State-run Abu Dhabi Ports targets $1.03 billion Khalifa expansion

State-run Abu Dhabi Ports Company said on Wednesday it invested 3.8 billion dirhams ($1.03 billion) in an expansion of Khalifa Port, which will help increase capacity.

It will invest 2.2 billion dirhams in the development of South Quay and Khalifa Port Logistics and 1.6 billion dirhams in expanding Abu Dhabi Terminals, the statement said.

The expansion will increase Abu Dhabi Terminals capacity to 5 mln teu (twenty foot equivalent units) from 2.5 mln by 2025, Jakob Larsen, the chief commercial officer at Abu Dhabi Terminals told reporters.

Source: Reuters