Abu Dhabi Ports, in association with the Indian Business and Professional Council (IBPC) – Dubai, today hosted prominent Indian business leaders at an exclusive event to share an array of growth opportunities created by its latest development projects and expansion plans.
In line with the Abu Dhabi government’s vision to achieve economic diversification and sustainability, Abu Dhabi Ports has recently announced a number of strategic projects that will substantially bolster growth potential for local, regional, and international investors.
During the third quarter of this year, Abu Dhabi Ports revealed a major expansion plan at Khalifa Port that will add 1000 metres of quay wall and deepen its main channel and basin to 18 metres, adding an area of 600,000 sqm for cargo handling. It has also signed a concession agreement with COSCO SHIPPING Ports Limited, to operate the new terminal at Khalifa Port which will increase overall annual capacity to up to 6 million TEUs once full operations commence in 2020.
With such large-scale developments underway, Abu Dhabi Ports has dedicated 100 sq. km. from Khalifa Industrial Zone’s (KIZAD) total area of 410 sq. km. to develop Khalifa Port Free Trade Zone, a new project that will serve as a platform for businesses looking to expand in the trade, logistics, and manufacturing sectors in the region.
Representatives from the Department for Economic Development – Abu Dhabi (ADDED) were also present at the event to share with the audience a variety of investment opportunities that currently exist in Abu Dhabi.
Mana Mohamed Saeed Al Mulla, CEO of KIZAD, said: “Abu Dhabi Ports and KIZAD remain committed to providing a superior ecosystem that boosts business growth and the development of Khalifa Port Free Trade Zone will surely help elevate KIZAD’s existing integrated offerings.”
“We have worked closely with the ADDED to encourage foreign direct investments and there is no doubt that business ties have remained strong for centuries between the UAE and India. India is the UAE’s third largest trading partner with annual bilateral trade expected to reach $160 billion by 2030 and this can be leveraged to drive growth and create new business opportunities between the two countries. We are delighted to have met with our Indian business counterparts and look forward to celebrating their future success from Abu Dhabi to the world,” he added.
Kulwant Singh, President of the IBPC, commented: “Abu Dhabi has the right resources for companies to expand their businesses. The emirate has the right formula along with the required land to cater to every kind of business. This is a successful combination for both Indian businesses and UAE companies. The time now is for companies to think wise. From an Indian perspective, we have been successful in our business endeavours and that has come from experience. The benefit to Indian companies looking to expand in Abu Dhabi is that Kizad offers the lowest cost for doing business. This is a key factor for any new or expanding business. In addition, the Royal visit in 2017 only further strengthens the UAE-India ties; it shows the seriousness and commitment from the region towards the Indian diaspora.”
Abu Dhabi Ports regularly holds exclusive business networking events with the aim of attracting investors and building mutually beneficial relationships and have previously partnered with leaders from China and Pakistan.