Mediterranean Shipping Company (MSC) has signed a 30 year concession agreement with Abu Dhabi Ports to establish a new container terminal in the UAE.
The plan will see the Swiss-based liner giant invest AED 4bn ($1.1m) over the life time of the concession in the facility at Khalifa Port.
Developments include an increase in the current 12 ship-to-shore cranes to make a total of 25 over the next two years.
In addition, the terminals ports will be deepened, making Khalifa Port the first port in the region capable of receiving the largest containerships in operation.
MSC said it plans to gradually shift some of its container handling in the region to Khalifa Port, starting from July 2018.
This is set to increase Khalifa Port’s capacity from 2.5mteu in 2017 to 5.3mteu by 2020, making it one of the top 25 ports worldwide in handling containers.
“MSC is delighted to be part of the UAE’s maritime sector growth,” said MSC president and chief executive Diego Aponte.
“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.
“We are confident that with this investment we will continue to ensure a high level of service for our customers and have the capacity to grow the scale of our operations in the UAE.”
