Abu Dhabi Ports in talks for Africa deal, says CEO

Muscat Daily - - BUSINESS -

Dubai, UAE - Abu Dhabi Ports is dis­cussing a pos­si­ble deal in Africa to take ad­van­tage of the con­ti­nent’s grow­ing trade with Asia, CEO Mo­hamed Juma al Shamisi said, as the gov­ern­ment-run ter­mi­nal op­er­a­tor got a US$300mn in­vest­ment from China.

Ship­ping be­tween Africa and Asia is ‘boom­ing’, Shamisi said in a Bloomberg Tele­vi­sion in­ter­view from the com­pany’s head­quar­ters in Abu Dhabi. He de­clined to iden­tify who else is in­volved in the talks or where the ven­ture might be.

“There are big vol­umes mov- ing from Africa to the east, so we’re cap­i­tal­is­ing in the east-east mar­ket which is still boom­ing,” Shamisi said. “We see big po­ten­tial mov­ing for­ward.”

Sep­a­rately, the in­dus­trial zone, known as KIZAD, signed an in­vest­ment agree­ment with Jiangsu Pro­vin­cial Over­seas Co- op­er­a­tion & In­vest­ment Co to lease 2.2sqkm through its United Arab Emi­rates unit. The in­vest­ment will open doors for fur­ther ne­go­ti­a­tions with Chi­nese com­pa­nies, said Shamisi, who seeks to lease an ad­di­tional 10sqkm space to them.

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