Dubai: Abu Dhabi is taking over management of the city's port from neighboring Dubai's port firm DP World, which manages similar facilities around the world, writes AP.
DP World and Abu Dhabi Terminals said Thursday that ADT will assume management control of Mina Zayed in the new year, when an existing management services agreement expires. The companies didn't provide a reason for the change but say they will continue to work closely together. The move won't have a material effect on DP World's earnings, according to a regulatory filing.
Plans for management of a larger deep-water facility known as Khalifa Port expected to open in 2012 have not been decided, the companies said.
"We are committed to improving the capabilities of ADT to better serve our customers and to enhance the capabilities of the company in anticipation of the move to the new Khalifa Port," ADT Chairman Tawfeeq al-Mubarak said. [30/12/10]
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