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Cosco will invest in Abu Dhabi Terminal
China’s Cosco Shipping Port will invest US $400 million in a new container terminal in Abu Dhabi. The United Arab Emirates aims to develop their trade relation with China. The main cargo goes through Dubai, but Abu Dhabi is hoping to reach a share in this by investing in their infrastructure.
Abu Dhabi Ports awarded Cosco Shipping to build and operate the second terminal at Khalifa Port. Cosco Shipping will hold a major stake and Abu Dhabi Ports the minor stake. The new terminal will have a capacity of 2.4 million TEU with the possibility to increase to 3.5 million TEU. The terminal is expected to be operational in the beginning of 2018.
Khalifa Port’s existing terminal has a capacity of 2.5 million TEUs. Bilateral trade between China and the UAE totaled US$20.2 billion in the first six months of 2016, according to figures from the Chinese Embassy in Abu Dhabi. Our office Jordex Global in Abu Dhabi is following the local developments. Do you want to know more about the logistic possibilities, don’t hesitate to contact Jordex Global.
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