Cosco Shipping Ports (CSP) has signed an agreement to lease a container freight station from Abu Dhabi Ports Company, the owner and operator of ports in Abu Dhabi, the company said.
The agreement was signed on the sidelines of the groundbreaking ceremony for the CSP Abu Dhabi Terminal at Khalifa Port.
The concession agreement for this terminal was signed in September 2016, and construction and development of the terminal is expected to last approximately one and half years and it will commence operations in the first quarter of 2019.
One of CSP’s major new projects, Abu Dhabi Termial will have an annual designed capacity of about 2.5m teu and is well-placed to be a shipping hub for major international shipping companies in the Upper Gulf Region.
“CSP Abu Dhabi Terminal is the first overseas greenfield project controlled by Cosco Shipping Ports. The project encompasses our passion to build our own strategic terminal and our goal to drive the economic growth of the region. CSP is dedicated to building a highly efficient comprehensive terminal with synergies from port and shipping, a transshipment hub, and a solid services network connecting transportations in the sea, land and air,” said CSP vice-chairman and md Zhang Wei.