Abu Dhabi Ports Group plans $4bln capital expenditure through 2026
Abu Dhabi Ports Group is set to invest 15 billion dirhams between 2022 and 2026 to expand Khalifa Port and its connectivity as well as the economic cities and free zones.
In its annual report for 2021 released on Friday, the ports and logistics group, which listed its stock on the Abu Dhabi Securities Exchange earlier this year, also said it plans to invest more than 3.5 billion dirhams in the Economic Cities & Free Zones Cluster (EC&FZ) to build new infrastructure and assets such as warehouses to accommodate a planned 4.1 billion dirhams expansion of its Khalifa Port facilities. This will eventually link with the Etihad Rail network.
"Looking ahead to 2022, the Ports Cluster is focused on resuming its international expansion and is targeting opportunities among trade partners of the UAE such as Jordan, Egypt, Iraq and Saudi Arabia," the report said.
The company reported a net profit of 845 million dirhams in 2021, compared with 397 million dirhams in 2020.
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