Abu Dhabi Ports Company (ADPC) has secured a $300 million financing agreement from the National Bank of Abu Dhabi for the construction of its Khalifa port project.
United Arab Emirate state-owned ADPC is the master developer of the multi-billion dollar Khalifa Port and Industrial Zone located in Taweelah, midway between Abu Dhabi and Dubai.
Reports say that ADPC is still structuring long-term project finance facilities while the current loan from the state bank will fund immediate development expenses for first phase construction.
The Khalifa Port and Industrial Zone includes plans for a container and 'industrial' port. First phase construction is slated for completion by the end of 2010.
Dubai's DP World recently signed a contract to manage and operate Khalifa port.
The agreement signed between DP World and ADPC also saw a contract for DP World's sister company Economic Zones World (EZW) to operate an adjoining 25 square kilometres free trade and logistics zone.
DP World currently has a management services agreement for the port of Mina Zayed in Abu Dhabi and this latest involvement with the Khalifa port project represents the next stage in its growing relationship with ADPC.
United Arab Emirate state-owned ADPC is the master developer of the multi-billion dollar Khalifa Port and Industrial Zone located in Taweelah, midway between Abu Dhabi and Dubai.
Reports say that ADPC is still structuring long-term project finance facilities while the current loan from the state bank will fund immediate development expenses for first phase construction.
The Khalifa Port and Industrial Zone includes plans for a container and 'industrial' port. First phase construction is slated for completion by the end of 2010.
Dubai's DP World recently signed a contract to manage and operate Khalifa port.
The agreement signed between DP World and ADPC also saw a contract for DP World's sister company Economic Zones World (EZW) to operate an adjoining 25 square kilometres free trade and logistics zone.
DP World currently has a management services agreement for the port of Mina Zayed in Abu Dhabi and this latest involvement with the Khalifa port project represents the next stage in its growing relationship with ADPC.