Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

DP World eyes deal to operate new Abu Dhabi port

DP World eyes deal to operate new Abu Dhabi port

Dubai: DP World and Abu Dhabi Ports, master developer of ports and industrial zones in that emirate, are working together to create a joint venture that would seek to operate Khalifa Port at Taweelah, which is scheduled replace Abu Dhabi's existing port Mina Zayed by 2012, according to Bloomberg.

"There will be a new company called Emirates Ports Company, a new ownership between Abu Dhabi and Dubai," Tawfeeq al Mubarak, acting chief executive officer of Abu Dhabi Ports is reported to have said in Shanghai this week. "It is very important to adopt one port strategy."

Construction of Khalifa Port will cost about AED13bn ($3.5bn), which will be wholly funded by Abu Dhabi. Phase 1, with a container capacity of 2m TEU and cargo capacity of 9m tonnes, is due to be operational by mid-2012. The Industrial Zone is due to be operational from 2013.  [04/06/10]