Abu Dhabi is pumping more than Dh26 billion into the construction of its giant Khalifa Port project that will meet the rapid rise in the emirate’s trade and business activity, a local newspaper reported on Sunday.
The Emirate has already invested in excess of Dh10 billion in the first phase of the project, which also involves a massive industrial zone spread over 51 square kilometers near Taweela just outside Abu Dhabi city, the paper said.
“The total costs of the project are estimated at Dh26.5 billion and it is expected to be completed in 2013,” the paper said, quoting a Port source.
It noted that the Abu Dhabi Ports Corporation, which is carrying out the project, had already awarded four major contracts for the Port construction while it intends to offer two other deals this month.
The company has also completed the construction of a major three-lane causeway that will serve the Port as well as another bridge leading to the main quay and a passage for a cargo train.
Khalifa Port, one of the largest harbours in the region, is part of Abu Dhabi’s Vision 2030, an ambitious long-term strategy that involves development of the emirate’s economy, infrastructure and services.