Khalifa Port Trade Zone Receives Cash Injection
The Khalifa Industrial Zone Abu Dhabi (KIZAD), one of the largest industrial zones in the Middle East, will be given a US$100 million investment by Abu Dhabi investment group Trustworthy.
The injection in capital is part of a wider collaboration that includes Sri Lanka’s largest transport group Haileys Advantis and is intended to provide a world class logistics platform for the region.
The investment will go in part towards the construction of a new container freight and inland container depot on 1.4 million square foot plot of land, the construction of which will begin in January 2019.
The KIZAD is Abu Dhabi’s first integrated trade, logistics, industrial and free zone which is designed to turn Abu Dhabi into a global trading hub.
https://t.co/Q8I77VEDaz M.D Mr. Abdul Lathif, at the event sharing the details on the construction of container freight station and inland container depot, which will be developed on a 1.4 million sq ft land plot, will commence in Jan 19 and is set to become operational by Jun 19 pic.twitter.com/bSyOHrcFRx— Trustworthy.ae (@Trustworthyae) December 13, 2018
It is intrinsically linked to Khalifa Port, one of the world’s most advanced deep-sea ports and the region’s first semi-automated port.
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On December 10 Abu Dhabi Ports announced the inauguration of a new terminal with COSCO Shipping, the biggest operator in the world, to develop and manage a new terminal that will support trade flows throughout the region.
According to a statement from Trustworthy, the investment was announced at a celebration dinner at the Burj al Arab, which was attended by Abu Dhabi Ports.