$154 Million Worth Emirati-French Investment in New Abu Dhabi Terminal

Sheikh Khalid bin Mohammed bin Zayed, member of the Executive Council of Abu Dhabi, during his meeting with officials from Abu Dhabi Ports Group and CMA CGM Group, on the sidelines of the signing of the agreement. (Asharq Al-Awsat)
Sheikh Khalid bin Mohammed bin Zayed, member of the Executive Council of Abu Dhabi, during his meeting with officials from Abu Dhabi Ports Group and CMA CGM Group, on the sidelines of the signing of the agreement. (Asharq Al-Awsat)
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$154 Million Worth Emirati-French Investment in New Abu Dhabi Terminal

Sheikh Khalid bin Mohammed bin Zayed, member of the Executive Council of Abu Dhabi, during his meeting with officials from Abu Dhabi Ports Group and CMA CGM Group, on the sidelines of the signing of the agreement. (Asharq Al-Awsat)
Sheikh Khalid bin Mohammed bin Zayed, member of the Executive Council of Abu Dhabi, during his meeting with officials from Abu Dhabi Ports Group and CMA CGM Group, on the sidelines of the signing of the agreement. (Asharq Al-Awsat)

Abu Dhabi Ports and shipping company CMA CGM Group have formed a joint venture and signed a 35-year concession agreement to develop and operate a new terminal at Khalifa Port.

The partners are expected to commit about AED570 million ($154 million) to the project, Abu Dhabi Ports said in a statement on Thursday.

The construction starts in 2021, with an initial quay length of 800 meters and an estimated annual capacity of 1.8 million TEUs.

The terminal will be managed by the joint venture company 70 percent owned by CMA CGM’s subsidiary CMA Terminals and 30 percent owned by Abu Dhabi Ports.

The new terminal will have an annual capacity of 1.8m TEU. Abu Dhabi Ports will be responsible for developing up to a total of 1,200 m of quay wall, a 3,800 m breakwater, a full built-out rail platform, and 700,000 sq m of the terminal yard.

Falah Mohammed Al Ahbabi, chairman of Abu Dhabi Ports, stated that “as well as driving increased trade volumes through our port, we expect the facility’s capacity and added trade links with other high-profile port destinations will drive investment into local businesses and our industrial zones, fast-track the development of key sectors including manufacturing and logistics and raise demand for manpower.”

“In all, we project that over the next five years, the CMA Terminals joint venture will drive the further development of the Khalifa Industrial Zone Abu Dhabi (KIZAD), while simultaneously contributing significantly to the national GDP,” he added.

Captain Mohamed Juma Al Shamisi, group CEO, AD Ports Group, said: “At home, we expect the presence of the shipping line terminal, which will link directly to Khalifa Port's upcoming rail terminal and utilize its services, to accelerate trade flows moving in and out of the UAE, while also encouraging CMA CGM Group's customers to consider establishing a presence in Abu Dhabi.”

Rodolphe Saadé, chairman and CEO of CMA CGM, said: “The ambitious project we are launching today in Abu Dhabi marks an important milestone in CMA CGM’s development strategy in the region.”

He added that “this state-of-the-art terminal will contribute to enhancing Khalifa Port’s position as a leading global hub and to boosting the region’s economy, accelerating trade flows in and out of Abu Dhabi.

“It will also enable our group to expand its shipping and logistics network in the region, where we see a lot of growth potential.”



GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
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GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.