UAE President inaugurates Khalifa Port expansion
Major development project with total investment of AED 4 billion ($1 billion)
Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, inaugurated Khalifa Port's expansion - a major development project with a total investment of AED 4 billion ($1 billion).
President Nahyan was briefed by Falah Mohammed Al Ahbabi, Chairman, AD Ports Group and Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, on the key milestones of Khalifa Port expansion projects since its opening ten years ago, and reviewed future plans for the leading port in the region, says a release from AD Ports.
"Khalifa Port expansion is a major national project that is considered an important addition to the UAE's ports and logistic services and will further enhance the UAE's position in the global trade," President Nahyan said, adding "Khalifa Port, along other national ports, are important cornerstones to the development and diversification of the national economy".
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, the release added.
"It is fitting that we are celebrating Khalifa Port's 10th anniversary and Zayed Port's 50th anniversary today in 2022, which has been a transformational year for our organisation as we expanded our international reach and strengthened our portfolio," says Capt. Shamisi. "We have grown from a local champion into a publicly listed group with an expanding global reach. We will continue to expand and invest in the future and demonstrate our capacity for excellence across international markets."
Key achievements in 2022 include a series of acquisitions including a 70 percent stake in Transmar and TCI in Egypt (providing the company with a market-leading platform for operations along the entire Red Sea and beyond), an 80 percent equity stake in Global Feeder Shipping (contributing to its long-term strategy to become one of the world's premier short-sea and feeder shipping players), and the acquisition of Noatum(which will enable the company to build a strong international logistics brand with deep roots in this region), the release added.
