Abu Dhabi's industrial port and city project will receive a total investment of $24 billion (Dh88bn), according to Maqita Al Ahbabi, Senior Coordinator of Project Development Strategy and Development, Abu Dhabi Port Company. It will cater to 300, 000 residents and will create 150,000 jobs, she said.

The first phase will include the inception of Khalifa Port, is expected to be completed in 2010, followed by phases including aluminum, petrochemical and clean technology industries. Work in the port is going on without delay, with investment over the last 2 years reaching $5.1bn.

"Abu Dhabi aims to find strong partnerships to operate the port and Khalifa Industrial City. Abu Dhabi Ports Company set many sectors for partnership in the port and industrial city project, including industrial areas, infrastructure, warehouses and commercial services. Abu Dhabi has a long-term strategy to create an economic balance to reduce dependence on oil sector. We expect the emirate will hit an annual growth rate of 8.5 per cent in the non-oil sector. Khalifa Industrial City will have a big participation in reaching this growth rate."

Mohamad Al Qamzi, Senior Vice-President, Abu Dhabi Basic Industries Corporation (Adbic), spoke in the same session about Abu Dhabi Ploymers Park project. He said the project produced 140 million tonnes of plastic products in 2007 and is expected to produce 170 million tonnes in 2010. "We attempt to raise the project's capacity by 10 per cent a year up to 2015," he said.

Al Qamzi said foreign investments in this important industrial sector are on the rise and the value of investments currently is $2bn.

"We have many characteristics which push for the increase of foreign investments. The most important of which is the low prices of energy and easy obtaining of raw materials with competitive prices," he said.