UAE: Regional Hub AD Ports, CMA CGM to Invest 154 Million Dollars for New Terminal at Khalifa Port
Scheduled to be completed by 2024, the new terminal will be developed at the Khalifa Port in Abu Dhabi, UAE and will boast of an initial capacity of 1.8 million TEUs. Work on this project is expected to begin this year.
Abu Dhabi/UAE – AD Ports Group and France-based CMA CGM Group have announced the signing of a 35-year concession agreement. Under the terms of the agreement, a new terminal will be established at Khalifa Port in Abu Dhabi. It will be the first semi-automated container port in the GCC region which 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 154 million dollars to the project.
With construction starting in 2021, the new terminal is set to be handed over in 2024 with, 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 built-out rail platform, and 700,000sqm of terminal yard.
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 built-out rail platform, and 700,000 sq m of terminal yard.
CMA CGM Group is the third of the world’s top-four shipping entities to join forces with Abu Dhabi’s leading facilitator of trade, logistics and industry. The agreement confirms Khalifa Port’s standing as one of only a few major ports in the world providing hubs for three of the world’s top shipping lines, as well as serving as an instrumental part of the global maritime trade connecting markets from east to west.
H.E. Falah Mohammed Al Ahbabi, Chairman of AD Ports Group, said, “This landmark agreement with the CMA CGM Group is a prime example of those continued efforts and one that will significantly accelerate trade and the development of industry in the UAE and beyond.”
Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: “The ambitious project we are launching in Abu Dhabi 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. It will also enable our Group to expand its shipping and logistics network in the region, where we see a lot of growth potential.”