COSCO SHIPPING PORTS breaks ground for the CSP Abu Dhabi Container Terminal
In the presence of H.H Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Department of Transport and member of the Abu Dhabi Executive Council, Abu Dhabi Ports and COSCO SHIPPING Ports Limited (CSP) held their ground-breaking ceremony for the CSP Abu Dhabi Container Terminal during a high-level event at Khalifa Port.
The ground-breaking ceremony was presided over by H.E Dr. Sultan Ahmed Al Jaber, Minister of State and Chairman of Abu Dhabi Ports and H.E. Ning Jizhe, Deputy Director of China’s National Development and Reform Commission (“NDRC”) who witnessed the unveiling of the ground-breaking plaque as well as the signing ceremony for the new CFS by Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports and Mr. Zhang Wei, Vice Chairman and Managing Director of COSCO SHIPPING Ports Limited.
A new agreement between CSP (HKEX stock Code: 1199), the world’s leading ports operator, and Abu Dhabi Ports PJSC (“AD Ports”) was also signed during the ceremony for development of the largest container freight station in the region. The new Container Freight Station will provide Abu Dhabi trade with a state of the art facility offering bonded LCL/FCL consolidation and de-consolidation services, cross stuffing, cargo weight reduction, short term warehousing for de-consolidated cargo as well as easy connectivity with the container terminals in Khalifa Port.
H.E. Jizhe expressed his view that, “Khalifa Port is one of the fastest growing ports and an important gateway port in the region, with huge potential and prospect. COSCO SHIPPING Ports is marching another step forward in the port development project with Abu Dhabi Ports. The solid progression of the CFS project writes a new chapter between China and the UAE, in terms of infrastructure investment, construction and service sector, and bears new fruit for The Belt and Road cooperation between the two countries, injecting new energy to solidify and promote China-UAE economic and trade cooperation, thus providing new contributions”.
Captain Al Shamisi, expressed his happiness in the ground-breaking ceremony and the signing of the new agreement, and praised COSCO SHIPPING Ports on their decision to take Khalifa Port as a hub for their operations in the region. Commenting on the dual achievements said, “Khalifa Port is considered to be one of the most important and advanced ports in the Middle East, considering its world-class infrastructure, strategic location that connects customers to the rest of the world. Last year, Abu Dhabi Ports signed with CSP, the world’s largest container operator, who chose Khalifa Port as the hub for its operations in the Middle East, and with CSP on board, we expect to raise the annual capacity of Khalifa Port to 6 million TEUs. This marks a significant leap in the expansion of the Port, transfer of goods and reduction of costs. In addition to attracting investors from Eastern Asia, it will increase Khalifa Ports’ competitiveness and ease the way for more partnerships with companies and friends in China and East Asia, which will draw further investments into Abu Dhabi. Our strategy is paying off as business continues to flourish and grow ahead of our competition and we strengthen our grip and positioning as a strong player in the international market place”