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- Lepidico (LPD) secures land for its phase one chemical plant within the Khalifa Industrial Zone in Abu Dhabi (KIZAD) for an initial term of 25 years
- LPD has secured the land for its 57,000-square-metre plant by executing the Musataha Agreement with Abu Dhabi Ports Company, PJSC
- The deal will see off-site infrastructure delivered by KIZAD’s parent company to the boundary site, including natural gas, power, industrial water, road access and more
- Shares are up 6.52 per cent at 2.5 cents at 10:45 am AEDT
Lepidico (LPD) has secured land for its phase one chemical plant within the Khalifa Industrial Zone, Abu Dhabi (KIZAD) for an initial term of 25 years.
The sustainable lithium hydroxide and critical metals developer obtained the land by executing the Musataha Agreement with Abu Dhabi Ports Company PJSC.
The plant will cover an area of around 57,000 square metres within the industrial-free zone, allowing full foreign business ownership as well as tax exemptions on imports and exports.
Under the deal, off-site infrastructure will be delivered by KIZAD’s parent company, Abu Dhabi Ports, to the boundary site. The infrastructure will include natural gas, power, industrial water, sewer services, access roads and drainage.
Notably, the plant site is located just 15 kilometres by road from Khalifa Port, where concentrate from Walvis Bay, Namibia, will be imported.
Lepidico Managing Director Joe Walsh commented on the announcement.
“The signing of the Musataha Agreement represents an important milestone in the development of the Phase 1 Chemical Plant and enables critical path geotechnical and infrastructure EPCM works to commence,” he said.
“We look forward to working with Abu Dhabi Ports Group as we bring the lithium chemical industry to KIZAD.”
Shares were up 6.52 per cent at 2.5 cents at 10:45 am AEDT.
