+971 4 8831 303 info@cssdubai.com

Lighthouse - November, 2021.

ABU DHABI PORTS INK AGREEMENT WITH CMA CGM GROUP TO INVEST AED570 MILLION FOR THE NEW TERMINAL

The new Khalifa terminal will be the first semi-automated container port in the GCC region. Abu Dhabi Ports Group and Francebased CMA CGM Group, a world leader in shipping and logistics, announced on Thursday the signing of a 35-year concession agreement that involves an investment of AED570 million in the new terminal at Khalifa Port. A new terminal will be established in Khalifa Port, the first semi-automated container port in the GCC region. The terminal will be managed by a joint venture owned by CMA CGM’s subsidiary CMA Terminals (with a 70 percent stake) and AD Ports Group (30 percent stake). The partners are expected to commit approximately Dh570 million to the project, AD Ports Group said.

A new regional trading hub

With construction starting in 2021, the new terminal is set to be handed over in 2024. In phase 1, an initial quay length of 800 meters and an estimated annual capacity of 1.8 million TEUs. AD Ports Group will be responsible for developing a wide range of supporting marine works and infrastructure. This includes up to a total of 1,200 meters of quay wall, a 3,800-metre breakwater, a fully builtout rail platform, and a 700,000 sqm terminal yard, it said.

The terminal will provide CMA CGM with a new regional hub. It will enable the Group to develop its service offering between Abu Dhabi and South Asia, Western Asia, East Africa, Europe, and the Mediterranean, and the Middle East and the Indian sub-continent.

Rodolphe Saadé, chairman and chief executive officer of the CMA CGM Group, said the new project marks an important milestone in CMA CGM’s development strategy in the region.

This state-of-the-art terminal will contribute to enhancing Khalifa Port’s position as a leading global hub and to boosting the region’s economy, accelerating trade flows in and out of Abu Dhabi.”

Building up the nation’s economy

Abu Dhabi and UAE, in general, have seen increased economic activity thanks to their stable economic environment. This is the reason that has contributed significantly to the economic growth of Abu Dhabi and the UAE and made it a viable destination for foreign investment.

The CMA CGM Group- Abu Dhabi Ports agreement is another milestone in the country to significantly accelerate trade and the development of industry in the UAE and beyond. Falah Mohammed Al Ahbabi, chairman of AD Ports Group, said the UAE has become a key investment destination among many of the world’s leading players seeking to extend their reach into the Middle East.

Al Ahbabi said the agreement would aid the Group to realize its long-term ambitions to become a top 10 ports, industrial, and logistics operator by expanding our capacity and growth across the region and beyond. The project will be completed over five years. It will further develop the Khalifa Industrial Zone Abu Dhabi (KIZAD), which will make a significant on the GDP of UAE. With this development, Khalifa port will become a hub for three of the world’s top four shipping companies. It will open up trade routes to new markets in Europe, Africa, Western Asia, and South Asia.

Captain Mohamed Juma Al Shamisi, group CEO, AD Ports Group, said the addition of a new container terminal at Khalifa Port opens a new chapter in the organization’s efforts to become a key facilitator of global trade.

At home, we expect the presence of the shipping line terminal, which will link directly to Khalifa Port’s upcoming rail terminal and utilise its services, to accelerate trade flows moving in and out of the UAE, while also encouraging CMA CGM Group’s customers to consider establishing a presence in Abu Dhabi” said Al Shamisi.

Subscribe to our bi-monthly newsletter, Lighthouse

ecpo-2020
© 2022 Lighthouse. All rights reserved. Designed and maintained by NetVenture Digital Solutions Pvt. Ltd.
鶴橋ブランドコピー スーパーコピー ブランドコピー コピーブランド ロレックス スーパーコピー ロレックス コピー モンクレール スーパーコピー モンクレール コピー モンクレール ダウン コピー シュプリーム スーパーコピー シュプリーム コピー ウブロ スーパーコピー ウブロ コピー ルイヴィトン スーパーコピー ルイヴィトン コピー ブランドiphoneケースコピー グッチ スーパーコピー