CMA Terminals Khalifa Port: A New Epoch for Trade and Economic Diversification in Abu Dhabi
Date: December 15, 2024 | Author: LG Content Team
In a significant advancement for the maritime sector, His Highness Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, formally inaugurated the CMA Terminals Khalifa Port—a state-of-the-art container terminal that represents a hefty investment of AED 3.1 billion (approximately USD 845 million). This ambitious project is executed through a joint venture orchestrated by CMA CGM Group’s subsidiary CMA Terminals, which maintains a controlling 70 percent stake, alongside Abu Dhabi Ports, holding 30 percent.
Upon his arrival at the port, Sheikh Khaled was received by Captain Mohamed Juma Al Shamisi, the Managing Director and Group CEO of AD Ports Group, who provided a comprehensive overview of the terminal’s capabilities. The ceremony also included the presence of Rodolphe Saadé, the Chairman and Chief Executive Officer of CMA CGM Group, as well as key stakeholders from various sectors.
An important facet of this event was the signing of a memorandum of understanding (MoU) between Saadé and Al Shamisi, which outlines ambitions for the enhancement of maritime training and education within the UAE, and indeed, the Gulf Cooperation Council (GCC) region. This initiative promises promising futures for local talent, as CMA CGM Group pledges its support in training students at the Abu Dhabi Maritime Academy and facilitating cadet placements on its flagship vessels.
Strategic Importance and Economic Diversification
Inaugurating this project, Sheikh Khaled emphasized the significance of the CMA Terminals Khalifa Port as a catalyst for comprehensive and sustainable economic development. By bolstering trade routes and infrastructure, the terminal serves as a pivotal element in diversifying the national economy, steering it away from an overreliance on oil-based revenues.
This latest addition marks a monumental achievement in the evolution of Khalifa Port—a crucial node that has rapidly ascended to become one of the world’s most efficient and fastest-growing commercial ports since its opening in December 2012. Over the past decade, the port has expanded its capabilities, resulting in an impressive increase in annual container handling capacity. The CMA CGM facility is set to enhance Khalifa Port’s capacity by 23 percent, bringing it to nearly 10 million TEUs (twenty-foot equivalent units) annually. This growth positions Khalifa Port as a critical regional gateway for global trade, equipped with the latest technologies for efficient and timely logistics operations.
Commitment to Sustainability
The design of the new terminal embodies a commitment to sustainability, aligning itself with the UAE’s broader aspirations to advance a circular economy. Key elements of the terminal’s infrastructure are dedicated to recycling construction materials and minimizing operational waste, supporting the UAE’s sustainability objectives across various sectors.
His Excellency Mohamed Hassan Alsuwaidi, Chairman of AD Ports Group, articulated the broader impact of this modern terminal, stating, “The new terminal will boost trade flows and foster long-term economic growth in Abu Dhabi and the UAE.” Citing the strategic nature of this infrastructure, Saadé echoed the sentiments, emphasizing the terminal’s role in enhancing shipping and logistics operations throughout the region, while championing innovation and sustainability.
Captain Al Shamisi confidently remarked, “This new facility places AD Ports Group firmly in the ranks of the world’s leading global port operators.” This statement not only underlines the operational prowess of Abu Dhabi’s port but also signals a new era of competitiveness in the global logistics arena.
Conclusion
The inauguration of the CMA Terminals Khalifa Port heralds a transformative chapter for Abu Dhabi, exemplifying the emirate’s dedication to diversifying its economic base while simultaneously enhancing its strategic position in global trade. As officials celebrate this critical juncture, the port stands poised to lift the region’s maritime industry, nurture local talent, and further intertwine sustainability within the fabric of economic development, thereby paving the way for a resilient and innovative economic future.
Tags: #UAE #BusinessNews #EconomyNews