Intergraph Corporation (Nasdaq:INGR) today announced that the Dubai Ports Authority/Jebel Ali Free Zone Authority (JAFZA
) has awarded Intergraph Middle East LLC a contract to deploy GeoMedia(R) as the GIS solution of choice for all of JAFZA
He added, Imdaad, therefore, provides critical FM solutions that support the free zone s day-to-day operations and help maintain the reputation of JAFZA
as a dynamic and highly efficient business hub.
Details on refinancing the JAFZA bond are expected to be finalized by the end of April.
JAFZA Chairman Hisham Abdullah al-Shirawi said in December that he does not rule out asset sales to help raise funds to pay off debt but said the company does not need to seek government support.
JAFZA had shortlisted seven banks including Citigroup, Banc of America, Morgan Stanley, HSBC, and Standard Chartered as potential advisors for Gazeley, the sources said.
JAFZA is a successful entity and I'm sure that financial institutions have enough confidence in JAFZA in order to cooperate in providing for such (refinancing) requirements," he added.
Shirawi is also chairman of Economic Zones World, which operates technology, logistics and industrial parks as well as free zones like JAFZA, under the Dubai World Group umbrella.
Peer Standard & Poor's has named the JAFZA issue as among Dubai state-linked obligations in 2012 with the greatest chance of encountering repayment issues.
HE Afif Shalabi said Tunisia sees JAFZA as a great Arab success story and a role model to for bringing economic prosperity to the Middle East region and seeks their support in enhancing Tunisian participation in global trade.
The delegation's visit was the result of the need to better understand the JAFZA model, the offered facilities and incentives to investors so as to explore and identify areas of cooperation between JAFZA and Tunisian businessmen and investors.
He said the station would mainly serve the people working or living in JAFZA as those who do not have access pass to enter JAFZA will not be able to access the station.
The RTA has also introduced feeder bus route number F54 to link the station to different areas of JAFZA on both sides of Shaikh Zayed Road.