ABU DHABI: May 07, 2018. The Mediterranean Shipping Company (MSC) is to invest AED4.0 billion in a new container terminal at Khalifa Port as part of a 30-year concession agreement with Abu Dhabi Ports.

Port Khalifa Abu DhabiCEO Mohamed Juma Al Shamisi explained: “Khalifa Port plays a vital role in Abu Dhabi Ports’ strategy that aims to further enhance the capital and the UAE’s economic and trade positioning on a regional and global level. MSC will invest a total of AED4.0 billion over the life of [the] concession agreement in operational equipment.”

As a result MSC plans to shift some of its container handling in the Gulf region to Khalifa Port, beginning in July 2018, that will see an increase in volume from 2.5 million TEUs last year to 5.3 million TEUs by 2020, and 8.5 million by 2023.

“MSC is delighted to be part of the UAE’s maritime sector growth. The UAE has a rich history in international trade and after two decades of operating in the country, MSC is pleased to continue to support the growth of the local maritime economy,” said MSC president and CEO Diego Aponte.

Sultan Ahmed Al Jaber, UAE Minister of State and chairman of Abu Dhabi Ports added: “This agreement will also promote economic growth and increased investment through the rise in container traffic. The UAE has been successful in implementing large infrastructure projects, and this has been due, to a large extent, to the presence of the world’s most technologically advanced ports.”

Future port developments over the next two years include doubling to 25 the number of ship-to-shore cranes and increasing berth depth to handle the world's largest  bulk cargo vessels.