- Home
- Middle East
- UAE
- Tawazun Strategic Development Fund, Titomic sign agreement to set up 3D printing manufacturing facil ..
Tawazun Strategic Development Fund, Titomic Sign Agreement To Set Up 3D Printing Manufacturing Facility
Fahad Shabbir (@FahadShabbir) Published February 25, 2021 | 09:00 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 25th Feb, 2021) Strategic Development Fund (SDF) and Titomic, an Australian company have signed a collaboration agreement to assess the potential of setting up a joint venture between the parties to establish a local manufacturing line in order to produce advanced 3D printing technologies for large products and components at industrial scale for a variety of industries mainly focusing on aerospace, defense, oil and gas and mining in the UAE.
The Memorandum of Understanding (MoU) was signed by Dr Andreas Schwer, Chairman of Titomic Limited, and Mohamed Musabah Al Mazrouei - Director, Venture Investments, SDF.
The advanced technology additive manufacturing (3D Printing) plant will employ next-generation Industry 4.0 methods and industrial-scale automated production using high-performance metal alloys, including titanium for a variety of industry applications.
The potential joint venture between the parties will provide industrial scale 3D printing capability for the region. In addition, the 3D printing and manufacturing plant would also act as the distributor and after sale services center for Titomic products.
Titomic is an Australian listed public company (ASX:TTT) that utilizes patented additive manufacturing (3D Printing) technology with a reduced carbon footprint, robotic automation, Industry 4.0, and specialty materials expertise to create high-performance products and solve complex engineering challenges.
Strategic Development Fund (SDF), the investment arm of Tawazun Economic Council, is focused on financial return and economic impact within UAE’s strategic sectors, through equity investment in local and international partnerships and developmental funding towards UAE’s private sector.
Related Topics
Recent Stories
Attaullah Tarar’s success notification from NA-127 challenged
PSX witnesses positive trend today
PM Shehbaz meets CJP Isa to address IHC judges’ concerns
Pakistan vows to bring to justice perpetrators, abettors of Bisham terrorist att ..
May 9 riots: SC allows conditionally to military courts to deliver reserved verd ..
Interior Minister arrives in Peshawar after Shangla suicide attack
OPPO Reno 11 F 5G: Setting New Records as Pakistan's Most Beloved Smartphone Lin ..
PCB dismisses FICA's claims of unpaid dues in PSL
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 March 2024
Today Gold Rate in Pakistan 28 March 2024
Niger says US to submit plan to 'disengage' troops
Venezuelan opposition registers unknown poll contender after obstacles
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
2 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
5 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
5 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
5 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
5 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
5 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
5 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
5 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
5 months ago -
SIBF turns spotlight on remarkable contributions of women
5 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
5 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
5 months ago