Dhabi, the biggest and wealthiest of seven emirates that make up the UAE.