ABU DHABI: Abu Dhabi Ports signed a container terminal concession agreement with COSCO SHIPPING Ports Limited – Abu Dhabi (CSPL SPV), a wholly-owned subsidiary of COSCO SHIPPING Ports Limited. COSCO SHIPPING Ports Limited will operate a container terminal with a draft depth of 18 metres, with 1200 metres of quay wall and adjacent land.
The first 800 metres of the quay length (and the corresponding concession area) is expected to commence operations in H1 2018 and the later 400 metres (and the corresponding expanded concession area) is expected to commence operations in 2020. Once the expansion areas are occupied, the concession area will span approximately 70ha with three berths, which will add 2.4 million TEUs a year to the port’s existing capacity of 2.5 million TEUs.
The agreement includes the option for a further 600 metre of quay length in the future to allow for anticipated volume growth, the nominal annual handling capacity will increase to 3.5 million TEUs when all phases are complete, creating a new overall annual capacity of up to six million TEUs.
HE Dr Sultan Ahmed Al Jaber, UAE Minister of State and chairman of ADPC, said: “The signing of the concession agreement between Abu Dhabi Ports Company and COSCO Shipping Ports Limited will significantly expand trade between China, the UAE and the broader region. It will greatly enhance the UAE and Abu Dhabi’s role as a key logistics and trading hub, between East and West and will also serve to further diversify the UAE’s dynamic and growing economy.”
