In line with the emirate’s economic diversification plans, Abu Dhabi Ports is in discussions with Chinese investors with the intention of attracting further investment in the Khalifa Port Free Trade Zone.
After signing a 50-year agreement in July of 2017 with Chinese Jiangsu Provincial Overseas Cooperation and Investment Company, which will bring in investments of Dh1.1 billion to the free trade zone, Abu Dhabi Ports – which runs the capital’s US$7 billion Khalifa Port – is courting Chinese investors.
Abu Dhabi Ports' interest in attracting investment is part of ambitious plans for Khalifa Port, which replaced Abu Dhabi’s 1960s-built Port Zayed as the city’s main container port in December 2012. Under current plans, Khalifa Port will have the capacity to handle 15 million TEUs a year by 2030.
Abu Dhabi Ports’ net profit rose 140 percent in 2016 from a year earlier, as the company continued to benefit from an increase in volumes at the ports it manages.