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: Free Zones in the UAE |
| Abu Dhabi Ports Company [ADPC] |
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| Abu Dhabi Ports Company, DP World and Economic Zones World sign Cooperation Agreements |
| The Abu Dhabi Ports Company (ADPC), DP World and Economic Zones World (EZW) announced today the signing of cooperation agreements, which will see DP World operating the Khalifa Port and EZW operating the Free Trade and Logistics Zone located in Taweelah, Abu Dhabi. |
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The accords, which mark the first step towards a joint venture, were signed by the three companies at a special event held in Abu Dhabi to mark the first anniversary of Abu Dhabi Terminals.
One of the largest marine terminal operators in the world, DP World currently has a management services agreement for Mina Zayed in Abu Dhabi. Involvement with Khalifa Port will represent the next stage in its growing relationship with ADPC.
Meanwhile it is hoped that EZW, one of the largest developers and operators of free zones in the world, will manage an initial 25 km2 Trade and Logistics Free Zone within the larger Industrial Zone in Taweelah which will be located halfway between Abu Dhabi and Dubai.
Commenting on the partnership, H. E. Nasser Al Sowaidi, Chairman of Abu Dhabi Ports Company, said: "The signing of this agreement with DP World and Economic Zones World is yet another step in the drive towards greater cooperation and integration between Abu Dhabi and Dubai. It is also another example of how we are continuing to rapidly implement the vision of creating a world-class port and zones facilities at Taweelah. It demonstrates our commitment to partner with the best-in-class entities to develop the port area and to serve its ever-growing demand. The new port and trade and logistics hub will solidify the UAE's position as a world class transport and logistics hub."
Outlining the importance of the agreement, H. E. Sultan Ahmed Bin Sulayem, Chairman of Dubai World said: "Our track record with managing the facilities in Abu Dhabi and Jebel Ali, in addition to our reputation as a world class operator of ports and economic zones, has made us a clear choice for this joint venture. This is an important milestone in the drive to build the commercial relationship between the neighbouring emirates of Abu Dhabi and Dubai and is focused on making the UAE home to the world's most prestigious ports and industrial zones."
"The signing of these accords with DP World and EZW is an important step towards establishing one of the pivotal joint ventures for Khalifa Port & Industrial Zone. These will allow us to provide facilities and services that are unrivalled anywhere in the world," added H.E. Ahmed Saeed Al Calily, CEO and Managing Director of ADPC. "These announcements illustrate that we have reached another milestone in the development of the port and I am delighted that ADPC is striving to deliver on its mandate to help Abu Dhabi diversify its economy."
H.E. Jamal Majid Bin Thaniah, Group CEO of Ports & Free Zone World added: "We are delighted to help bring to fruition the vision that the Abu Dhabi Ports Company has for the Khalifa Port and Free Trade and Logistics Zone. Managing the port and free zone operations at Taweela will complement our flagship operations in Dubai and will pave the way for significant industry growth in the UAE for many years to come."
Abu Dhabi Ports Company is a master developer of ports and industrial zones; its aim is to create a sustainable growth platform that spurs economic expansion for Abu Dhabi by developing projects in conjunction with the private sector.
The Khalifa Port & Industrial zone development includes a multi-purpose port that is 5 km offshore and covers an area of 2.2 km2. It will be able to accommodate up to 2 million TEU's (twenty-foot equivalent container units) in its first stage which is scheduled to be operational by the end of 2010. The Trade and Logistics Free Zone will expand over an area of 25 km2 in its first phase and will be the first Trade and Logistics free zone in Abu Dhabi.
ADPC's economic development role encompasses the expansion of the existing and the new port sectors, the development of investor friendly regulations and the development of large scale economic clusters and free zones. |
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Courtesy ABQ Zawya Ltd
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Hot
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