Cosco Shipping has clinched a 35-year concession for a new container terminal in Abu Dhabi, according a Reuters report.
The Chinese operator will build and operate a new container terminal at Khalifa Port following the award of the deal by Abu Dhabi Ports, the news agency said.
The new terminal is expected to have a capacity of 2.4 million twenty foot equivalent units (TEUs), with an option to increase that to 3.5 million TEUs, Reuters reported.
It is forecast to be operational in early 2018, Mohamed Juma al-Shamisi, chief executive of the government-owned Abu Dhabi Ports, is reported as saying. No value was specified for the investment.
