China’s COSCO SHIPPING Ports (CSP) has begun construction of a new container terminal at Khalifa Port in Abu Dhabi, United Arab Emirates (UAE).
The project is a part of a concession agreement signed between CSP and Abu Dhabi Ports in September last year.
Once completed, the terminal will be able to handle 2.5 million twenty-foot equivalent units (TEU) of cargo annually and will be supported by a large fleet of Cosco Shipping vessels.
The terminal is also expected to boost UAE-China trade relations and will help realise Abu Dhabi’s Vision 2030, which seeks to drive growth, attract investment, support economic diversification, and create sustainable jobs across the country.
The terminal is due to be completed in a year and a half, scheduled to begin operations by Q1, 2019.
CSP vice-chairman and managing director Zhang Wei said: “CSP Abu Dhabi Terminal is the first overseas Greenfield project controlled by CSP. The project encompasses our passion to build our own strategic terminal and our goal to drive the economic growth of the region.
“CSP is dedicated to building a highly efficient comprehensive terminal with synergies from port and shipping, a trans-shipment hub, and a solid services network connecting transportations in the sea, land, and air.
“We believe a successful business model drives economic growth and it is our will to foster the growth of trade and economy in the regions while achieving our own growth; for that we have great expectations and working hard towards it.”