Khalifa Port a significant hub within the Belt and Road Initiative

News

Khalifa Port a significant hub within the Belt and Road Initiative

16 Apr 2020

Khalifa Port's CSP Abu Dhabi Terminal, a partnership between China's Cosco Shipping Ports Limited (CSP) and Abu Dhabi Ports (ADP), announced on Wednesday that it has crossed the 540,000 TEU milestone in March since its operational soft launch in April 2019.

Based at ADP's flagship Khalifa Port, the 1.1 billion UAE dirhams ($299 million) deep-water, semi-automated container terminal was established under a 35-year lease agreement between CSP and ADP and serves as a regional base for CSP's global network of 48 terminals.

ADP said in a press statement that the terminal accomplished over 800,000 hours without lost-injury time (LTI) by February, adding that it has successfully handled 416 vessels to date, including some of the world's largest, together with 312,000 cargo movements.

Commencing full operations in November 2019, and with a design capacity of 2.5 million TEU, CSP Abu Dhabi Terminal is the first international greenfield subsidiary of CSP, whose parent company, China COSCO Shipping Corporation Limited, is the largest integrated shipping enterprise in the world, according to the statement.

Mohamed Juma Al Shamisi, Abu Dhabi Ports Group CEO, said in the statement that ADP has invested in developing world-class technology and infrastructure to ensure "our maritime and logistics assets act a conduit for attracting foreign direct investment and enhancing commerce."

Naser Al Busaeedi, Deputy CEO, CSP Abu Dhabi Terminal, underlined the JV's commitment to Khalifa Port's ongoing enhancement, which will position the port as a significant hub within China's Belt and Road Initiative (BRI).

The statement said the Port is set to complete major projects within the next 12 months including a 2.2 billion dirhams ($599 million) South Quay and Khalifa Port Logistics project featuring 28 of the world's largest ship-to-shore quay cranes.

Khalifa Port would also be the first in the UAE to be connected to the new Etihad Rail network, which is currently under construction, the statement added.

 

Source: Zawya