Chinese port operator COSCO Shipping Ports and UAE port operator Abu Dhabi have started build on a new container terminal at Khalifa Port, and leased a linked container freight station.
A ground breaking ceremony for the new CSP Abu Dhabi Terminal was held on November 5, 2017.
COSCO Shipping ports in 2015 signed a 35-year concession agreement with the UAE port operator to develop and operate the port of Khalifa’s second container terminal.
COSCO Shipping Ports has also signed an agreement on the lease of a container freight station.
A signing ceremony between CSP and AD Ports for the leasing of a CFS, was held prior to the ground-breaking ceremony and unveiling of the plaque.
Together, the deals will make Khalifa Port as a hub for COSCO Shipping Ports’ operations in the region.
Apart from the Khalifa Port, COSCO Shipping Ports operates a global network across mainland China, Hong Kong, Taiwan, Singapore, Greece, Turkey, Egypt, Italy, Spain, Belgium and the US.
Its latest investment at Khalifa Port should further promote the business cooperation between China and the United Arab Emirates.
Read a related paper by Olaf Merk on how China’s One Belt One Road infrastructure investment policy will bring more choice and more Chinese control of global supply chains.
Deputy Director of China’s National Development and Reform Commission H E Ning Jizhe said: “Khalifa Port is one of the fastest growing ports in the world and an important gateway port in the region, with huge potential and prospect.
“COSCO SHIPPING Ports is marching another step forward in the port development project with Abu Dhabi Ports.
“The solid progression of this project writes a new chapter between China and the UAE, in terms of infrastructure investment, construction and service sector, and bears new fruit for the cooperation of The Belt and Road Initiative between the two countries, injecting new energy to solidify and promote China-UAE economic and trade cooperation, thus providing new contributions”.
Minister of State and Chairman of Abu Dhabi Ports H E Dr Sultan Ahmed Al Jaber said: “Following the guidance and vision of the leadership, Abu Dhabi Ports has played an important role in expanding trading links between the UAE and China, which is now the UAE’s second largest trading partner.
“The partnership between Abu Dhabi Ports and COSCO Shipping Ports to develop the region’s largest container freight station will add a new dimension to UAE-China trade relations and is fully aligned with Abu Dhabi’s Vision 2030 to drive growth, attract investment, support economic diversification and create sustainable jobs.”
Captain Xu Lirong, Chairman of COSCO Shipping said: "China and UAE's growing relationship in recent years has created favourable environment and conditions for the cooperation between the two countries in the port and shipping industries.
“Khalifa Port is an important gateway in Abu Dhabi, an important hub in the Middle East, and a major focal point for 'Belt and Road’, thus plays a significant role in the shipping industry.
“The signing of the agreement on CSP Abu Dhabi CFS project will further strengthen the services of the terminal and enhance the trade cooperation between the two countries. Port business is the core resources of COSCO SHIPPING, it is the foundation and strategic support of our global network.
“The stable development of the port business will bring mutual benefits to our shipping business and other business in upstream and downstream. "
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