Abu Dhabi inaugurated a new container terminal at Khalifa Port on 10 December.
A joint venture of Abu Dhabi Ports and China’s Cosco Shipping Ports agreed in 2016 to develop and operate the second container terminal under a 35-year concession agreement.
The contract is renewable for five years and has an estimated value of $738m.
It was said last year that the second container terminal was expected to become operational in early 2019.
The terminal will double Khalifa Port’s existing capacity of 2.5 million 20-foot equivalent units (TEUs), with provision for an additional 1 million TEUs depending on the success of the business model and the port’s growth.
The local National Marine Dredging Company (NMDC) recently won the estimated AED1bn ($272m) contract to expand Abu Dhabi’s Khalifa Port.
The marine works contract covers the construction of a 3 kilometre quay wall in addition to deepening the port’s main channel and basin.
NMDC has already completed the first contract for the second container terminal.