Khalifa Port Expansion Costs $1.1 Billion

Khalifa Port Expansion Costs $1.1 Billion

The Khalifa Port expansion plan was inaugurated on Tuesday with an estimated value of $1.1 billion. The expansion is happening for ten years since the port opened back in 2012. UAE President Sheikh Mohammed bin Zayed Al Nahyan unveiled the expansion plans on the occasion of the 50th-anniversary celebrations of Zayed Port and AD Ports Group.

Khalifa port is one of the most active ports in Abu Dhabi and the area has expanded from 2.43 square kilometers to 8.63 square kilometers. It offers a capacity of twenty-one berths and services that puts it at the top list of global deep-water ports and the total worth of the port is valued at around $5.6 billion. The quay wall of the port has been extended from 2.3 kilometers to 12.5 kilometers. 

President Sheikh Mohamed inaugurates major expansion

The Khalifa port is being expanded together with other major business-level diversification for the AD Ports Group. They have opened up new trade routes, got listed in the Abu Dhabi Securities Market (ASX), and also made a handful of business acquisitions. These signal a grant long-term plan that the company is looking to invest in.

President Sheikh Mohamed inaugurates major expansion

President Al Nahyan said that Khalifa port expansion is part of a national project as it is one of the main ports for UAE ports and logistics services. The expansion will further promote high-level trade among UAE and other nations.

AD Ports Group hopes to increase the handling capacity of the Khalifa port to fifteen million TEUs per year and the general cargo handling capacity to twenty-five million tonnes by 2030. 

Captain Mohamed Juma Al Shamisi, managing director and Group CEO of AD ports said that 2022 is a milestone year for the company as they are celebrating the tenth anniversary of Khalifa port and the fiftieth anniversary of Zayed port.

The company is also creating a wider portfolio and investing in new business prospects, making productive acquisitions, etc. All these decisions made this year a historical moment for AD Ports Group.  

The Khalifa port, inaugurated by the Late Sheikh Khalifa in 2012 was constructed in reclaimed land four kilometers out to sea. It is now a major trade hub that serves more than twenty-five container shipping lines that have connections with almost seventy international destinations.

Abu Dhabi port has been a consistent contributor to the UAE economy and they have been creating $41.6 billion to the GDP of UAE which translated to a thirteen percent share of the non-oil economy. They have also created around 373,500 employees in the UAE.

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AD Ports Group has bought a seventy percent share in Transmar and TCI in Egypt, an eighty percent share in Global Feeder Shipping, and also acquired a Spanish logistics company Noatum.

All this will be widening the business prospects of AD Ports Group in the coming years and it will also help boost the GDP of the UAE too. Currently, AD ports have expanded their trade routes throughout the world by providing connectivity within the Arabian gulf, the Indian Ocean, East Africa, Central Asia, and the Red Sea.
The whole of UAE’s economy is gearing up for a transformation that is going to encourage more investments, tech services, future technologies and innovations, travel and tourism opportunities, etc.

These will diverge the existing oil-dependent economic structure to an entire investment and service-related economy. Both the government and AD ports group recognizes the importance of Khalifa port and other major ports throughout the UAE as they are the major focal points of International trade and logistics. The expansion plan falls within the proper time as other aspects of the UAE economy are also shaping up towards a global scale change.      

Content writer with good vocabulary and experience in writing news articles, and product reviews for healthcare supplements. Decent and qualitative articles are published in various well-known portals.

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