The port is now positioned among the global elite of deep-water ports, with an estimated value of AED 20.4 billion….reports Asian Lite News
President Sheikh Mohamed bin Zayed Al Nahyan, yesterday inaugurated Khalifa Port’s expansion, as part of a celebration recognising the achievements of AD Ports Group on the 10th anniversary of Khalifa Port, and the 50th anniversary of Zayed Port.
“The Khalifa Port expansion project is one of the specialised national projects and is considered to be an important addition to the country’s ports and logistical services that aims at enhancing the UAE’s position in the global trade movement,” Sheikh Mohamed said.
He highlighted the role played by Khalifa Port and other UAE ports in the development and diversification of the national economy.
The official inauguration of the expansion programme marks another major milestone in a year that has seen AD Ports Group list on the Abu Dhabi Securities Market (ADX), open new trade corridors, complete a series of major acquisitions, rapidly transform its business and portfolio of services, and build strong relations with existing and emerging trade partners for the UAE.
As part of the expansion, which includes the development of the port’s South Quay, Khalifa Port Logistics, and Abu Dhabi Terminals at a total investment of AED 4 billion, Khalifa Port has grown from 2.43 km2 to 8.63 km2, while its quay wall has been significantly extended from 2.3 kilometres to 12.5 kilometres. It now provides 21 berths and offers a range of bespoke services for key strategic industries, positioning it among the global elite of deep-water ports, with an estimated value of AED 20.4 billion.
The programme is set to make a major contribution to AD Port Group’s goal of increasing handling capacity at Khalifa Port by 2030 to 15 million TEUs per year, and general cargo handling capacity to 25 million tonnes.
Officially inaugurated by the late Sheikh Khalifa on 12.12.12, Khalifa Port was developed from a stretch of reclaimed land four kilometres out to sea and is now a major hub serving more than 25 container shipping lines with direct links to more than 70 international destinations. It has been ranked in the top five of the global Container Port Performance Index (CPPI), developed by the World Bank and S&P Global Market Intelligence, and now hosts three of the world’s top four shipping operators, CSP COSCO, MSC and CMA CGM.
Falah Mohammed Al Ahbabi, Chairman of AD Ports Group, said, “We are honoured to welcome President His Highness Sheikh Mohamed bin Zayed Al Nahyan, to inaugurate the Khalifa Port expansion, which is a vital national project to support the direction of our wise leadership to position Abu Dhabi and the UAE at the frontier of global trade.
“Today, Khalifa Port is one of the most advanced deep-water ports in the world. By continuing to expand our operations internationally, we are honouring the memory of the leaders who placed us on the path to progress. We have continued to reach new heights and deliver outstanding results through our expertise and global focus.”
AD Ports Group has evolved into a significant driver of economic growth, contributing AED 152.8 billion to UAE GDP, representing 13% of the UAE’s non-oil GDP and creating approximately 373,500 jobs. It continues to attract foreign direct investment through economic cities and industrial zones managed by KEZAD Group and provides a broad range of digital services to enable trade and transport.
AD Ports Group has significantly grown its fleet to more than 175 vessels and expanded the range of trade routes to span most of the world and provide the highest levels of connectivity between the Arabian Gulf, the Indian Ocean, the Red Sea, East Africa, and Central Asia.
The result has been a record financial performance – with revenue of AED1,466 million and net profit of AED334 million in Q3 2022 – as well as a significantly higher global profile for the company and for Abu Dhabi as a major driver of trade, industry and logistics.
In 2022, the company celebrates the tenth anniversary of Khalifa Port and fifty years of operations at Zayed Port.