Abu Dhabi: Abu Dhabi Ports along with partners will be investing more than Dh10 billion in the expansion of Khalifa port as well create new facilities to boost growth, a top executive of Abu Dhabi Ports said.
“We [Abu Dhabi Ports] will commit Dh4 billion in terms of our overall development in the next five years but that’s already started to be spent on this phase of the development. Also our partners will be investing at the same time,” said Ross Thompson, chief commercial and strategy officer of Abu Dhabi Ports during a media briefing recently.
MSC Mediterranean Shipping Company will be investing Dh4 billion to develop a container terminal at Khalifa Port and the money will be spent on operational equipment as well as in deepening the berths to handle some of the world’s largest shipping vessels.
The Swiss-based global transportation and logistics firm signed a 30-year concession agreement with Abu Dhabi Ports last month in this regard.
Cosco shipping from China will also build and operate a terminal at Khalifa Port apart from creating new facilities in Kizad (Khalifa Industrial Zone Abu Dhabi). It will invest Dh2.7 billion over the lifetime of its agreement with Abu Dhabi Ports.
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With gratitude – Gulf News