Abu Dhabi Ports in talks for Africa deal, says CEO
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.