Abu Dhabi Ports Buys Out Abu Dhabi Terminals
Mubadala, Abu Dhabi’s Investment Company, and Mubadala Infrastructure Partners, are to sell their 50% stake in Abu Dhabi Terminals to the remaining shareholder, Abu Dhabi Ports.
Abu Dhabi Ports is a key developer and operator of ports in the UAE, operating eleven ports and hosting an average of 25,000 ships per year.
Mohamed Juma Al Shamsi, CEO of Abu Dhabi Ports, said: “We are committed to continuing ADT’s growth and attracting more shipping lines to use Khalifa Port as their main hub port, consolidating its central role in Abu Dhabi’s port system and economy.”
It was recently announced that several Chinese firms are set to invest US$1 billion into Khalifa Port imminently, meaning Abu Dhabi Ports are set for some major upgrades.