Abu Dhabi has inaugurated a new container terminal at Khalifa Port.
A joint venture of Abu Dhabi Ports and China’s Cosco Shipping Ports agreed in 2016 to develop and operate the second container terminal under a 35-year concession agreement. The contract is renewable for five years and has an estimated value of $738 mn.
It was said last year that the second container terminal was expected to become operational in early 2019.
The terminal will double Khalifa Port’s existing capacity of 2.5 million 20-foot equivalent units (TEUs), with provision for an additional 1 million TEUs depending on the success of the business model and the port’s growth.
The local National Marine Dredging Company (NMDC) recently won the estimated AED1bn ($272mn) contract to expand Abu Dhabi’s Khalifa Port. The marine works contract covers the construction of a 3 kilometre quay wall in addition to deepening the port’s main channel and basin.