Abu Dhabi Aims to Bring in Significant Asian Investment
A massive industrial and free zone located in the hinterland around Khalifa Port Container Terminal (KPCT) at Taweelah, in Abu Dhabi, is boosting hopes of attracting significant Asian investment as part of China’s One Belt One Road strategy.
According to MANA, in September, China’s Cosco Shipping Ports Ltd signed a concession agreement with ADPC to develop a second terminal at KPCT, expected to bring total port capacity to 4.9 million teu in 2020.
Jebel Ali Port in Dubai is way ahead of its competitors but Abu Dhabi’s strength and depth as the primary owner of the UAE’s oil means that it can play a long game. Initial estimates put ultimate KPCT capacity at 20 million teu, where its competitor’s is now 19 million teu, dwarfing regional opponents.