Agreement coincides with ports 10th anniversary
Abu Dhabi Ports Company has signed a 35-year concession agreement with Chinas Cosco Shipping Ports for the operation of Khalifa Port Container Terminal 2.
The contract is renewable for a period of five years.
Cosco will operate an initial 1,200 metres of quay and yard with a capacity of 2.4 million twenty-foot equivalent units (TEUs).
The terminal is expected to commence operations in the first half of 2018, and the remaining 400 metres of quay is expected to be completed in 2020.
The agreement provides for an option to expand a further 600 metres of quay to support anticipated furture growth in volumes of up to 3.5 million TEUs.
Abu Dhabi Terminals will continue to operate the ports Terminal 1.
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