RAK Economic Zone signs deal to establish tech-focused industrial hub

Ras Al Khaimah Economic Zone (RAKEZ) has signed an agreement with Indian construction giant Rana Group to establish a new hub that will focus on "pioneering technologies" for over 150 industries and create thousands of jobs.

Erisha Smart Manufacturing Hub will be a state-of-the-art facility spanning 15 million ft2, with an expansive total construction area of approximately 25 million ft2. The hub will focus on technologies such as electric and hydrogen vehicle production, renewable energy, EVTOL (electric vertical take-off and landing) aircraft, and semiconductor manufacturing.

RAKEZ's CEO, Ramy Jallad, said “Ras Al Khaimah continues to establish itself as a fertile base for technological innovation and sustainable development. With its robust infrastructure, strategic location, and dynamic business environment, the emirate is well-positioned to support forward-thinking initiatives like Erisha Smart Manufacturing Hub."

Through the Hub, Rana Group reportedly aims to create a sustainable and technologically advanced ecosystem, seamlessly integrating industrial, residential, and commercial spaces. It will house a wide range of facilities, including hospitals, medical colleges, shopping complexes, hypermarkets, warehouses, office spaces, community centres, banks, and financial institutions.

Erisha E Mobility Chairman and Managing Director Dr. Darshan Rana commented, “We are thrilled to partner with RAKEZ and bring Erisha Smart Manufacturing Hub to life. This project will be at the forefront of the green energy revolution, contributing significantly to the UAE’s net zero ambitions and creating a self-sustainable future. Our goal is to set new benchmarks in sustainable industrialisation, driving innovation while supporting the global transition to cleaner energy solutions.”