MSC to Invest $1.1 Billion in Khalifa Port
Abu Dhabi Ports has signed a 30-year concession agreement with Mediterranean Shipping Company (MSC), the second largest container liner in the world, to establish a new container terminal at Khalifa Port.
As well as being strategically located between Europe and Asia, Khalifa Port is also one of the Middle East’s most technologically-advanced ports.
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Chairman of Abu Dhabi Ports, witnessed the signings, alongside a number of high ranking officials.
Captain Mohamed Juma Al Shamisi, Chief Executive Officer at Abu Dhabi Ports and Diego Aponte, President and CEO of MSC Group, were signatories for both agreements
His Excellency Dr. Sultan Ahmed Al Jaber said: “Under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, the UAE has made historic strides in both economic and social development, striving to be a leader in the maritime sector, positioning itself on the global economic and trade map.
Read more: Abu Dhabi Ports Buys Out Abu Dhabi Terminals
“Since the inauguration of Khalifa Port by His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, on 12 December 2012, it has become a real testament to the advanced engineering practices in the UAE, in addition to the success of the government’s strategic plans to build world-class infrastructure projects.
“Over the past five years, Khalifa Port has been recognised as one of the most modern and technologically advanced ports in the region and the world.
“These agreements cement the UAE and Abu Dhabi’s position as a global trading, shipping and logistics hub.”
Developments at the port include an increase from 12 ship-to-shore cranes to make a total of 25 of some of the most technologically advanced cranes in the world.
In addition, berths will be deepened, making Khalifa Port the first port in the region capable of receiving the largest shipping vessels in the world that specialise in bulk cargo shipment.
Diego Aponte, President and Chief Executive Officer of MSC, said: “MSC is delighted to be part of the UAE’s maritime sector growth.
“The UAE has a rich history in international trade and after two decades of operating in the country, MSC is pleased to continue to support the growth of the local maritime economy.
“We are confident that with this investment we will continue to ensure a high level of service for our customers and have the capacity to grow the scale of our operations in the UAE.”
Captain Mohamed Juma Al Shamisi, Chief Executive Officer at Abu Dhabi Ports, said: “Khalifa Port plays a vital role in Abu Dhabi Ports’ strategy that aims to further enhance the capital and the UAE’s economic and trade positioning on a regional and global level.”
MSC operates 480 offices across 150 countries worldwide, while its shipping line sails on more than 200 trade routes, calling at 500 ports.
Khalifa Port’s capacity is set to grow from 2.5 million TEU to 5.3 million by 2020, making it one of the top 25 ports worldwide in handling containers.
