Dubai: Abu Dhabi Ports - the operator of ports, free zones and maritime operations in the emirate- and the French shipping company CMA CGM will build a new terminal at Khalifa Port. This would be the first semi-automated container port in the GCC, and jointly managed by CMA Terminals and AD Ports.
According to the 35-year concession agreement, CMA CGM Group will establish a new regional hub at Khalifa Port for reaching key markets in South Asia, Western Asia, and North and East Africa.
Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, met Rodolphe Saadé, Chairman and CEO of CMA CGM Group to discuss the partnership.
Under the terms of the agreement, the new terminal will have CMA Terminals own a 70 per cent stake and AD Ports Group the rest. The partners are expected to commit a total of approximately Dh570 million to the project.
“We project that over the next five years, the CMA Terminals joint venture will drive further development of the Khalifa Industrial Zone Abu Dhabi (KIZAD), while simultaneously contributing significantly to national GDP,” said Falah Mohammed Al Ahbabi, Chairman of AD Ports Group. The new terminal is set to be completed by 2024. AD Ports will be responsible for developing a wide range of supporting marine works and infrastructure.
“This 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,” said Rodolphe Saadé, Chairman and CEO of CMA CGM Group.
The French entity 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 France based shipping company operates 49 port terminals in 27 countries via its subsidiaries CMA Terminals and Terminal Link.