Posted on December 14, 2022
The President of the United Arab Emirates (UAE) has inaugurated AD Ports Group’s Khalifa Port expansion, a major development project with a total investment of AED4 billion ($1 billion).
The President, Sheikh Mohamed bin Zayed Al Nahyan, attended the inaugural ceremony with representatives from AD Ports, where they discussed future plans for the port.
“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”, said the President.
“Khalifa Port, along other national ports, are important cornerstones to the development and diversification of the national economy”.
As part of the expansion – which includes the development of the port’s South Quay, Khalifa Port Logistics, and Abu Dhabi Terminals – the port has grown from 2.43 square kilometres to 8.63 square kilometres.
The quay wall has been extended from 2.3 kilometres to 12.5 kilometres. It now provides 21 berths and offers a range of services to position it among leading deep-water ports, according to AD Ports.
The expansion programme is in line with the company’s vision to increase handling capacity at Khalifa Port by 2030 to 15 million TEU per year, and general cargo handling capacity to 25 million tonnes.
Officially inaugurated in 2012, Khalifa Port serves more than 25 container shipping lines with direct links to more than 70 international destinations.
“We are honoured to welcome His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, 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,” added Falah Mohammed Al Ahbabi, Chairman of AD Ports Group.
“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.”
Net profit soared to AED334 million ($90.9 million) in Q3 2022 and registered a 58 per cent YoY growth to AED941 million ($256 million) for the first nine months of this year.