ABU DHABI PORTS COMPANY SIGNS CREDIT FACILITY WITH HSBC
ABU DHABI PORTS COMPANY (ADPC) AND HSBC SIGNED A ONE YEAR REVOLVING CREDIT FACILITY OF AED 459 MILLION. AHMED AL CALILY, CEO AND MANAGING DIRECTOR OF ADPC, AND YOUSSEF NASR, CHIEF EXECUTIVE OFFICER OF HSBC MIDDLE EAST, ATTENDED THE SIGNING OF THIS AGREEMENT TODAY IN ABU DHABI.
The arrangement is the second bridge facility arranged for ADPC to meet the initial construction costs of Khalifa Port. ADPC appointed HSBC in July 2007, to provide financial advisory services to Abu Dhabi’s Khalifa Port and Industrial Zone (KPIZ) project.
Strategically located between the cities of Abu Dhabi and Dubai in Taweelah, Khalifa Port and Industrial Zone (KPIZ) is a multi-billion dollar project designed as a multi-purpose facility that involves the construction of a world-scale container and industrial port in addition to the development of over 100 square kilometers of industrial, logistics, commercial, educational, and residential special economic and free zones.
KPIZ is a central plank of “Plan Abu Dhabi 2030”, and will play a major role in Abu Dhabi’s industrial and economic diversification in serving as a key hub for large scale industrial investments that will be serviced by state-of-the-art port, transport and other infrastructure facilities and services.