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Industry Highlights | The Port Group Announces Expansion Plans for 2024

Feb 05,2024

Saif Al-Mazrui, CEO of Abu Dhabi Ports Group (AD Ports), issued a statement to the Emirates News Agency (WAM), announcing that the group will continue its acquisition and expansion plans in Asia, Africa and the Middle East in 2024. Almazroui revealed that several new investment projects of the group have entered the final stage and are expected to be announced within this year.

Photo from AD Ports Group official website

Abu Dhabi Ports Group is working to develop the infrastructure of Khalifa Port, which is expected to have a throughput capacity of 11 million TEUs by 2024, significantly enhancing its global competitiveness. Al-Mazroui pointed out that the development of the port sector reflects the core of the group's global expansion strategy, with particular emphasis on the acquisition of Noatum, which has already shown results in the group's global business growth.

In addition, Abu Dhabi Ports Group has signed a 50-year concession agreement with Karachi Ports Trust to develop a container terminal and a 30-year concession agreement at Safaga Port in Egypt to develop and operate the port. The Group has also invested in Jordan to further expand its presence in the Middle East.

The Abu Dhabi Ports Group's investments in the Arab Republic of Egypt reflect the strength of the economic and investment partnership between the two countries. In particular, the investments made in Egypt's transport and logistics sector are important for leveraging its strategic location and labor resources. Abu Dhabi Ports Group has reached more investment agreements in a number of new ports in Egypt, becoming a pioneer in investing in the transport sector in the country.

As one of the fastest growing ports in the world, Khalifa Port ranks third in the world in terms of container handling speed in 2023. The port serves 25 major shipping lines and is directly connected to more than 70 ports worldwide. Khalifa Port has two container terminals and a roll-on/roll-off cargo terminal, all of which are integrated with the Abu Dhabi Khalifa Economic Zone-Kizad Group, providing a unique gateway to the international market, especially through the Etihad Railway's intermodal transportation channel.

(Source: Port Circle)

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