Khalifa Port Expansion Project Inaugurated at $1.08 Bln Total Investment
Business
Abu Dhabi - Asharq Al-Awsat
United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan inaugurated on Tuesday the Khalifa Port expansion project at a total investment of AED4 billion ($1.08 billion). “The Khalifa Port expansion project is one of the specialized national projects and is considered a significant addition to the country’s ports and logistical services that aims at enhancing the UAE's position in the global trade movement,” Sheikh Mohammed said. He underlined the role played by Khalifa Port and other UAE ports in the development and diversification of the national economy. The expansion process included the development of the port’s South Quay, Khalifa Port Logistics, and Abu Dhabi Terminals. Khalifa Port has grown from 2.43 km2 to 8.63 km2, while its quay wall has been significantly extended from 2.3 kilometers to 12.5 kilometers. It now provides 21 berths and offers a range of bespoke services for key strategic industries, positioning it among the global elite of deep-water ports, with an estimated value of AED20.4 billion ($5.5 billion). The project is set to make a major contribution to AD Port Group’s target of increasing handling capacity at Khalifa Port by 2030 to 15 million Twenty-foot Equivalent Units (TEU) per year, and general cargo handling capacity to 25 million tons. Chairman of AD Ports Group Falah al-Ahbabi, for his part, said “Khalifa Port is one of the world’s most advanced deep-water ports.” “By continuing to expand our operations internationally, we are honoring the memory of the leaders who placed us on the path to progress. We have continued to reach new heights and deliver outstanding results through our expertise and global focus.” Capt. Mohamed al-Shamisi, Managing Director and Group CEO of AD Ports Group, said: “We have grown from a local champion into a publicly listed group with an expanding global reach. We will continue to expand and invest in the future and demonstrate our capacity for excellence across international markets.” AD Ports Group has evolved into a significant driver of economic growth, contributing AED152.8 billion ($41.5 billion) to the country’s GDP, representing 13% of the UAE’s non-oil GDP and creating approximately 373,500 jobs. It continues to attract foreign direct investment through economic cities and industrial zones managed by Khalifa Industrial Zone (KEZAD) Group and provides a broad range of digital services to enable trade and transport.
from Asharq AL-awsat https://english.aawsat.com/home/article/4043156/khalifa-port-expansion-project-inaugurated-108-bln-total-investment
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