Abu Dhabi: Abu Dhabi Ports announced plans to invest Dh3.8 billion ($1.03 billion) in expanding Khalifa Port to meet the growing demands of current and future clients.
The expansion plan aims to increase the terminal capacity of the most development and fast growing port in the region and the world, in a move that aims to meet the expected growth of customer demands.
The state-owned company will invest Dh2.2 billion in the development of South Quay and Khalifa Port’s Logistics area, as well as Dh1.6 billion in expanding Abu Dhabi Terminals.
Mohammad Juma Al Shamsi, CEO of Abu Dhabi Ports, said the expansion will increase the capacity of Abu Dhabi Ports to five million equivalent units measuring 20 feet from 2.5 million by 2025.
The development and expansion project will offer more than 2, 800 jobs, and is expected to contribute Dh3.2 billion to Abu Dhabi’s GDP by 2025.
Al Shamsi noted that the announcement of the expansion plans coincides with the seventh anniversary of the inauguration of Khalifa Port, which was opened by President His Highness Shaikh Khalifa Bin Zayed Al Nahyan in December 2012.