Abu Dhabi: Abu Dhabi Ports is expected to contribute Dh49.6 billion to the emirate’s Gross Domestic Product (GDP) by 2030 and help in create more than 100,000 jobs as the government pumps in money to expand the ports.
A top official of Abu Dhabi Ports said they are investing in the ports to upgrade the infrastructure and buy new equipment and boats.
“We are investing in Kizad (Khalifa Industrial Zone) in the secondary infrastructure and in Mina Zayed port to upgrade and build the cruise terminal. We will be investing in all our portfolio to expand,” said Captain Mohammed Al Shamisi, chief executive officer of Abu Dhabi Ports on Monday while speaking to reporters.
He said drop in oil prices has not impacted any of their operations or delayed their projects.
“We are growing on the basis of strength of Abu Dhabi’s economy. We are going as planned including the opening of cruise terminal in December.”
Oil prices have dropped by more than 40 per cent since June last year due to oversupply and weak demand. Analysts predicted that Gulf economies will be hit but will overcome the crisis due to massive cash reserves.
Abu Dhabi Ports contributed more than Dh14 billion to the emirate’s GDP in 2014, representing 2.9 per cent of the total non-oil GDP in 2014, which was estimated at Dh486 billion, Al Shamisi said.
Job creation
More than 39,500 jobs were created in 2014 covering 2 per cent of the total employment in Abu Dhabi.
The number of Emirati nationals working with Abu Dhabi Ports is expected to grow to 55 per cent by 2017 from the current figure of 47 per cent.
Abu Dhabi Ports control three international ports mainly Khalifa Port, Mina Zayed and Musaffah port and are linked directly to more than 100 global ports and are served by more than 36 shipping lines.
“We are having a solid growth in the first quarter with 32 per cent growth recorded in general and bulk cargo and cruise passengers.”
Al Shamisi said they signed new musataha agreements in the first quarter that represents an investment of more than $232 million (Dh853 million) in Kizad.
“The number of investors increased by 15 per cent in the first quarter. We have 71 national and international investors signed with us in Kizad and ten of these investors will be fully operational by the end of 2015.”
Cruise line sector
On the development of cruise line sector, he said they are working to open more direct destinations to Europe and other parts of the world.
“We will have cruise lines home porting into Zayed port in the coming season. The port will be used for embarking and disembarking. Sir Bani Yas Island cruise port will be ready this season to receive ships.”
In 2006-2007 season, the number of cruise passengers were 36,000 and the number increased to 200,000 passengers in 2014-215 season, Abu Dhabi Ports said.
