Abu Dhabi Ports has signed a 30-year concession agreement with Swiss-based Mediterranean Shipping Company (MSC) to establish a new container terminal at Khalifa Port in the United Arab Emirates.
As part of the deal, MSC will invest a total of AED4 billion (US$1.0 billion) for operational equipment over the life of the agreement.
Rated as one of the world's top 25 container-handling ports, the capacity of Khalifa Port is expected to increase from 2.5 million TEU to 8.5 million TEU within five years.
Other developments include an increase from 12 to 25 ship-to-shore cranes over the next two years and deepening the berths to making Khalifa the first port in the region capable of receiving the largest shipping vessels in the world that specialise in bulk cargo shipment.
