COSCO Shipping Ports inks CFS agreement in Abu Dhabi

The terminal operator arm of Chinese state-run conglomerate COSCO Shipping will lease a container freight station (CFS) at the site of the new CSP Abu Dhabi terminal, which is slated for completion by 2019.    COSCO Shipping Ports (CSP) has inked an agreement with Abu Dhabi Ports to lease a container freight station (CFS) in the Khalifa Industrial Zone at the Port of Fujairah at the ground-breaking ceremony for the new CSP Abu Dhabi Terminal on Sunday.
   “The partnership between Abu Dhabi Ports and COSCO SHIPPING Ports to develop the region’s largest container freight station will add a new dimension to UAE/China trade relations and is fully aligned with Abu Dhabi’s Vision 2030 to drive growth, attract investment, support economic diversification and create sustainable jobs,” H.E. Dr. Sultan Ahmed Al Jaber, minister of state and chairman of Abu Dhabi Ports, said in a statement.
   CSP and Abu Dhabi Ports agreed last year to build a CSP-operated terminal at Khalifa Port and raise the annual container handling capacity at the port to 6 million TEUs. The terminal will be the first overseas greenfield project fully controlled by COSCO Shipping Ports, the port said.
   “Khalifa Port is one of the fastest growing ports in the world and an important gateway port in the region, with huge potential and prospect. COSCO Shipping Ports is marching another step forward in the port development project with Abu Dhabi Ports,” said H.E. Ning Jizhe, deputy director of China’s National Development and Reform Commission (NDRC). “The solid progression of this project writes a new chapter between China and the UAE, in terms of infrastructure investment construction and service sector, and bears new fruit for the cooperation of The Belt and Road Initiative between the two countries, injecting new energy to solidify and promote China-UAE economic and trade cooperation, thus providing new contributions.”
   Upon completion, the CSP Abu Dhabi Terminal will be able to handle 2.5 million TEUs annually, with operations expected to commence in the first quarter of 2019.