Under a 35-year concession agreement signed by Khalid bin Mohamed bin Zayed

Abu Dhabi Ports and France's CMA invest 570 million dirhams in a container terminal at Khalifa Port

Khalid bin Mohamed bin Zayed during his meeting with the Chairman of the Board of Directors of CMA CGM.

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Abu Dhabi Ports Group and CMA CGM Group have signed a 35-year concession agreement, under which the French group will establish a new regional center in Khalifa Port for its main markets in South and West Asia, North and East Africa and the Middle East.

H.H. Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and head of the Abu Dhabi Executive Office, witnessed the signing of the agreement, which includes the construction of a new container terminal in Khalifa Port, which will be managed by a joint venture between CMA Terminals, a subsidiary of C Group. MA CGM with a 70% stake, and Abu Dhabi Ports with a 30% stake, where the partners will allocate an investment of 570 million dirhams for the project.

Meeting

In detail, His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and head of the Abu Dhabi Executive Office, met with the Chairman and CEO of the French CMA CGM Group, Rodolphe Saade, a world leader in the field of shipping and logistics services. which currently operates 49 marine terminals in 27 countries through its subsidiaries CMA Terminals and Terminal Link.

New Partnership

His Highness was briefed during the meeting, which was attended by the Chairman of the Department of Economic Development in Abu Dhabi, Muhammad Ali Muhammad Al-Shurafa Al-Hammadi,

The Chairman of the Board of Directors of Abu Dhabi Ports Group, Falah Mohammed Al Ahbabi, and CEO - Abu Dhabi Ports Group, Captain Mohamed Juma Al Shamsi, and a high-level delegation from the CMA CGM Group, on the details of the new partnership between the Abu Dhabi Ports Group, a subsidiary of the “Holding” » (ADQ), which is one of the largest holding companies in the region, and the French group, which would consolidate Abu Dhabi's position as a global center for maritime trade, and push the wheel of economic development.

Signature

His Highness witnessed the signing of a 35-year concession agreement between Abu Dhabi Ports Group and CMACGM, under which the French group will establish a new regional center in Khalifa Port for its main markets in South and West Asia, North and East Africa and the Middle East.

a tour

His Highness Sheikh Khalid bin Mohammed bin Zayed toured Khalifa Port and viewed the southern berth of the port, which was completed this year.

His Highness praised the great progress made by the port in its rank among the top 100 ports in the world, as it is the fastest growing in the world, stressing the importance of continuing to expand the port and increase the number of marine lines, to achieve the desired goal of supporting maritime trade, in addition to supporting the growth of priority sectors. strategy in the Emirate of Abu Dhabi.

new station

The concession agreement includes the construction of a new container terminal at Khalifa Port, the first semi-automated container port in the Arabian Gulf region, to be managed by a joint venture between CMA Terminals, a subsidiary of CMA CGM Group, with a 70 percent stake. percent, and the Abu Dhabi Ports Group with a 30% stake, whereby the partners will allocate an investment of 570 million dirhams ($154 million) for the project.

Construction work on the terminal will begin this year, to be ready in 2024, with a quay of 800 meters in the first phase, and an annual capacity of 1.8 million TEUs.

Attracting investments

In addition, Al Ahbabi said, “The agreement with the CMA CGM Group is the result of our tireless efforts and contributes to stimulating trade and industrial development in the UAE and abroad. It will be opened with a number of the world’s leading ports, in attracting investments to the local business system and our industrial zones, and accelerating the development of a number of key sectors.”

joint investment

In turn, Al Shamsi pointed out that the addition of a new container terminal to Khalifa Port through a joint investment with CMA Terminals, through which it manages the terminal, constitutes a new chapter in our journey to consolidate Abu Dhabi Ports Group's position as a leading engine of global trade, and enhance Abu Dhabi's position as a regional center Internationally for maritime trade.

milestone

For his part, Saadeh said, "This project, which we are launching with the Abu Dhabi Ports Group, is a milestone in the CMA CGM Group's journey to achieve its business development strategy in the region."

He added: “The planned advanced terminal will contribute to consolidating Khalifa Port’s position as a leading global center, improving the economy in the region, and accelerating the movement of trade exchange to and from the Emirate of Abu Dhabi. to achieve growth.”

marine business

According to the new concession agreement, Abu Dhabi Ports Group will undertake the marine works and supporting infrastructure works, including the construction of a quay wall with a total length of 1,200 meters, a breakwater of 3,800 meters in length, a fully equipped railway station, and a container yard for the terminal extending over an area of ​​700,000 Square meters.

Under the agreement, CMA CGM became the third global group among the four largest shipping companies in the world to cooperate with the Abu Dhabi Ports Group.

The French group is establishing a new regional center for its main markets in Asia, Africa and the Middle East.

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