- Title: Abu Dhabi's Khalifa Port plans $1 bln expansion
- Date: 11th December 2019
- Summary: ABU DHABI, UAE (DECEMBER 11, 2019) (REUTERS) CRANES AT ABU DHABI PORT SHIP DOCKED AT ABU DHABI PORT VARIOUS OF CONTAINERS AND CRANES AT ABU DHABI PORT TRUCK MOVING BETWEEN CARGO NEWS CONFERENCE IN SESSION SIGN READING (Arabic) and (English): '7th Anniversary Khalifa Port' (SOUNDBITE) (English) ABU DHABI TERMINALS CHIEF COMMERCIAL OFFICER, JACOB LARSEN, SAYING: "We will grow our capacity to 5 million TEU (Twenty-foot equivalent unit) by the end of 2020. That is happening through an investment of approximately 1.6 billion dirham, that is already been put in place. We are well underway of our expansion and it is expected to be complete as mentioned, at the end of 2020. With this, we will be increasing our automation capabilities." VARIOUS OF CONTAINERS AND CRANES AT PORT READING (Arabic) and (English): 'Khalifa Port' TRUCKS MOVING IN PORT SIGN READING (Arabic) and (English): "Abu Dhabi Terminals" (SOUNDBITE) (English) KHAIFA PORTS ACTING DIRECTOR, MOHAMED AL-MENHALI, SAYING: "We are expanding the Khalifa port with the investment of 2.2 (billion dirhams) as I said and this mainly comes into the main area. (An) area which we call south quay, that is if I go deep into technical, it is a 3 km of quay holes and with a surrounding area of 1.2 or 1.3 million square meters. There is another area which we call the Khalifa port logistic, which is again a quay hole of 3.1 km and a yard behind it of 1.2 million square meters." VARIOUS OF CONTAINERS AT KHALIFA PORT VARIOUS OF CRANES AT KHALIFA PORT VARIOUS OF SHIP DOCKED AT KHALIFA PORT SCREEN READING (Arabic) and (English): 'Abu Dhabi Ports' (SOUNDBITE) (English) ABU DHABI TERMINALS DEPUTY CEO, NASER ALBUSAEEDI, SAYING: "Secondly, it is going to be the link between west and east, so it is going to be a very important hub within the region as well." VARIOUS OF CONTAINERS AT ABU DHABI PORT ABU DHABI PORT AND UAE FLAGS EXTERIOR OF KHALIFA PORT ADMINISTRATIVE BUILDING
- Embargoed: 25th December 2019 15:24
- Keywords: Abu Dhabi Cargo Containers Expansion Khalifa Port Shipping
- Location: ABU DHABI, UAE
- City: ABU DHABI, UAE
- Country: UAE
- Topics: Economic Events
- Reuters ID: LVA001B9J5LSD
- Aspect Ratio: 16:9
- Story Text: The capacity of Abu Dhabi's Khalifa Port will increase by 50% by the end of 2020 as part of a 3.8 billion dirham ($1 billion) expansion of the emirate's main port announced on Wednesday.
The oil-rich capital of the United Arab Emirates is investing billions of dollars in infrastructure to reduce the emirate's dependence on oil and gas and the port is a key part of its plans.
Khalifa Port, which opened in 2012, is between Abu Dhabi city and the financial centre of Dubai where the region's largest transshipment port Jebeli Ali is located.
The container port's handling capacity will increase to 7.5 million twenty-foot equivalent units (TEUs) a year, up from 5 million, with a 1.6 billion dirham investment from Abu Dhabi Terminals, owned by state-run Abu Dhabi Ports and Swiss-based Mediterranean Shipping Co. (MSC).
"Khalifa Port always tries to be at the forefront and ahead of other ports," said Mohamed al-Menhali, the port's acting director.
The port is expected to handle 2.5 million TEUs this year, up from 1.7 million in 2018, according to state owner Abu Dhabi Ports.
The expansion will be partly self-financed with the rest raised through local banks, executives said.
Khalifa Port will invest a further 2.2 billion dirhams on the South Quay development and Khalifa Port Logistics which will include new quay walls and additional terminal yard space to be completed by the first quarter 2021.
The port's CSP Abu Dhabi Terminals facility, which opened in April and is majority-owned by China's COSCO, has so far handled 330,000 TEUs this year and is expected to handle over 800,000 in 2020, Deputy CEO Naser Albusaaedi said. Its annual handling capacity is 2.5 million TEUs.
A further 1 million TEUs of capacity could be added to that facility, Albusaaedi said, although no decision has been made.
(Production: Abdelhadi Ramahi, Tarek Fahmy) - Copyright Holder: REUTERS
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